RealTechX launches to drive growth for real estate technology founders
Taronga Ventures has launched the RealTechX Growth Program to support emerging technology businesses in the real estate sector and the wider built environment (‘RealTech’) to achieve rapid and sustained growth.
Through its consulting and investment work, Taronga Ventures has identified the substantial need to support RealTech businesses to achieve their growth objectives, which universally include better access to capital and better access to customers.
RealTechX will facilitate connections with a network of leading real estate corporates, as well as engaging with partners from government, tertiary institutions, and affiliated sectors. This level of market access is difficult for founders to achieve without facilitated engagements through existing relationships, especially in the real estate industry.
Julian Kezelman, Program Manager, RealTechX said the program launch was timed to support the rapid growth of innovation shaping the future of the built environment.
“In recent years, we have seen entrepreneurial activity in finance, health care and agriculture boosted by programs supporting FinTech, MedTech and AgTech startups — until now, the real estate sector has been left largely unsupported. We are excited by the opportunities that the RealTechX Growth Program will bring to promising real estate technology businesses”, Mr Kezelman said.
“RealTechX has been deliberately designed to meet the needs of later-stage companies — offering the deep industry expertise and market access these companies need to be successful. Our goal is to drive technology adoption and tangible commercial outcomes for all program participants and program partners”, Mr Kezelman said.
Jonathan Hannam, Managing Partner, Taronga Ventures, said the program highlights the need for Australia’s $182B real estate sector to prepare for the next phase of industry evolution.
“In 2018, the global property technology market received US$20B of venture capital investment and, since 2013, 60% of all property technology investment has been directed into the Asia Pacific region”, Mr Hannam said.
“RealTechX is Asia’s first government supported, industry-led scale-up program. Our aim with the program is to fast-track RealTech businesses and to help them to expand into new markets across Asia, with our network of strong local operating partners.”
Eligibility for the program
RealTechX is looking for applications from outstanding founders that:
- Have an emerging technology business;
- Have global growth potential;
- Have a market-ready product(s);
- Have demonstrated customer traction; and
- Serve the real estate, property, construction, utilities, infrastructure or built environment sectors.
Benefits for applicants
By applying for the program, participants are signing up to benefit from:
- Capital investment — $1 million total investment pool available to RealTechX program participants
- Customer introductions — Strategic introductions to leading real estate corporates from Taronga Ventures’ extensive networks in Australia and across Asia
- Growth expertise — Strategic advice, learning and support from Taronga Ventures and an ecosystem of investors, partners customers
Participants will also benefit from a fully structured program with:
- Access to further strategic investment from investors and partners
- Masterclasses specifically focused on sustained growth and international expansion
- Expert coaching from industry mentors and the Taronga Ventures team
- International linkages tour to Asia to meet customers and investors
- Access to all program sessions and partner networking events
Additionally, the program has partnered with a network of leading real estate sector corporates, allied corporates, government departments, tertiary institutions to offer participants unparalleled market access, expertise, and support. The first cycle of the program will run from January to May 2020 (with 2-days contact per month) and will be held across multiple Australian capital cities.
For applicants — Applications are open from 1 July 2019 to 30 August 2019 — apply now to be part of the RealTechX Growth Program. For further information on the program, visit the program website at www.tarongagroup.com/realtechx/ or contact the RealTechX team at firstname.lastname@example.org.
For partners — The program is supported by government, tertiary institutions and a range of leading real estate and allied corporates. For further information on partnership opportunities, contact the RealTechX team at email@example.com.