The first REACH Genesis conference in Brisbane has welcomed the latest batch of new PropTech companies and examined ways technology companies can better succeed in the industry.
Director of PropTech accelerator REACH Australia, Peter Schravemade, said it was the first time this kind of conference had run throughout the REACH programs worldwide.
“The concept of the gathering was to assemble the current group of REACH companies and any of the portfolio companies and mix all of those with some of the best industry knowledge in the form of some of our program mentors,” Mr Schravemade said.
Mr Schravemade said one of the key focuses of the conference was to identify where PropTech companies fail and then learn how to address those issues.
He said some of the areas that were discussed included how PropTech companies needed to improve their ability to communicate their product with all types of buyers.
How to build the actual technology behind the business, as well as how to improve the system, processes and efficiencies throughout the lifecycle of the company were also covered, he said.
There was also a large focus on how to market a PropTech company and get your product in the hands of the right people, as well as looking at the various ways PropTech companies could obtain funding, including how to effectively pitch to venture capital firms.
Mr Schravemade said the conference allowed PropTech companies to come together to identify areas of their business they can improve for the better.
“Based on my experience, being part of a PropTech is a constant feeling of grind and hustle at all costs,” Mr Schravemade said.
“Trying to develop, sell your product, stay afloat, and continue on an upward trajectory is a seemingly endless battle.
“The overall feedback has been that the conference enforces breathing room and a safe space to focus on the business as a business, gives names to experiences the companies are currently battling and importantly delivers solutions and service providers to help with that journey.”
Mr Schravemade said this year’s cohort was focused on ideas that could help agents sell more effectively and better manage rental properties.
“Unlike previous years, for no apparent reason, this year’s cohort is all residential real estate sales or property management focused,” he said.
“This year also features a much more healthy gender balance, with 50 per cent of the companies featuring women in C-Suite positions.
“This added another dimension to the conference, with conversations more robust and well-rounded.”
According to Mr Schravemade, there were a number of notable companies in attendance including newly certified by the CSIRO, Sensor Global, which have a product in the form of a home sensor that is changing the lives of property managers around the world.
“It removes the necessity for the regular assessment of smoke alarms, replacing that system with a self-reporting detection method,” he said.
“This is a game-changing innovation in the industry and an incredible time and peace of mind innovation for the under-pressure property managers.
“Brand new to the market and most importantly, it saves lives.”
The conference featured a host of speakers including communication expert, Warren Tate, CEO of PTAA and RISE Initiative, Kylie Davis, Samantha McLean, Ebonnie Schravemade, Tom Ellis, Mosstyn Howell of Ubipark and Dave Garland and Tyler Thompson, Managing Partners of the NAR REACH global program.
