Managed property fund EG has launched EGX, a technology incubator aimed at helping build the future of the property and real estate industry across ANZ and globally.
Initiated in 2021, EGX already holds a portfolio investment of $100 million and is currently supporting three innovative and high growth companies spanning a wide range of growth areas in the proptech market including digital twins, data analytics and intelligence, sustainability, and more.
With EGX, EG Funds aims to support the evolution of the real estate and property industry, and shake up the property landscape by getting behind the next tiny giants.
EGX is looking to provide Seed and Series A funding to founders with a global reach ambition and requires additional funding to scale up. It says the goal is to scale these tiny-giant start-ups into high performing, global businesses, with a commitment to lead them all the way to their IPO while ensuring returns for investors.
Adam Geha, CEO, EG commented: “The real estate and property industry is ripe for disruption. Technology is bringing amazing opportunities to the table and it is important that start-ups with ambitious teams and great ideas find the support they need to bring these ideas to life.”
“As a real estate funds manager, EG is constantly innovating to deliver the best, risk-adjusted returns for our investors and that clearly involves deployment of world-leading technology. This is why we launched EGX. It’s here to fuel the future of proptech, and help solve tomorrow’s challenges for the entire industry. We address a gap in the collaboration between industry expertise and entrepreneurs.”
Amongst the technologies that EGX are particularly looking into and that have the promise to drive the future of the real estate industry are digital twins, the Internet of Things (IoT), artificial intelligence (AI), data analytics, sustainability technology, and more.
According to Tony Massaro, partner, PWC Integrated Infrastructure, Real Estate Advisory: “Real estate as an industry is on the cusp of having some great innovation as early adopters are scaling up. Proptech has now become a fast growing segment of the real estate market, with new start-ups being created every week. The challenge is to identify and support the technologies and business models that will realistically drive the industry forward and EGX is uniquely positioned to do that.”
EGX already counts three high growth companies in its portfolio, each playing in a promising area of proptech:
- Willow - Co-founded by EG, Willow is an Australian-based company that empowers asset owners and operators to make proactive, data-led decisions in real time to grow their profits, reduce their expenses and better manage risk, through the power of their innovative digital twin technology WillowTwin™. The company has already raised $58 million and is expanding globally.
- Reveal - This Kiwi company is helping cities and engineering firms look deeper by building a digital twin that provides digital accurate mapping for sub-surface infrastructure and enabling a future that is more accessible, more reliable and more connected.
- FLNT This marketplace provides actionable commercial real estate intelligence. The platform aggregates and maps a large number of internal and external data sets into one data lake in the cloud to allow the user to search, subscribe, visualise and analyse data at speed.
According to Tony Massaro, partner, PWC Integrated Infrastructure, Real Estate Advisory: “Real estate as an industry is on the cusp of having some great innovation as early adopters are scaling up. Proptech has now become a fast growing segment of the real estate market, with new start-ups being created every week. The challenge is to identify and support the technologies and business models that will realistically drive the industry forward and EGX is uniquely positioned to do that.”
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