The Australian Proptech Industry Map 2021 - Contact Us 0428 655 507 WWW.PROPTECHBNE.COM - Australia and ...

Page created by Terry Holt
 
CONTINUE READING
The Australian Proptech Industry Map 2021 - Contact Us 0428 655 507 WWW.PROPTECHBNE.COM - Australia and ...
The Australian Proptech Industry Map 2021
        BUILDING AUSTRALIA'S PROPTECH ECOSYSTEM

Q2. 2021           Contact Us
DELIVERED BY:      INFO@PROPTECHBNE.COM
PROPTECH BNE.      0428 655 507
155 QUEEN STREET   WWW.PROPTECHBNE.COM
BRISBANE
The Australian Proptech Industry Map 2021 - Contact Us 0428 655 507 WWW.PROPTECHBNE.COM - Australia and ...
Foreword
   Property Technology (Proptech) is one of the world’s fastest-growing technology verticals, poised to revolutionise and
   reshape how humans design, construct, transact and interact with property infrastructure.

   The Australian Proptech Industry Map (APIM) is an annual report highlighting the growth of the Australian proptech
   economy.

   The national and international proptech economy is growing at a tremendous rate. With the significant increase of industry
   engagement, venture capital, accelerator programs, and startups coming together to form our Australian proptech
   ecosystem, this report aims to be a centralised point of visibility and connectedness.

   2021 marks the inaugural year for the APIM report with the ambition that this annual project can continue to grow from
   strength to strength over the coming years. Whilst it is incredibly vital to keep our eyes on the horizon and focus on the
   growth of our ecosystem, this report also provides snapshots in time which can be used for industry benchmarking.

   The APIM is an initiative led by Proptech BNE. and supported by The Proptech Association of Australia.

   Proptech BNE. exists to support the development of            The Proptech Association of Australia is a not-for-
   the proptech community here in Brisbane and                   profit trade association that champions technology
   Southeast Queensland.                                         within the real estate industry along with driving
                                                                 conversation between industry and proptechs.
   Founded by Isaac Coonan and led by Paula Guino
   and Julian Brockhurst, Proptech BNE. champions                Founded by Kylie Davis, Proptech Association
   industry collaboration, startup amplification, and            Australia champions best practice, quality,
   sector growth in Brisbane Australia.                          collaboration, and consistency and seeks to drive
                                                                 growth through education, standards, and industry
                                                                 insights.

PAGE 2                                                                                                         PROPTECH BNE. APIM REPORT 2021
Supporting the Australian
   Proptech Ecosystem From
   Strength to Strength
   Proptech BNE. is delighted to be playing a part in bringing further visibility, connection, and validation to the
   Australian Proptech sector. We may be a small team but we’re passionate about seeing this technology cluster
   continue to grow.

   We recognise the potential of the Proptech ecosystem and not just for the digital/technology solution created to serve
   the property sector, but for the broader impacts of an innovation cluster working hand-in-hand with industry,
   government, and capital to create sustainable change in the Australian economy.

   The Australian innovation ecosystem has seen some notable peaks and troughs in the past decade which has provided
   incredible learnings to the next generation of startups, startup supporters, and capital. Proptech BNE. is dedicated to
   leveraging these learnings to ensure the proptech economy remains relevant, achieves tangible outcomes, and is
   positioned as an innovation leader within the Australian economy.

   This is by no means a one-team effort, we have worked closely with The Proptech Association Australia along with the
   Proptech BNE. council of 2021 to promote, aggregate, and deliver this report and I am personally grateful to each and
   every one of them.

   I would like to give a very special thank you to the highly impactful Proptech BNE. 2021 team, Paula Guino, and Julian
   Brockhurst. Their dedication, excitement, and love for this sector are in large part why Proptech BNE. exists and will
   continue to serve the local proptech ecosystem.

   I truly hope the data in this report is of value to you and if there is any way I or Proptech BNE. can support you
   directly, please feel free to reach out.

   info@proptechbne.com

PAGE 3                                                                                                           PROPTECH BNE. APIM REPORT 2021
Methodology:

   The 2021 Australian Proptech Industry Map was an online survey
   delivered over a period of eight weeks, from the 26th of January to
                                                                            Sector Engagement
   the 12th of March 2021.

