Introducing the PropTech Initiative
Brisbane Economic Development Agency’s Property Technology (PropTech) Initiative has been established to support Brisbane’s technology cluster associated with the property and construction industry. The PropTech Initiative will deliver regular thought leadership events and bespoke programs that have been created in conjunction with the property industry to provide local PropTech businesses pathways for national and international expansion.
The PropTech Initiative will collaborate with universities, local businesses, and international capital firms to ensure Brisbane’s PropTech cluster has a competitive advantage over national counterparts while also contributing to the local property economy.
The PropTech Initiative will look to support emerging technology businesses in three key lifecycle stages:
- Development Stage – Technology businesses generating under $500K in annual revenue
- Scale Stage – Technology businesses generating $500 to $2M in annual revenue
- Growth Stage – Technology businesses generating $2M + in annual revenue
Property Technology (PropTech) is one of the world’s fastest-growing technology verticals with an estimated $20 billion worth of investment expected to stimulate the sector by the end of 2020. With over 60% of this $20B in investment captured by the Asia Pacific region, there is an opportunity for Brisbane to attract significant capital and support the growth of this technology sector. The Australian property industry is among the most transparent across the globe and has seen a 400% growth in PropTech companies in the past five years and will continue to generate a large number of jobs.
Research undertaken in conjunction with PwC indicated that without digitisation employment in the property sector is expected to increase to 41,700 in South East Queensland (SEQ) by 2038-39. However, with digitisation, employment in the SEQ property sector is forecasted to increase to between 49,000 and 63,400 jobs.
PropTech Pilot Program
The PropTech Pilot Program aims to support the City’s property and construction industry through strategically partnering emerging PropTech businesses with industry leaders.
Through the PropTech Pilot program, the successful cohort, comprised of emerging PropTech companies will access support to refine their market entry strategy, co-create a pilot initiative ready for market, and receive facilitated connections to property industry partners for pilot delivery.
why should you apply?
Over the course of the 8-week program, participants will receive:
- Support in the refinement of their market entry strategy (week 1-4)
- Co-creation of an industry-specific pilot initiative ready to go to market (week 1-4)
- Access to 40+ masterclasses, mentoring sessions and workshops facilitated by industry experts (week 1-4)
- Introduction to Brisbane’s leading property companies and networks (week 5-8)
- 8-weeks residency at the Brisbane Business Hub in Brisbane CBD
- Participation in the Brisbane EDA Property Technology Summit 2021
who should apply?
- Early-stage PropTech companies that are between pre-revenue to $500K annual revenue
- PropTech companies with an MVP product looking for industry validation and early adoption customers
- PropTech companies looking for support in navigating the property landscape
- PropTech companies looking for support in pitching and securing their initial customer
**Applications close 12 February 2021.
PropTech Bridging Initiative
The PropTech Bridging Program will support scale-up companies that currently generate between $500K to $2M annual revenue as they look to scale their product nationally and internationally.
This program will be launching in April 2021.
For further information on this initiative, please complete the form below.