Leading Australian property investment and funds management group, Charter Hall (The Group)
, has collaborated with corporate innovation consultancy and startup accelerator, Collective Campus
, to launch the first Australian real estate technology accelerator program.
The real estate sector has been awash with disruptive technologies significantly changing the consumer experience. Recent property-focused startups—including Purple Bricks
, and WeWork
—have revolutionized the way agents, investors, lenders, property owners, and managers engage with their customers to deliver an enhanced experience to the consumer. According to CBInsights
, property technology startups raised $2.6 billion in 2016, a 40% increase from the previous year in what is one of the fastest growing startup sectors.
Charter Hall chief technology officer Aidan Coleman said, "We are proud to partner with Collective Campus in a partnership that will enhance our understanding of how technology will shape the real estate sector. Innovation has always been a part of our DNA, and this partnership is a testament to this."
Charter Hall was a finalist in the 2016 Realcomm "Digie" Awards (short for Commercial Real Estate Digital Innovation Awards). The purpose of this award is to recognize real estate companies, real estate projects, technologies, and people that have gone above and beyond to positively impact the industry through the use of technology, automation, and innovation.
"With a $19.8 billion national property portfolio across office, industrial, logistics, and retail property sectors, we want to build our understanding of disruption, how relevant it is to our business, and how we position ourselves to take full advantage of future disruption. We want to deliver better experiences for our investors, tenants, our people, and the communities we operate in," Mr. Coleman said.
The accelerator program will consist of a 13-week incubation period at Collective Campus where a network of educators and mentors from both the corporate and startup sectors will work with the selected startups to help them find product-market fit and gain traction, culminating in a demo day in front of investors, media, and partners. Charter Hall will be hands-on, offering industry-specific expertise and leveraging its smarts and key relationships to help startups accelerate.
"This process is exciting, as it will allow us to collaborate and diversify our thinking of innovation to be more responsive to challenges impacting our core sectors and how we offer solutions to our customers in the future," Mr. Coleman added.
Collective Campus CEO Steve Glaveski said: "Property tech is one of the fastest growing startup sectors, which is hardly surprising seeing as property and our relationship with and experience of it - whether as buyers, renters, investors, or agents - transcends every aspect of our lives, from where we work to where we eat, play, shop, and live."
"Exponentially growing technologies, such as the internet of things, big data, machine learning, and lower technological barriers to entry for startups are converging. The result is that the often-referred-to-as "archaic" real estate industry is on the cusp of significant change."
"We're thrilled to be partnering with a forward-thinking and fast-moving company, like Charter Hall, to help identify and develop startups in this sector. Then we can create value for us at home and in the workplace."
The Group, which manages one of Australia's largest central business district office portfolios, recently launched another Australian first: teaming with United States based company Comfy
to provide its people within the office environment personalized climate control technology via an app on their mobile phones.
In collaboration with its tenant customers, Charter hall aims to introduce this technology and others across its portfolio as part of its efforts to offer an integral suite of services that will assist the Group to provide a new level of customer experience.
Startups working on solutions with applications in commercial property and investment management are encouraged to apply to the program at www.charterhallaccelerator.cc
About Charter Hall
Charter Hall Group has grown since its launch in 1991 to become one of Australia's leading property investment and funds management groups, with a total managed property portfolio of $19.8 billion. The Group owns 329 commercial properties around Australia, including office buildings, supermarket anchored retail centers, and a rapidly growing stable of industrial assets, on behalf of institutional, wholesale, and retail investors. Angus Booth, manager at Charter Hall, can be contacted at [email protected].
About Collective Campus
Collective Campus is an innovation hub, school, and consultancy based in Melbourne and Singapore that works with companies to help them adopt the mindset, methods, and tools to succeed in an era of rapid disruption. The company has helped incubate over 50 startups that have gone on to raise more than $10 million and has worked with companies such as Village Roadshow, Microsoft, Sportsbet, Clifford Chance, King & Wood Mallesons, BNP Paribas, Telstra, and more.Steve Glaveski, Collective Campus CEO, can be contacted at [email protected].