- Between 260 to 480 proptech businesses in Australia with most launched in past 5 years
- 61% in residential real estate
- New national not-for-profit member association to grow market adoption and support education initiatives.
A new association has been launched to raise awareness of the tech solutions available to the real estate industry and support and improve the property innovation landscape.
The Proptech Association of Australia seeks to support the rapidly growing proptech industry by creating a community united by the desire to grow the market for proptech, improve education and create common standards to enable the successful adoption of technology.
The association has been established by proptech entrepreneur Kylie Davis and innovation hub Stone & Chalk.
“The investment flowing into proptech and the innovation it is fostering is quite extraordinary and escalating rapidly, growing more than 400% since 2013. This creates real challenges that a member association is best placed to address,” said Kylie.
“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 startup 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.”
The Proptech Association will be a not-for-profit trade association that supports training, education and support for proptechs, helping them access a bigger market and introduce common standards to make vendor selection easier.
“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,” said Kylie.
The CEO of Stone & Chalk, Alex Scandurra, said the innovation hub, with its roots in fintech, was a natural home for the Proptech Association.
“The rate and pace of innovation in proptech is as intense as it was in fintech,” Alex said. “Fintech is a close sibling to proptech because of the value of property as an asset and, 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 startups were able to benefit from. It’s the right time to propel our proptechs onto the world stage.”
The Proptech Association joins the Regtech Association of Australia and Insurtech Australia which all call Stone & Chalk home.
Founded in fintech, Stone & Chalk has an impressive track record in shaping the future of emerging tech sectors. Stone & Chalk supports startups and scaleups to catalyse commercial success across our impact network by providing structured programs and facilitating access to customers, capital talent, expertise and community.
Kylie Davis is a commentator and proptech entrepreneur, who is a co-founder of the content automation startup, HomePrezzo, host of the Proptech Podcast, and organiser of Proptech Popup. She has an MBA from the University of NSW, and consults to a range of technology companies including OpenAgent and Dynamic Methods. She was a finalist in the thought leadership category of the 2019 REB Women in Real Estate Award.
