Press Release: 1 April 2019
RealTechX Receives Australian Government Support
Taronga Ventures has secured support from the Australian Federal Government’s Department of Industry, Innovation and Science for its 2019 and 2020 RealTechX Growth Programs. The Growth Program is an integral part of the ecosystem that Taronga Ventures has created in the Asia region, to support early stage companies that are focused on enhancing real estate, the wider built environment and the communities in which we work, live and play.
Innovation and the Real Estate Sector
There has been a surge in activity across Asia and globally, with companies developing technologies and innovation which impact traditional models of real estate and the wider built environment. At the same time there has been a substantial increase in capital targeting those companies from both industry-based investors as well as venture capital.
In Australia, major institutions like the Industry Superannuation Property Trust (ISPT) have undertaken strategic reviews to assess the impact of technology on their portfolios and how they should react. ISPT invests on behalf of some of Australia’s largest industry superannuation funds, and ultimately, the 50%+ of working Australians who have their retirement savings invested in property through them. In December 2018 Taronga Ventures entered into a partnership with ISPT.
RealTechX has been designed as a best of breed, scaleup and growth program, focusing on companies that are of relevance to the major real estate groups across Asia. The Program includes investment into companies, capability development, facilitated introductions to strategic corporate customers, partners and investors, one-on-one coaching and international linkages visits.
A number of major industry corporates, investors and mentors have provided support to RealTechX and formal program details will be announced shortly, with a first intake in late 2019 and then a second intake in 2020.
Taronga Ventures Managing Partner, Avi Naidu commented, “RealTechX will be looking to support a broad range of high potential businesses impacting traditional estate models and the built environment. The Program’s focus is on much more than traditional ‘proptech’, we look at innovation across energy & sustainability, construction, mobility, infrastructure and technologies creating smarter cities – all the things that are materially impacting the commercial, retail, industrial, hotel and residential sectors.”
Taronga Ventures Managing Partner, Jonathan Hannam added, “It is fascinating to see the shift in the real estate sector and the quality of companies that are now looking to enhance it. The market clearly needs a dedicated scaleup program connecting companies to customers and strategic capital. RealTechX is designed to be a positive industry-led catalyst that will accelerate participants within the ecosystem.”
For Industry and Corporate Partners – the program is industry led and provides open participation opportunities for the leading real estate stakeholders across the region in sectors including office, retail, hotel, residential, construction, industrial, logistics and infrastructure. For further details contact the Taronga team on [email protected]
For Government and Tertiary Partners – the program has received strong support from Government and Tertiary Institutions and we welcome further collaboration. For further details contact the Taronga team on [email protected]
For Candidates – groups with technology / innovation directly impacting real estate and the wider built environment will be invited to participate in the program. More details about the Program and Applications dates will be announced soon. To pre-register your interest and/or to join our mailing list, email the program team by contacting [email protected].