   During this period, proptech companies from all over Australia were        TOTAL ENGAGEMENT
   encouraged to voluntarily supply information on their proptech
   business, their founding team, growth rate, market entry strategy, and
   investment.
                                                                                     4,290
   To comply with data security and usage, Proptech BNE. ensured that             Responses Provided
   each respondent of the survey was informed of how their data would
   be captured, used, and reported on before mandating each respondent
   gave data rights permission to the team at Proptech BNE.                             130
                                                                                 Participating Proptech
   In total, Proptech BNE. received 4,290 response answers coming from                 Companies
   a total of 130 different proptech companies in Australia. To ensure
   accuracy within the APIM, the team at Proptech BNE. could only use
   92 of the completed responses.                                           VALIDATED ENGAGEMENT

   Promotion for the APIM was delivered via social media, leveraging
   Proptech BNE., Proptech Association of Australia, and our supporters.
   Proptech BNE. also reached out directly to incubators, accelerators,               3,036
   co-working spaces, and venture capital firms to amplify the                Validated Responses Provided
   marketing efforts.

   An important differentiator for the APIM is the focus on capturing                    95
   information from the emerging proptech ecosystem (companies                    Revenue Generating
   founded in the past five years), whilst promoting the efforts of               Proptech Companies
   revenue-generating startups.

PAGE 4                                                                           PROPTECH BNE. APIM REPORT 2021
Australian Proptech Founder Profile.
    Who are the founders at the forefront of property technology in Australia?

GENDERS                                                                                                           EDUCATION

          81.5%
   of proptechs in AU are
       founded by men
                                                                                                                  45.7%
                                                                                                                Have a masters
          17.4%
    of proptechs in AU are                                                                                        42.5%
                                                                                                                Have a Bachelors
      founded by women

                                                                                                                 EXPERIENCE
 AGE

                                                                                                                Education
                                      40.3                                              58.7%
                              is the average age of AU
                                                                                 of AU proptech founders have
                                  proptech founders
                                                                                 previous industry experience

           44.5                                       39.4                             11 Years
   is the average age of AU                   is the average age of AU              is the average industry
   female proptech founders                   male proptech founders                experience of the 58.7%

 PAGE 5                                                                                   PROPTECH BNE. APIM REPORT 2021
Founder                                                                                                                   AU proptech
   Profile                                                                                                                   founders are
                                                                                                                             ell educated
   Unpacked
                                                                                                                             with
   Genders:
                                                                                                                             significant
   As this is the inaugural year for the APIM, 2021 can be the initial year of benchmarking for diversity within the
   proptech economy. According to Startup Muster report in 2019, female founders made up 22.3% of all startups founded       industry
   in Australia.
                                                                                                                             experience.
   According to APIM, female founders make up a mere 17.4% of proptech companies founded in Australia. This level of
   underrepresentation is not uncommon in the property or technology sectors, however, it poses a significant risk for the
   growth proptech economy in Australia.

   Age:
   The average age for proptech founders in Australia is 40.3 years old.
   This data suggests that the average age of a proptech founder is seven years older than the national average of 34, as
   reported by SmartCompany in 2020.

   Breaking down the data further, the average age for female founders of an Australian proptech company is 44.5, with
   the average for male founders coming

   Education:
   Australian proptech founders as a majority are well educated from a tertiary standpoint, with 45.7% of all proptech
   founders in Australia holding a master's degree, followed by 42.5% of proptech founders holding a bachelor's.

   8.6% of Australian proptech founders hold a grade 12 certificate and either a certificate 4 or diploma with the final
   2.2% of proptech founders in Australia have not completed grade 12.

   Experience:
   58.7% of all proptech founders in Australia have previous experience working in the property sector. Whilst 11 years is
   the average experience for proptech founders, when breaking down the data further, of that 58.7%, 20.3% have 20 years
   + industry experience..

PAGE 6                                                                                                          PROPTECH BNE. APIM REPORT 2021
Proptech Foundation and Expansion
     Where are Australian proptech being founded and where do they want to go?

