My guest in this episode is Shelli Trung, the head of the REACH programme in Australia and South-East Asia.
REACH have just recently announced their first cohort of proptechs from Australia, New Zealand and Singapore. Shelli tells us about the programme and how the innovators are being supported by REACH are transforming real estate into the future.
If you’ve been following the rise of accelerators and venture capital in the proptech space, this is a really interesting interview because Shelli shares how the REACH programs across the different countries work together – and the opportunities this offers, not just for Australian and Kiwi companies wanting to expand overseas, but how overseas businesses are being given a leg up to come to our neck of the woods.
01:23 Shelli gives us her elevator pitch and explains the problems that the REACH problem solves.
03:02 A little bit of history about the program and how it works as a scaling program, rather than an accelerator.
04:31 Shelli talks about how the real estate industry can be affected and inspired by technology that is occurring on the fringes of real estate and how REACH responds to that.
06:31 Why all technology invested in by Second Century puts the real estate agent at the centre of the transaction.
07:23 Why REACH have created an Asia Pac program rather than just Australian, and what Australia can learn from Asia.
08:49 Shelli explains how Australian proptech punches above its weight.
12:44 The importance of traction in being accepted into the REACH program and why being involved too early can kill startups.
14:17 How the REACH program works and the challenges you need to be able to overcome seamlessly in order to be eligible.
15:57 How the APAC REACH and the US REACH program will work together.
19:02 How – and why – the REACH program is different from an incubator and what goes on if you get in!
21:36 Shelli introduces the first cohort – the lucky six businesses out of more than 100 that applied. Shoutouts to UbiPark, PAM, Sorted, UX Strata, Igloo Homes and Realty.
30:56 How real estate agents can engage with the REACH program. Join the Insight Panel!
34:47 How Australian proptech compares globally.
36:25 Shelli talks about how developments in retail and commercial real estate are influencing residential and what we can learn from that.
39:39 Shelli shares her five year vision for real estate and technology including agents who work from home while handling more transactions, the influence of an ageing population, the walkability of buildings and changing ways that we buy and sell property assets and improvements in design driven by data.