Queensland's peak real estate body partners with US venture fund to identify and support proptech startups
Queensland's peak real estate body has entered a formal agreement with a US-based technology venture fund to accelerate property technology development in the state.
The Real Estate Institute of Queensland (REIQ) and Second Century Ventures (SCV) announced the Memorandum of Understanding on Tuesday. SCV, which is backed by the National Association of REALTORS and holds a portfolio of more than 375 companies globally, will collaborate with the REIQ to identify, fund, and support startups working across real estate and technology.
Under the agreement, SCV will provide global research and access to emerging technologies through its REACH Australia and New Zealand team. The REIQ will contribute local market knowledge, industry engagement, and policy advocacy.
"Our vision is for Queensland to be the epicentre of proptech in Australia and, as a market experiencing sustained growth, supply pressure and regulatory reform, we have much to gain from innovation," said Antonia Mercorella (pictured right), chief executive of the Real Estate Institute of Queensland.
Mercorella pointed to the broader pressures facing the housing sector as a driver for the partnership.
"We believe proptech innovation has an important role to play in helping address some of the wicked housing problems we face in Australia at all levels of government," she said. "This collaboration with Second Century Ventures gives us a practical pathway to identify and explore solutions that support a strong and sustainable housing system."
SCV managing partners Dave Garland and Tyler Thompson said the agreement reflected the fund's commitment to the Queensland market.
"The REIQ brings progressive leadership, strong practitioner engagement, and meaningful influence with government – all essential ingredients for real estate technology to scale successfully," Garland said. "We see Queensland as a market with both urgency and opportunity, and we want the global innovation community to view this partnership as a clear invitation to collaborate, test, and grow."
The agreement builds on an existing relationship between the two organisations. The REIQ has previously supported the REACH Australia scale-up program, offering mentorship and guidance to early-stage technology founders.
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