FOUNDATION                                                                                                                     EXPANSION

        40.2%                            3.3%                                        42.5%                           12.3%
           Queensland                 Western Australia                          looking to expand into         looking to expand into
                                                                                 United States/Canada                 Singapore

        31.5%                            2.2%
      New South Wales                  South Australia                               23.6%                           11.3%
                                                                                 looking to expand into         looking to expand into
                                                                                  The United Kingdom                Greater Europe
        20.7%                            2.2%
             Victoria                     ACT

  PAGE 7                                                                                           PROPTECH BNE. APIM REPORT 2021
Proptech                                                                                                                40.2% of
                                                                                                                           proptech
   Foundation and Expansion
                                                                                                                           companies in
   Unpacked                                                                                                                Australia have
   Foundation                                                                                                              been founded
   The APIM classifies a Proptech Startup as being “an emerging technology business creating a product and/or service
   that benefits either all factions or individual factions of the property economy.”                                      in QLD and
                                                                                                                           42.5% of
   The APIM classifies a Proptech Startup as being “an emerging technology business creating a product and/or service
   that benefits either all factions or individual factions of the property economy.”                                      Australian
   According to the data in the 2021 APIM, Queensland has the highest number of proptech startups with 40.2% of
                                                                                                                           proptech
   validated participating companies being founded in the QLD. New South Wales was the second-highest state with           companies are
   31.5% followed by Victoria with 20.7% of companies founded in their respective states.
                                                                                                                           looking to
   The additional percentages are captured by Western Australia at 3.3%, South Australia at 2.2%, and ACT again at 2.2%.   scale to the US
   Factors that have led to the majority of proptech companies being founded across QLD, NSW, and VIC are yet to be
                                                                                                                           or Canada!
   Expansion
   When posed with the question “Is Your Proptech Looking to Scale Into New Global Regions”, the proptech economy
   shared that 42.5% of companies are looking to scale into the United States and/or Canada in the 2022 financial year.
   The size of the US and CA property sectors is enticing to an emerging technology startup and there are now proven
   models of how proptech products can scale into the US with the likes of BoxBrownie, Rate My Agent, ActivePipe
   paving the way for the next generation of startups.

   The United Kingdom is the county of choice for international scale for 23.6% of the Australian proptech economy in FY
   2022, followed by Singapore at 12.3% and then Greater Europe at 11.3%. Programs such as REALTechX by Taronga
   Ventures and REACH Australia by Second Century Ventures are playing a crucial role in the globalisation of the
   Australian proptech economy through the creation of international market channel pathways.

PAGE 8                                                                                                       PROPTECH BNE. APIM REPORT 2021
Are Proptechs Creating Jobs?
        Is one of the fastest-growing technology verticals in the world creating jobs for the Australian economy?

TOTAL JOBS
EXPERIENCE                                                                                                                                JOBS BY STATE

                                                                                                                                        39.2%
                                                                                                                                      New South Wales
             2171 Local Jobs
                 The Australian Emerging                                                                                                35.7%
                Proptech Economy Current                                                                                                  Victoria
              Employs 2171 Full Time Staff in
                        Australia                                                                                                       22.3%
                                                                                                                                        Queensland

JOBS EXPERIENCE
     GROWTH

  Since 2017, the emerging proptech economy has created a total of 699
  new jobs for the Australian economy. Data from the APIM indicates that
  proptech companies in Australia on average support 13 full time staff.

  Proptech companies founded in 2017 currently represent 208 full-time
  jobs of the total 2,171 and of the revenue-generating proptechs founded
  in 2021 over 100 jobs are represented. This indicates that the Australian
  proptech economy is creating more jobs at a faster rate.

   PAGE 9                                                                                                           PROPTECH BNE. APIM REPORT 2021
Proptech                                                                                                                Proptech
   Jobs                                                                                                                    companies
                                                                                                                           founded in
   Unpacked
                                                                                                                           2021 created
   It is a well researched and proven fact by organisations such as KPMG, PwC, and Deloitte (refer to research papers at
                                                                                                                           100+ full time
   the end of the report) that the emerging proptech economy is one of the fastest-growing technology verticals in the
   world, but what does that mean in the way of creating employment opportunities within the Australian economy?           jobs in the first
   Of the validated responses received in the APIM in 2021, Australian proptech companies are currently supporting 2,171
                                                                                                                           quarter alone.
   jobs here in Australia. This number only refers to individuals who are employed in Australia and does not include
   international staff.

   Since 2017, the emerging proptech cluster has created a total of 699 new jobs for the Australian economy. Data from
   the APIM indicates that proptech companies in Australia on average support 13 full-time staff.

   Proptech companies founded in 2017 currently represent 208 full-time jobs of the total 2,171 and of the revenue-
   generating proptechs founded in 2021 over 100 jobs are represented. This indicates that the Australian proptech
   economy is creating more jobs at a faster rate.

