PEXA launches PX Ventures to foster innovation in the property ecosystem

PEXA, operator of the world’s first digital property exchange platform, is proud to launch PX Ventures, a new entity with a mandate to identify, incubate and accelerate entrepreneurial businesses committed to innovation across the property industry ecosystem.

Building on PEXA’s legacy as a pioneering Australian technology company that is now exploring international expansion opportunities, PX Ventures has been established as a separate entity to build on PEXA’s technological and property industry expertise and entrepreneurial culture with like-minded innovators.

PX Ventures will offer entrepreneurs funding, bespoke services, and mentoring support to enable continued innovation and enhancement of new and existing products and tools for Australian consumers.

PX Launchpad, launched today, is a foundational pillar within the PX Ventures framework, targeted at start-ups that have identified and developed a product or service that can significantly transform the experience of Australian consumers, businesses or government departments involved in the property sector. Eligible ventures will receive tailored acceleration services worth up to A$100,000 to scale and commercialise their game-changing innovations. These services will include access to advice and coaching, professional services and a network of Australian and international venture investors and accelerators that includes the Harvard Alumni Entrepreneurs organisation.

As part of PX Launchpad, PX Ventures is offering scholarships to the Entrepreneur Development Program – a 30-week program for innovators and professionals in the Australian property services ecosystem who have an idea for a new product or service that may have the potential to form a start-up business. PX Ventures has partnered with the Institute of Advanced Business Studies (www.iabs.edu.au/entrepreneur) to deliver the program, with an initial round of 10 A$10,000 scholarships to be offered in 2021.

PEXA Chief Executive Officer Glenn King said PX Ventures presented an opportunity for the PEXA Group to apply its expertise, experience and entrepreneurial culture to drive innovation throughout the property ecosystem, improving the outcome for home buyers and sellers and all participants in the industry.

“PEXA was once a start-up and our success has been a result of the collaboration, support and backing of an entire sector, including the state-based land registries who had the foresight to digitise property settlements ahead of the rest of the world,” Mr King said. “Through the PX Launchpad, and subsequent initiatives to follow, we plan to replicate that successful model by working with like-minded entrepreneurs and businesses.”

PX Ventures Chief Innovation Officer Chris Bodikian said: “We know there is an army of innovators out there with the potential to revolutionise the property industry, just as PEXA has done over the past decade. PX Ventures provides a unique partnership proposition for anyone with a bright idea as we have the ability to invest capital into new ventures, and we have strong connectivity with property market stakeholders.”