Innovation and coworking hub YBF Ventures is teaming up with Honeywell Building Technologies to develop a Sydney-based proptech hub focussing on building automation.
The new PropTech Hub, at the YBF’s recently opened Sydney CBD coworking space at 155 Clarence Street, will be a source of customer engagement for Honeywell, the US tech multinational, which has been in Australian for nearly 60 years serving customers with aerospace products and services; control technologies for buildings and industrial; automotive products; and specialty materials. It has more than 1,500 employees in 28 offices across Australia and New Zealand.
YBF Ventures CEO Farley Blackman said working with Honeywell was the perfect way to launch the Sydney space.
“The Honeywell PropTech Hub will be joining a group of powerful federal and state government-backed initiatives,” he said.
“Leading innovation for Australia is our number one remit at YBF and relationships such as these are foundational.”
The proptech startups involved will focus on developing agility and speed to complement Honeywell’s expertise in software and solution development. Two innovation cycles will take place per year, engaging with and collaborating with four property-focused startups.
The PropTech Hub is now open for applications to join the first intake. You can find details and apply here.
YBF’s pioneering work in technology-focused began in Melbourne, creating the city’s first and largest fintech hub in partnership with the Victorian government, going on to open the world’s first Web 3.0 hub in partnership with the Commonwealth government last year.
In July, YBF took over neobank Tyro’s CBD Fintech Hub, launching YBF Sydney with 150 desks and a focus on Web 3.0, legaltech, artificial intelligence (AI), machine learning (ML), cybersecurity, and immersive experience technology.
YBF has also partnered with contemporary law firm Lander & Rogers for its Australian-first LawTech Hub.