PAGE 10                                                                                                       PROPTECH BNE. APIM REPORT 2021
Proptech Sectors
     What sectors of the traditional property industry are proptechs looking to
     service and how are they selling their product?

 SECTORS
EXPERIENCE                                                                                                      CUSTOMER STRATEGY

   EXPERIENCE

   23.2%                    19.9%                       15.8%                     32.8%          19.9%                 15.8%
   Residential              Property                    Commercial                 Referral      Social Media           Direct
   Real Estate             Management                   Real Estate               Marketing       Marketing            Marketing

  PAGE 11                                                                                     PROPTECH BNE. APIM REPORT 2021
Proptech,
   Proptech
                                                                                                                             much like
   Sectors                                                                                                                   property is a
   Unpacked                                                                                                                  relationship
   Opportunity presents itself in all sectors of the real estate industry and proptech companies are advancing the digital   driven
   agenda and enabling digital transformation. While the real estate industry may collaborate with proptechs for a           industry with
   variety of reasons, according to KPMG Global Proptech Survey (2019), proptechs are brought in to improve efficiencies
   (65% of the time), reduce costs and improve decision-making.                                                              32.5% of
                                                                                                                             proptechs
   Of the validated responses received in the APIM in 2021, 23.2% of Australian proptech companies are currently serving
   the residential sector and they are followed by 19.9% focusing on property management solutions, 15.8% serving the        using referral
   commercial real estate sector and 14.5% delivering construction technology, among a few others. When combining the
   proptechs focusing on property management and commercial real estate as a whole, it is clear that CRE represents a
                                                                                                                             marketing as
   large portion of the technology being developed, totalling 35.7%.                                                         their customer
   The recent boom in proptech companies globally demonstrates the need for change in the industry’s culture to one
                                                                                                                             acquisition
   that creates and sustains innovation as a way to ultimately drive the industry - across sectors - to achieve its goals.   strategy.
   There continues to be an opportunity - as an ecosystem - to drive a shift in perception of the overall benefits of
   collaboration between industry and proptech companies to one that will deliver return on investment. This will
   significantly narrow the opportunity gap.

PAGE 12                                                                                                          PROPTECH BNE. APIM REPORT 2021
Are Proptechs Getting Funded?
        Is there funding to support the growing proptech economy in Australia?

TOTAL FUNDING
  EXPERIENCE
                                                                                                                   FUNDING
                                                                                                                    JOBS BY BY STATE
                                                                                                                            SECTOR

                 $94,181,000
            Of funding has been secured by AU
              proptech companies since 2010

                          This graph represents the investment pattern of
FUNDING GROWTH
      EXPERIENCE          proptech companies based on if they are still in                                                EXPERIENCE
                          operation and the year they were founded

                                                                                 $42.6 M                     $6.7M
                                                                                 New South Wales           Western Australia

                                                                                  $28.1M                     $1.8M
                                                                                   Queensland               South Australia

                                                                                  $13.8M                       $1M
                                                                                     Victoria                    ACT

     PAGE 13                                                                                    PROPTECH BNE. APIM REPORT 2021
Proptech                                                                                                                   The Proptech
   Funding                                                                                                                    Economy in
                                                                                                                              Australia has
   Unpacked
                                                                                                                              Collectively
   According to the data in the APIM for 2021, the Australian proptech economy has collectively raised over $94 million
                                                                                                                              Raised $57M+
   dollars since 2010. This funding is a mixture of industry/government grants, corporate venture capital, venture capital
   and family office funding.                                                                                                 in the Past 5
   The $94 million dollars of funding is also only in reference to proptech companies that are still in operation since the
                                                                                                                              Years.
   data has been collected by proptech founders and executive staff. The $94 million is probably significantly higher
   when you take into account the number of companies who have either listed and or been acquired, or who have
   received funding but had to cease operations.

   The data in the APIM also reflects a significant portion of the $94 million has been raised by companies in the past
   five years, with the report showing that since 2017, $57 million has been raised, over 60% of the total funding raised
   since 2010.

PAGE 14                                                                                                          PROPTECH BNE. APIM REPORT 2021
Are Proptechs Growing?
           Is there a pattern of revenue growth for Australian proptechs?

