1. Executive summary

2. Company Overview

3. External Analysis

Macro Environment Analysis: PESTLE

Industry Analysis: Porter's 5 Force (give evidence for each aspects to explain why it is low/ medium/ high)

External Challenge: Go in detail with the one has challenges

4. Internal Analysis

Competitive Analysis

Internal Challenge

5. Explain how the nature of the challenge is a result of the combination of external and internal factors that it has been discovered through the research and subsequently re-define the management challenge as a problem that can be solved through the combination of management theory and practice. Describe the nature of the challenge through the particular management lens (e.g., business development? Corporate strategy? Ethics? Stakeholders?)

6. Conclusion

AirCity Case Study Q1: Can you tell us a little bit about your brand? After the COVID-19 pandemic, the majority of serviced apartment owners face difficulties in finding security and management personnel due to the return of home workers. This presents an opportunity for AirCity. We offer management services through the use of technology. Our approach includes a facial recognition camera system for apartment security, digitized payment processes for accommodation and repairs, and the use of technology solutions for overall management. By employing this approach, AirCity automates 70\% of the management process. Instead of requiring three individuals as before, you can imagine now we only need one person and one machine. The company provides a service package to charge 5% of total revenue. However, AirCity's essence lies in being a real estate management company that leverages technology to reduce costs. Their model does not compete directly with traditional real estate management units but rather supports them. Consequently, their target market is Grade B apartments in Ho Chi Minh City. The AirCity model bears similarities to Different (Australia). The company raised \$25 million last year with investment led by Antler, an existing investor in AirCity. In this industry, companies generate revenue not only from management fees but also from repair services, leasing, and financial connections. While the revenue may not be substantial, customer loyalty tends to be high. Within the apartment management segment, AirCity is currently collaborating with several Grade B or lower apartment management units in the pilot phase. One challenge they face is reducing payment costs associated with monthly management fees, electricity, and water bills. The current manual collection process or integration of e-wallets results in the management bearing approximately 2% of the cost. Through the AirCity system, payments are integrated into QR codes and directly linked to the customer's bank account. This approach cuts costs by eliminating intermediary services for payment processing. Shortly, we are going to launch some new products that help to complete the first version of our smart city ecosystem vision. They includes thegioiphong.com - a website to find a long-term rental rooms, AirCity Work app - a mobile app for handyman, cleaner, property managers, etc. and AirCity Resident - a mobile app with ChatGPT-powered to support our users. Q2: Can you tell us about your business's structure, including industry, company size, and/or years in business? Our business's structure include 3 main parts: 1. Property Management service: that we install IoT hardware devices, digitize the data of property, tenants, contracts, invoices, and build communication channels. 2. Home services: these are tasks which are related to maintenance, fixing, etc. for the property. 3. Life services: to fulfill the demand for our residents (or tenants) such as help them to find a rental room, cooking, jobs, etc. The industry that we are targeting is serviced apartments and condo buildings. This market starts at 2 million units and growing to 5 millions in 2030. Our leadership team has more than 30 combined years of experiences in proptech field and have many strong advisors who has achieved some milestones in the proptech industry in Southeast Asia (PropertyGuru, 99.co) FOUNDERS TEAM Nhat Le Co-founder \& CEO M 7 years in SaaS proptech. Winner TECHFEST 2017. Top 40K-Startup Grand Challenge 2018. 5 years in project development and strategy in FPT retail, Lotus Group. Shark Tank Vietnam Season 4. OUR ADVISORS \& ANGEL INVESTOR Winnie Khoo Strategic Advisor ANTLER \&mopetroanu Ocarousell Le Nhat Quang Advisor IEC Over 10 years experiences in building Innovation Startup Ecosystem in ITP VNU HCMC. Director of IEC. Darius Cheung Angel investor 99.co Co - Founder \& CEO of 99.co Group, is a leading real estate technology company that operates real estate portals across SEA. Q3: What are the strengths of your company in your business, industry? The challenge here is how to optimize the operations cost to gain the gross profit and how to unlock new services (home \& life) to gain more revenue streams. It's impossible to do without technology. Others can't do it because they are based heavily on manual, and it's not easy to go digital transformation, it takes years. I took 5 years to train more than 50 traditional property management companies to go digital but failed. So how come we do it better this time? Because now we do management service to serve the end user which is tenants. It's different than before that we do SaaS for property management companies. Q4: Can you tell us about the problem your company is currently facing? What are the challenges you need to solve, why does this problem have a significant impact on your business? Are there any current trends in your industry? With AirCity, we want to become the head operations center of the whole city to bring a