NAEA Propertymark partners REACH PropTech scale-up programme

NAEA Propertymark has partnered with scale-up programme REACH UK to help its members navigate through the world of technology by selecting the best startups and launching them into the marketplace.

REACH's PropTech programme was created by Second Century Ventures, an active venture capital fund in the global real estate technology space.

The former National Association of Estate Agents (NAEA) and its bilateral partner in the United States, the National Association of Realtors, is now backing the programme.

With a presence in the US, Australia, Canada and the UK, the REACH UK participants will have access to:

• Mentoring from more than 350 real estate and technology thought leaders and executives from real estate brokerages and brands, technology companies and venture capitalists.

• Education on how to navigate the trillion-dollar global property industry with the backing of the world’s largest trade association and its $5 billion brand.

• Exclusive access to more than a dozen of the property industry’s conferences, trade shows and networking events.

• A global network of like-minded entrepreneurs, including more than 100 REACH alumni companies and curated programme sponsors.

REACH has attracted technology startups developing solutions for multiple aspects of the real estate industry, including marketing automation, pay at close renovation, agent safety, leasing, lending, transaction management and tokenisation.

Graduating REACH companies have in total raised more than $350 million of follow-on financing and have secured key partnerships with DocuSign, Google, Facebook, Coldwell Banker, RE/MAX and Berkshire Hathaway HomeServices.

The UK application process will open on 31 July and close on 30 September, with selected companies announced in November. The eight to nine month virtual and event-based programme will kick off in February 2021.

Mark Hayward, chief executive of NAEA Propertymark said: “PropTech is an exciting and growing industry in the UK and the launch of REACH UK’s scale up programme comes at a time when many start-ups will be concerned about their future as a result of COVID-19.

"This programme will allow them to develop a piece of technology that will make a difference from the very beginning, with early engagement from the sector to make sure that the products work for property agents - we have seen that the programme has had great success in the US and look forward to working with the team to see these businesses flourish.”

Valentina Shegoyan, managing partner of REACH UK, added: “We are excited to work with Propertymark to share the mission of equipping estate agents with the right tools and transforming the industry to reinforce that estate agents remain essential to consumers.

"We also provide the industry with unique access to programme participants where they can provide direct feedback to help shape and drive the technology - estate agents will be able to access exclusive insight via our Insight Panel.”

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