Sino Group and Ping An Smart City are teaming up to foster the future of property technology (PropTech) in the Greater Bay Area.
Through PropXTech, a new corporate innovation programme, the two aim to support promising companies in the Greater Bay Area to drive the growth of innovative real estate technology for the future, including drones, robotics, smart cities, machine learning and more.
PropXTech will kick off in February 2021 with an initial group of four to eight PropTech companies. All selected companies will participate in a five-month accelerator composed of training sessions, workshops and development with the ability for participants to test and fine-tune their technology in the real world. Upon completion, companies will also have the opportunity to meet with investors and affiliate partners to discuss potential funding.
According to a release, tech start-ups interested in applying for the programme should possess the following qualities:
- Market aspirations or major business operations in the Greater Bay Area
- Scalable products and services
- Existing customers and implementations in the Greater Bay Area
- Clear business models
- Sales, engineering, and operational capacities
"At Sino, we believe our path to the future is paved with technology and innovation. By developing a holistic solution, we aim at further improving our service offerings to transform the real estate industry," said David Ng, group associate director of Sino Group.
"The 'PropXTech' programme symbolises Ping An Smart City's efforts to assist the real estate and smart city industries in the Greater Bay Area to innovate and digitalise through the application of the latest technologies. With partners like Sino Group, we believe we could contribute to building the next generation of modern cities together," added Hu Wei, co-president and CTO of Ping An Smart City.