Aiming to shape the future of innovation in the building automation industry, the Hub provides startups, scaleups and corporates with support and a curated community, in addition to a coworking space in Sydney’s CBD.
Companies in the Hub will be able to work with Honeywell to develop their ideas, run trials and pilot proof-of-concepts with Honeywell and its customers. The Hub will also provide them with world class support through mentors and introductions to potential partners, investors, customers and the wider tech community. Companies will also benefit from opportunities to participate in industry events, meetups and pitching opportunities with Honeywell and YBF.
YBF’s coworking space will be a source of customer engagement for Honeywell and will also allow PropTech startups to be immersed within the tech community. Through collaboration with startups, the Hub hopes to address unmet customer challenges with innovative solutions.
Startups in the Hub will be able to bring agility and speed to complement Honeywell’s expertise in software and solution development, thereby creating an ecosystem that can address a broader array of challenges across critical environments.
Themes for the PropTech Hub include building automation, predictive analytics/AI, internet of things, apps, lifecycle and asset management, the built environment, enterprise insight and optimisation, space utilisation, augmented reality, machine learning, workflow optimisation and occupant engagement/experience.
YBF has pioneered and advanced Australia’s technology-focused entrepreneurial ecosystem through its successful innovation hubs. YBF Melbourne launched Melbourne’s first and largest fintech hub in partnership with the Victorian Government in 2018, as well as the world’s first Web 3.0 Hub in partnership with the Federal Government. YBF also launched Australia’s first LawTech Hub with contemporary law firm Lander & Rogers.
Honeywell is a Fortune 100 technology company that delivers industry specific solutions. These include aerospace products and services, performance materials and technologies for buildings and industry. With over 115 years of experience, some of Honeywell’s technologies and services in the building industry help keep workplaces and environments safer, more energy efficient, sustainable and productive.
YBF’s CEO, Farley Blackman, said that the PropTech Hub will be joining a group of powerful federal and state government-backed initiatives.
“Working with an iconic global brand like Honeywell on YBF’s first PropTech Hub is fantastic,” said Mr Blackman, adding that “Leading innovation for Australia is our number one remit at YBF and relationships such as these are foundational. As we’ve just opened our first site in Sydney, I can’t think of a better way to inaugurate the space.”
The Hub is looking for companies that are relevant to the Hub’s themes. Companies need to have a working solution that is in the market or have gone through and accelerator/incubator program. Eligible companies also need to have either secured seed funding or have successfully raised a round of funding.
Two innovation cycles will take place each year. Applications are now open for the Hub’s first intake (October 2019), which will select four property-focused startups to engage and collaborate with.
Cover Image: YBF Sydney (Image: YBF Ventures)