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YBF Ventures, Honeywell launch real estate tech accelerator

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Australia’s YBF Ventures and US conglomerate Honeywell have teamed up to launch a Sydney-based technology start-up accelerator for the real estate sector.

The Honeywell PropTech Hub aims to develop the segment ecosystem by providing an environment to develop new services for Honeywell, which has an office in Sydney, as well as other domestic corporates. YBF will provide co-working facilities and networking support.

"Working with an iconic global brand like Honeywell on YBF's first proptech hub is fantastic," Farley Blackman, CEO of YBF, said in a statement. "The Honeywell PropTech Hub will be joining a group of powerful federal and state government-backed initiatives."

Melbourne-based YBF has significant experience establishing specialized innovation programs. These include a financial technology hub created in partnership with the Victoria government, a legal tech accelerator set up with law firm Lander & Rogers, and YBF Mesh, a platform for start-ups developing novel internet infrastructure and protocols.

Real estate tech has proven an attractive niche in Australia, with NAB Ventures, a unit of National Australia Bank, recently backing early-stage rounds for start-ups called BrickX and ActivePipe. More traction around the region includes growth rounds for China's Qianhai Dadao, Japan's Renoveru, and India's NestAway, which received an approximately $56 million Series D last year.

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