MELBOURNE, Australia, Oct. 15, 2020 /PRNewswire/ -- Second Century Ventures, the strategic investment arm of the National Association of Realtors®, announced Thursday the opening of applications for the 2021 REACH Australia program. Following the success of its inaugural 2020 class, REACH Australia expects an even higher volume of applicants for the 2021 program.
"We have been delighted with the results of our first year," said Shelli Trung, managing partner, REACH Australia. "Even in the middle of a pandemic, we have been able to make more than 500 strategic introductions for our 2020 class, deliver over 100 hours of programming and provide exposure to numerous experts from the US, Europe, Hong Kong, Singapore and Australia. This is the power of REACH's global network."
The six companies within the inaugural REACH Australia class achieved significant milestones during their time in the program. Most notably, UbiPark, a smart parking mobility solution, announced a major partnership with Porsche, while property management platform Sorted closed an AU$5.6M fundraising round. Additionally, cohort companies have been invited to deploy their technology to green field projects, have worked directly with city planners to help build new cities from the ground up across Asia, and continue to work closely with major real estate groups to establish transformative pilot programs in Australia and Southeast Asia.
"The property industry has welcomed us with open arms, looking to us as a crucial source for new innovation as the workforce becomes digitized and as markets begin to rebuild after a tumultuous year," Trung continued. "From solutions to help tenants and consumers safely return to offices and shopping centres, to tools that help agents complete inspections, we are committed to advancing the property sector across Asia Pacific. We encourage all companies building innovative real estate technology that supports our industry's recovery to apply."
Applications for the 2021 REACH Australia program will be open until November 30, 2020. The 2021 program will commence in March 2021, and will provide selected participants with integral industry insights, mentorship and significant market exposure throughout Australia and Southeast Asia, along with access to the global REACH network.
About REACH REACH is a unique technology scale-up program created by Second Century Ventures, the most active global fund in real estate technology. Backed by the National Association of Realtors®, Second Century Ventures leverages the association's more than 1.4 million members and an unparalleled network of executives within real estate and adjacent industries. The REACH program helps technology companies scale across the real estate vertical and its adjacent markets through education, mentorship and market exposure. For more on REACH, visit www.narreach.com.
About the National Association of REALTORS® The National Association of Realtors® is America's largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.