REVENUE FY20
 EXPERIENCE                                                                                                         ANNUAL GROWTH
                                                                                                                       EXPERIENCE
This graph represents the
percentage breakdown of
revenue for Australian
proptech companies during
the 2020 financial year.

REVENUE FY21
 EXPERIENCE
    EXPERIENCE                                                                                                            EXPERIENCE
       5.4%
  Increase in proptechs
generating $500K to $1M
   from FY20 to FY21

       8.2%                                                                       36.1%                             9.7 %
                                                                              have a 100%+ Annual             have a 21% to 51% Annual
 Increase in proptechs
                                                                                 Growth Rate                        Growth Rate
generating $1M to $3M
  from FY20 to FY21

       3.6%                                                                       16.7%                            13.9 %
                                                                            have a 51% to 100% Annual         have a 11% to 21% Annual
  Increase in proptechs
                                                                                  Growth Rate                       Growth Rate
    generating $10M+

       PAGE 15                                                                                  PROPTECH BNE. APIM REPORT 2021
In the FY21
   Proptech
                                                                                                                                 the Australian
   Growth                                                                                                                       proptech
   Unpacked                                                                                                                     sector grew
   As 2021 was the inaugural year for the APIM report, the survey only captures three key data sets to assess the               by 8.2% of
   revenue growth rate of the national proptech economy.
                                                                                                                                companies
   Firstly, the APIM map captured annual revenue earnings during the FY20 period. As this is sensitive data, the AMIP           generating
   report allowed founders and/or executives to share their FY20 revenue on a scale:
                                                                                                                                over a million
   Sub $500K > $500K to $1M > $1M to $3M > $3M to $5M > $5M to $10M > $10M to $20M > $20M +                                     dollars in
                                                                                                                                annual
   According to the data collected, 72.5% of proptech companies in Australia fell into the sub $500K annual revenue, with
   10% making it into the $500K to $1M and another 10% in the $1M to $3M bracket. From there it was a rapid drop to             revenue.
   2.9% of proptech companies in the $3M to $5M and 2.9% in the $20M+ bracket.

   The second data set captured was "known and expected FY21'' annual revenue. The APIM was officially closed to
   recipients at the end of Q3 for the 2021 financial year so there is a mix of known and expected revenue for this data
   set, however, it will be consolidated in the APIM 2022 report and allows Proptech BNE. to benchmark industry earnings
   moving forward.

   From the known and expected FY21 revenue, there is a positive outlook for the proptech sector in the form of revenue
   growth, with a 5.6% increase of companies in the $500K to $1M bracket with the new percentage of 15.6. The increase
   in the $500K to $1M bracket is noted in the Sub $500K bracket which saw a decrease in FY 2021 to 58.4%, a 14.1%
   decrease from the previous financial year.

   Another notable increase in the FY21 numbers was the $1M to $3M bracket which saw an 8.2% increase from the
   previous financial year. The $1M to $3M bracket is now the largest bracket for the sector at 18.2% outside the sub
   $500K bracket.

   Whilst the majority of the other brackets either remained the same or had very little change, the $20M+ bracket had a
   1% increase, bringing the total percentage for that bracket to 3.9%. Whilst this is a very small change, it is one of note
   as it is the highest bracket on the scale.

PAGE 16                                                                                                          PROPTECH BNE. APIM REPORT 2021
What Are Australian Proptechs Needing?
      Here is what the proptech economy is needing.

 NEEDS                                                                                                                               NEEDS DATA
JOBS BYLETTER
        SECTOR                                                                                                                     JOBS BY SECTOR

    If the consolidated feedback was to be put into the form of an open
    letter from the proptech ecosystem, it would read something like
    this:

    "The Australian proptech ecosystem is growing and growing
    fast, we as proptech founders need to see an increased level of
    early-stage capital, mentorship, and engagement both from the
    broader startup ecosystem and from the property industry
    itself. Opportunities to learn from and engage with the industry
    in a format that allows for rapid POC’s to be developed and
    tested is vital to the long-term success of our sector.

