RealTech’ (from ‘real estate technology’) reflects any emerging technology business 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 (residential, office, industrial, retail, hospitality and infrastructure) 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 can be immediately implemented at scale with target customer(s) without further material development. At a minimum, this means a trial or proof-of-concept has been successfully delivered with positive outcomes clearly demonstrable. 

Real customer traction’ means customer(s) have implemented your product in their operations and/or assets. At a minimum, this means a trial or proof-of-concept has been successfully delivered with clearly demonstrable outcomes. 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, we will make exceptions to invite internationally registered companies with material operations in Australia or demonstrated plans to enter into the Australian market.

RealTechX has a 3-stage selection process: 1) application screening, 2) assessment criteria and 3) selecting participants. In 1) application screening, applications are reviewed for eligibility and only eligible applications advance. In 2) assessment criteria, 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 and references checks, before selecting and inviting the final group of program participants.

RealTechX has an AUD $1 million in total investment pool available to program participants.

Each participant will receive a minimum of AUD $50,000. The funding contribution will be provided during the program and will convert to equity at the participant’s next fundraising round with a 20% discount to the valuation at that time.

At RealTechX’s absolute discretion, participants may also receive further investment during or after the program and be provided access to additional sources of strategic capital.

Further details of the investment terms will be provided to successful applicants.

RealTechX is a 5-month part-time program. The first cycle of the program will run from January to May 2020. Participants will be required to attend for 2 concurrent days each month, meaning a total 10-day commitment over the program period. In addition, participants will be required to attend an Asian market linkages tour and other program events (i.e. customer meetings, investor networking and program showcase) 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 locations will be provided on being invited into the program.

Program dates and delivery may be adjusted by RealTechX at its absolute discretion.

Domestic program sessions will be held across different Australian capital cities with a different city specified each month. The program is being held across multiple cities to give better access to entrepreneurs and partners from different regions. A full program schedule with specified locations will be provided on being invited into the program.

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

RealTechX has partnered with leading corporates in the real estate, professional services, financial services and technology sectors. Specifically, we have partnered with a diverse group of real estate 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 in the program.

Taronga Group (‘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 our investors, to our investments and the communities in which we invest. 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 RealTech 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 Group is the parent of RealTechX.