A new association has been rolled out which seeks to raise awareness of proptech within Australia’s real estate sector.
The Proptech Association of Australia has been officially launched this week by entrepreneur Kylie Davis and innovation hub Stone & Chalk in an attempt to raise awareness of the tech solutions available to the real estate industry. The association also looks to support and improve the property innovation landscape.
The roll-out comes after research found that between 260 and 480 proptech businesses have been introduced to the Australian market, with the majority established in the past five years.
The Proptech Association of Australia is designed as a not-for-profit trade association that provides training, education and support for proptechs, “helping them access a bigger market and introduce common standards to make vendor selection easier”.
“The investment flowing into proptech and the innovation it is fostering is quite extraordinary and escalating rapidly, growing more than 400 per cent since 2013. This creates real challenges that a member association is best placed to address,” Ms Davis said.
“What we’re seeing in the marketplace from real estate and construction companies is a lack of true understanding about how to introduce technology to their businesses. At the same time from a start-up point of view, there’s a hunger for more clarity around what their growth trajectory should look like and key benchmarks they should be working to achieve.
“We want to grow the real estate technology marketplace by helping real estate agents feel more confident about adopting and investing in innovation and build a community of bold-thinking innovators who share their knowledge and champion best practice and collaboration.”
Commenting further, Stone & Chalk CEO Alex Scandurra said: “The rate and pace of innovation in proptech is as intense as it was in fintech.
“Fintech is a close sibling to proptech because of the value of property as an asset, so there is a natural fit as many of our innovative companies are solving for similar or aligned problems.
“We are particularly interested in helping Australian proptechs leverage the same pathway to success, and provide the same support infrastructure our fintech start-ups were able to benefit from. It’s the right time to propel our proptechs onto the world stage.”
Emma Ryan is the deputy head of editorial at Momentum Media.
Emma has worked for Momentum Media since 2015, and has since been responsible for breaking some of the biggest stories in corporate Australia, including across the legal, mortgages, real estate and wealth industries. In addition, Emma has launched several additional sub-brands and events, driven by a passion to deliver quality and timely content to audiences through multiple platforms.
Email Emma on: [email protected]