    We as an ecosystem need to do a better job at being open with
    our ideas, plans, and requirements to ensure we create an
                                                                           Collaboration between protech startup / scaleups
    economy built on insights, data, kinship, and community.                                                                          NEEDS
                                                                                                                                      JOBS BYQUOTED
                                                                                                                                              SECTOR
                                                                                               Data standards & Interoperability
    In the short term, this looks like an increase of value-driven        More government investment to encourage/fund Proptech startups
    networking opportunities and industry events along with access
    to industry data. In the long term, this looks like an increase in                                 Collaboration between protech startup / scaleups
                                                                          early stage / seed funding >$1mill
    shared learning between companies and a willingness to
    collaborate."                                                                            More events that help in product distribution and awareness
                                                                          Access to detailed data on the property value chain          Pilot programs
    The support from government and regulatory organisations in           and how technology is positively disrupting the
    the form of access to standardized data and insights will allow                                                         Industry connection points
                                                                          industry
    us as an industry to better understand the sector and create                                     Willingness, incentives to pilot innovations within
    products purpose-built for the national property economy.                                        ecosystems
                                                                           Influential change agents
                                                                                                           Founders who have experience in property developmen
                                                                                                           and the industry that they're aiming to target.
                                                                          Direct networking of Founders

   PAGE 17                                                                                              PROPTECH BNE. APIM REPORT 2021
Proptech                                                                                                                  Top 3 Needs:
   Needs
                                                                                                                             1) Industry Support
   Unpacked
   As part of the data collection process for the 2021 APIM, a question was asked to proptech founders and executives to
                                                                                                                             2) Funding
   better understand and gauge the current needs of the Australian proptech ecosystem according to founders.

   The highest-ranking response was “Industry Support” at 20.7% with the vast majority of comments calling for an
   increase in structured engagement between the property industry and proptech ecosystem.
                                                                                                                             3) Mentoring

   The comments requesting “Industry Support” ranged from indicating that industry associations should be doing a
   better job in demonstrating and delivering cross-collaboration opportunities for their members and the emerging
   technology cluster, to asking for industry corporations to create formal internal structures to allow for more seamless
   engagements.

   Access to “Funding” was the second-highest-ranking response at 15.5% and in particular, access to seed/early-stage
   capital, sub $1M, to ensure companies looking to build, validate and pilot their product have the capability to do so.

   “Mentoring” along with “Standards and Guidelines” came in neck and neck at 12.1%. When looking at the request for
   mentors, there was less of a focus on the startup ecosystem or business mentors, rather a need for industry
   professionals and thought leaders to mentor proptech startups directly. The leading call for “Standards and Guidelines”
   was around data, how as an industry, there needs to be further visibility into the way property corporations collect,
   store and use their data.

   “Validation Opportunities”, “Collaboration”, “Events and Networking” all come in at under 10% however, the individual
   comments were all suggesting similar outputs. The emerging proptech ecosystem according to proptech founders and
   executives needs an increased level of visibility, willingness to collaborate, and appetite to engage with each other.

PAGE 18                                                                                                         PROPTECH BNE. APIM REPORT 2021
Proptech BNE.
   Meet The
                                                                                                                            is strategically
   2021                                                                                                                     led by 12
   Proptech BNE. Council                                                                                                    Australian
   Proptech BNE. is privileged to have 12 industry thought leaders representing our organisation on an annual basis. For    Property
   2021, the Proptech BNE. Council is made of a truly unique group of individuals representing the professional services
                                                                                                                            Thought
   sector, development, commercial and residential real estate along with leading proptech founders.
                                                                                                                            Leaders.
   The purpose of the Proptech BNE. council is to provide strategic guidance on all key initiatives along with supporting
   the core team with industry insights to ensure every project delivered has industry relevance and tangible outcomes.

          Josh Callaghan                Jess Caire               John Christian                Jeremy Hastings
                CEO                 Executive Manager          Technology Director                 Founder
           Little Hinges                  PEXA                       IMANI                          Hutly

          Kylie Davis               Kylie McKiernan               Jason Titman                 Adam Di Marco
           Founder                  Product Manager             Managing Director             Managing Director
 Proptech Association Australia           ARUP                   Intergr8 Group                Urban Developer

       Belinda Nankivell              Julian Kettle               Sophie Betts          Domonic Thompson
              COO                        Partner            CRE Development Manager National Head of Real Estate
  Australian Property Institute      White & Partners             West Village            Macquarie Bank

PAGE 19                                                                                                        PROPTECH BNE. APIM REPORT 2021
"What does success look like for a proptech ecosystem?"