secure, safe, convenient, and green life to every resident. To do that, the first step we need to digitize all info on buildings, and residents. Then, centralize data, devices, and processes on the platform, run automated at most at scale. Last but not least, Page 3 Name of the case study integrate with suppliers to bring life services and home services to any demand from residents and landlords. Currently, our challenge is how to become a top of mind brand (thegioiphong.com) for students to find a suitable room. It's not that easy. In Vietnam market there are so many listing website but it doesn't have any trusted platform to help young people like students or professionals, expats to find a good place to stay when they need to move to study or to work. How to build a trust brand that even in the future, a potential tenant doesn't need to go tour the house before decide to rent it. They can easily pick a room before they travel from their hometown to HCMC and pay a deposit before check-in. Also, another challenge is how to convince landlords to collaborate with AirCity to let us manage their house because we are a technology-driven property management so it takes time to educate landlords to understand our values and decide to go with us. It's still hard to break this cold start problem. Lastly, we are thinking about the net zero problem that we may apply technology and/or partners in solar roof, battery/ electric vehicle to work with us to reduce the carbon footprint for each property that we're managing. How to help our tenants live a green life that is eco-friendly and still satisfy with the living demands. Q5: What other solutions have you tried if any? We're doing some partnership or collaborations with trusted brands such as Momo, VNU, Busmap, etc. to help us reach potential clients as well as students. We're planning to verify and certify houses to be an eco-friendly house when they matches all our criterias. Lastly, we organize some workshop to invite and share about what we're doing for our community (landlords, property managers, students) to gain the awareness and support from them. Source links: This Founder was willing to risk it all to pursue his entrepreneurship desires https://vietnamnet.vn/en/vietnam-s-house-leasing-startup-dreams-of-becoming-unicorn-2046 386.html https://www.entrepreneur.com/en-au/finance/different-raises-25-mn-series-b-round/386671 Page 4 The Initial Wind to a Smart Cfty Writer: Ronrick Arayata Mr. Nhat Le is a graduate of B.S Computer Science \& Engineering at the Ho Chi Minh City University of Technology and the founder of the startup AirCity. Ever since college, he always loved to think of new ideas to bring to the lives of the people in Vietnam and so after graduating in 2012, he immediately started his startup journey in order to bring these new ideas to society and help the people live better lives. He has founded 3 startups in the span of 10 years, and AirCity is his latest startup which was just founded last December 2021. Apartment renting is a common thing nowadays especially in universities and business sectors where researchers and experts often gather. Six years ago, Mr. Nhat, the founder of the startup AirCity, observed that most of the processes concerning these residential properties are fully manually done. Landlords have not integrated advanced technologies such as management softwares in their operations, as they are mostly very traditional people. But with the continuous evolution of technology, this manual operation creates a lot of inconveniences as it simply could not catch up with the rapid demand for services in this day and age. With this in mind, Nhat started his journey to give the residents a higher quality of efficiency and safety in their homes. The Arduous Path to the Heart of Society The initial implementation of Nhat's startup did not go smoothly. It was difficult to convince the landlords to change their tradition, especially since Nhat did not have much evidence that these technologies could be trusted at the time. For his first 10 customers, a lot of communication and education was done in order to explain what technology could provide them. It took around 6 years of continuous hard work to gather all these connections and gain the trust of the people in order to implement his technology to these residences. Now, he is well-known enough to be referred by his customers to other landlords, turning the dream of AirCity into a reality little by little. The Unity to Fan the Breeze of Innovation Aside from changing the perspectives of the masses, one thing Nhat wants to change is how their government sees technology. With support from the government, it would significantly hasten the implementation of these new technologies to society. He believes that a little change such as support for digitalization could have made his starting point a lot smoother, and an easier starting point would be more motivational for budding scientists who can bring their ideas to society to solve world issues. Nhat expects a lot more challenges coming their way as they try to progress their technology, but he is keeping a positive attitude towards the innovation of Vietnam in order to leave a better world to the future generations. AirCity is a residential property management platform startup that was founded by Mr. Nhat. It is a platform that aims to connect all home services and resources in order to provide 4 key features to the residents (1) provide a safe place to live in, (2) maintain constant security in the property, (3) provide environment friendly solutions and resources, and (4) provide a convenient and efficient way to access basic household services. A team member of AirCity doing maintenance for the hot water system of one of their customer residences Page 5