Proptech program - Choose Brisbane

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INTRODUCING THE PROPTECH INITIATIVE

Brisbane Economic Development Agency’s Property Technology (PropTech) Initiative has been established to support Brisbane’s technology cluster associated with the property and construction industry. The PropTech Initiative delivers regular thought leadership events and bespoke programs that have been created in conjunction with the property industry to provide local PropTech businesses pathways for national and international expansion.

The PropTech Initiative collaborates with universities, local businesses, and international capital firms to ensure Brisbane’s PropTech cluster has a competitive advantage over its national counterparts while also contributing to the local property economy.

The PropTech Initiative supports emerging technology businesses in three key lifecycle stages:

  • Development Stage – Technology businesses generating under $500K in annual revenue
  • Scale Stage – Technology businesses generating $500 to $2M in annual revenue
  • Growth Stage – Technology businesses generating $2M + in annual revenue

ABOUT THE PROPTECH CLUSTER

Property Technology (PropTech) is one of the world’s fastest-growing technology verticals with an estimated $20 billion worth of investment expected to stimulate the sector this year. With over 60% of this $20B in investment captured by the Asia Pacific region, there is an opportunity for Brisbane to attract significant capital and support the growth of this technology sector. The Australian property industry is among the most transparent across the globe and has seen a 400% growth in PropTech companies in the past five years and will continue to generate a large number of jobs.

Research undertaken in conjunction with PwC indicated that without digitisation employment in the property sector is expected to increase to 41,700 in South East Queensland (SEQ) by 2038-39. However, with digitisation, employment in the SEQ property sector is forecasted to increase to between 49,000 and 63,400 jobs.

Program 1: Meet the Industry

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The PropTech Meet the Industry Program supports emerging proptech entrepreneurs to refine their products, access a network of property industry experts and thought leaders, and get invaluable advice from the entrepreneurs who have done it all before.

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Program 2: Pilot Program

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The PropTech Pilot program is designed to support scaling proptech companies to refine their business model, test their products in different markets, launch a pilot initiative, and create invaluable networks that can help bolster their businesses progress.

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Program 3: Bridging Initiative

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The PropTech Bridging Initiative is for established proptech companies that currently generate between $500k to $2M annual revenue. The Bridging Initiative supports proptechs as they look to scale their product in the national and international market.

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HOW CAN THE PROPERTY INDUSTRY GET INVOLVED?

BEDA’s PropTech Initiative is designed to support new and established property technology businesses in brisbane to progress to where they want to be. And, if you’re a consumer of proptech products, need technology solutions to solve the programs your property business faces, or a thought leader in the property industry who wants to share your insights and advice, we want you to be a part of it.

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