‘RealTech’ (from ‘real estate technology’) refers to any technology or innovation serving the real estate sector and wider built environment. This definition includes businesses operating anywhere along the real estate lifecycle (planning, development, design, construction, sales, leasing and asset management), in any real estate asset class (office, retail, infrastructure, industrial, hospitality and residential) and beyond into supporting technologies (i.e. platforms, data, internet-of-things) and into related classifications (i.e. mobility, energy).

A ‘market ready product’ is a product that has been implemented with target customer(s) with measurable outcomes. At a minimum, this means a pilot of the solution has been successfully delivered with positive outcomes demonstrated. Typically, this means your solution is ready to be deployed at scale without further development.

‘Demonstrated customer traction’ means customers have implemented your solution in their operations and/or assets. At a minimum, this means a pilot of the solution has been successfully delivered with positive outcomes demonstrated. Typically, this means customers are paying you to use your product on a continuing basis.

You do not need to be an Australian company to apply. Most companies in the program will be Australian however, on a case-by-case basis, RealTechX will make exceptions to invite international companies with material operations in Australia or demonstrated plans to enter into the Australian or Asian market.

RealTechX has a 3-stage selection process: 1) application screening, 2) application filtering and 3) selecting participants. In 1) application screening, applications are reviewed for eligibility and only eligible applications advance. In 2) application filtering, applications are scored against a number of performance factors and a shortlist is selected. In 3) selecting participants, RealTechX conducts further due diligence, including interviews, company and market analysis and references checks, before selecting and inviting the final group of program participants.

RealTechX may assist with arranging investment for program participants from related entities. Any investment into participating companies will be subject to due diligence, negotiation of commercial terms and will be provided at the absolute discretion of RealTechX and its related entities.

RealTechX is partnered with the Real Tech Ventures Fund (RTV), being a subsidiary of Taronga Ventures. RTV is an institutionally backed venture capital fund focusing on identifying and investing in technology companies that positively impact the real estate sector and the built environment, either through business model innovation or product innovation. RTV sources, secures and manages investments into early-stage technology ventures in Australia and across the Asian region.

Discussions around investment terms will be opened with successful program applicants.

RealTechX has partnered with leading corporates in the real estate and built environment sectors. In part, these corporates have partnered with the program for the opportunity to identify potential solutions to implement into their assets and businesses. Further, the selection of participants into RealTechX will be informed by the needs and preferences of these partners. Prior to and during the program, introductions will be made to select program partners (at each partner’s absolute discretion) to open commercial discussions about potential pilots and implementations.

RealTechX has partnered with leading corporates in the real estate, built environment, professional services, financial services and technology sectors. More specifically, the program has partnered with a diverse group of corporates that looking for emerging technology solutions to implement into their operations and assets – the main target customers for RealTechX program participants. Other partners have been invited to provide services and expertise to build out the value offered through the program.

RealTechX is a 5-month part-time program. The upcoming cycle of the program will run in early 2021 with dates to be confirmed soon. Participants will be required to attend for two concurrent days each month, meaning a total 10-day commitment over the program period. In addition, participants will be required to attend an international market tour and other program events (i.e. customer meetings, investor networking and program showcase events) from time-to-time.

Participants will be required to commit to the entire program and to attend scheduled sessions in person (or, by reasonable exception, via video-conference).

A full program schedule with specified dates and locations will be provided to companies invited into the program. Program dates may be adjusted by RealTechX at its absolute discretion.

The program is being held across multiple cities to give better access to partners, customers and investors from different geographies. Domestic program sessions will be held across different Australian capital cities and the international market tour will happen in Singapore.

A full program schedule with specified dates and locations will be provided to companies invited into the program. Program locations may be adjusted by RealTechX at its absolute discretion.

After the scheduled program, the RealTechX team will work closely with participants for a further 6-months to support them to deliver upon near-term growth objectives. Participants will also become part of the RealTechX Alumni Network, meaning they will be invited to participate in ecosystem events and to help future RealTechX participants to be successful.

Taronga Ventures (‘Taronga’) is an investment house, specialising in real estate and real estate technology for global institutional and high net worth investors. Taronga provides innovative solutions that deliver lasting value for investors, investees and the communities in which the group invests. Taronga has extensive experience across global markets and asset classes and is supported by strategic and institutional partners across Asia, the Middle East, the US and Europe.

In 2018, Taronga launched the Real Tech Ventures Fund (‘RTV’). RTV is a specialised venture capital fund focusing on identifying and investing in technology companies that positively impact the real estate sector and the built environment, either through business model innovation or product innovation. RTV sources, secures and manages investments into early-stage technology ventures in Australia and across the Asian region.

Taronga Ventures is the parent company of RealTechX.