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Boost for proptech start-ups as new mentoring programme launched

NAEA Propertymark joins forces with REACH UK to offer help and training to firms developing new proptech products.

Richard Reed

Link to Proptech News

NAEA Propertymark has teamed up with REACH UK to encourage proptech start-ups to develop innovative new products.

The aim is to boost the development of software that will help to streamline the property sales and rental business, freeing up agents to work on their core business.

REACH is a property technology programme that gives participants access to:

  • Mentoring from more than 350 property and technology thought leaders and executives from major brokerages and brands, technology companies and venture capitalists.
  • Education on how to navigate the property industry with the backing of the world’s largest trade association and its $5bn brand.
  • Exclusive access to more than a dozen of the property industry’s top conferences, tradeshows and networking events.
  • A global network of highly talented, like-minded entrepreneurs, including more than 100 REACH alumni companies and programme sponsors.
New solutions

REACH has encouraged tech start-ups to develop solutions for many aspects of the property industry, including marketing automation, agent safety, leasing, lending and transaction management, among others.

Participating companies have shown impressive results and REACH companies have raised more than $350m of follow-on financing and secured key partnerships with DocuSign, Google, Facebook and other major players.

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.

Early engagement

“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 proptech businesses flourish.”

Valentina Shegoyan, managing partner of REACH UK, said: “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.”

The REACH UK application process will open on 31 July and close on 30 September with selected companies announced in November 2020. The eight- to nine-month virtual and event-based programme will kick off in February 2021.

July 9, 2020

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