                       "Property is a constant part of our lives and impacts the way we live, work, educate, socialise, travel etc. Proptech is
                       playing an ever-increasing role in making our relationship with property easier and more efficient. Proptech BNE. is
                       here to support proptech initiatives taking them from an idea to successful businesses at the same time growing the
                       tech sector in QLD."
    Julian Kettle

                       "Collaboration and cooperation sit at the heart of all great startup ecosystems and it's no different for Proptech.
                       Founders, enablers, universities, and the industry all need to approach the ecosystem as a community where greater
                       success comes from greater participation. Sharing ideas, making introductions, and being generous with information
                       are the meaningful ways in which individuals contribute to the ecosystem. The responsibility sits on all of us to create
                       a great proptech ecosystem here in Queensland and the wider APAC region.                                           Education
    Josh Callaghan

                       Success for a Proptech Ecosystem will be where the industry and tech-based solution companies work in harmony to
                       address issues such as inefficiency, lack of innovation, and poorly executed human engagement. With so much
                       opportunity to remove friction from the process and improve UX/CX, the ability to create new value in property should
                       be a key driver in ensuring a strong partnership with the industries served by Proptech companies.
  Domonic Thompson

                       A successful proptech ecosystem brings innovative products or new business models to the property industry’s ever-
                       evolving digital landscape. Proptech aims to build a strong, prosperous, and efficient property sector by offering new
                       investment opportunities and the ability to anticipate the needs of clients across all facets of the industry.

   Belinda Nankivell

PAGE 20                                                                                                     PROPTECH BNE. APIM REPORT 2021
"How can the Australian proptech ecosystem scale to the
   next phase of growth?"

                     Creating Common Information Models around niche areas of concern would allow systems to all speak and interact
                     under a unified data model which would help to eliminate silos, connect systems, increase observability and ultimately
                     drive the industry forward by helping all boats to rise.

    John Christian

                     By unlocking the benefits of data, we can continue to transform and simplify the property experience for everyone.

                                                                                                                                    Education
      Jess Caire

                     There is an urgent need for common data structures and definitions and more open-source data engagement. This will
                     both allow greater collaboration and innovation within the proptech sector, empowering tech businesses to solve the
                     genuine pain points of property owners and agents. It will also deliver greater insights and value to property owners,
                     freeing them from the obligation to lock into suppliers, giving them back ownership of their own data, and giving them
      Kylie Davis    the ability to manage, plan and receive the value from upgrades that make their portfolio smarter.

                     Proptech provides solutions to a range of complex and diverse problems faced by the property industry. Some of these
                     solutions are incremental and others may well be transformative. I don’t know if it’s possible for an “ecosystem”
                     comprised of technologies that are so different from each other to scale uniformly. Rather I expect there will be some
                     standouts whose uptake will be widespread and others that just won’t make it. A strong and differentiated value
                     proposition, realistic/competitive pricing and compelling champions within the industry are key to the success of the
     Sophie Betts
                     proptech sector in Queensland.

PAGE 21                                                                                                PROPTECH BNE. APIM REPORT 2021
"What gives Australia a competitive advantage in growing
   a thriving proptech ecosystem?"

                      “Property development across all sectors is a passion for Australia, property development is almost in our DNA, this
                      provides an incredible backdrop to encourage innovation, challenging the status quo and the opportunity to build a
                      world-class proptech ecosystem.
     Jason Titman

                      Australia's urban development industry delivers some of the highest quality buildings and places. Coupled with a
                                                                                                                                      Education
                      robust performance-based planning regime, efficiency construction code, diverse financial base and a culture that loves
                      property and embraces technology, we are in a fairly good position to support a protech ecosystem.
    Adam Di Marco

                      Australians have an irrational obsession with homeownership. This insatiable thirst, exacerbated by landlocked areas
                      driving demand, has created an inaccessible market for first homeowners. At the same time, generation rent are
                      coming through, who have different priorities and perspectives on homeownership. This perfect storm for Proptech,
                      coupled with the Covid catalyst of technology adoption, creates once-in-a-lifetime market conditions.
    Jeremy Hastings

                      As Australians, we have always been obsessed with real estate from personal investments through to large
                      corporations investments and how we interact with our investments and stakeholders, which has given us the
                      advantage of being ahead of the other global communities when it comes to technology and adapting to that
                      technology!
   Kylie McKiernan

PAGE 22                                                                                                  PROPTECH BNE. APIM REPORT 2021
You can also read