ARIZONA LAUNCHES:FIRST-IN-THE-NATION PROPTECH SANDBOX

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Arizona PropTech Sandbox Eligibility and Rules

Below you will find the basic requirements and guidelines for participation in the Arizona PropTech Sandbox. We also recommend reviewing the following documents:

  • Applicants must demonstrate a regulatory process which would otherwise prevent or delay testing and operating in the State of Arizona. The primary reason for operating in the sandbox is to grant approved exemption from burdensome regulations and allow a company to go-to-market quickly and test with appropriate oversight.
  • Applicants must also demonstrate that they are an entity or individual that is subject to the jurisdiction of Arizona, and that they have established a physical or virtual location which is:
    • Adequately accessible to the ACA;
    • Where testing will be developed and performed; and
    • Where all required records, documents and data will be maintained.
    • Note: Applicants not currently headquartered in Arizona will be required to establish an operational presence in the state by the time testing in the sandbox begins, in order to qualify.
  • Applicants will be required to provide additional information or clarification on submissions as requested by the ACA.
  • Approved applicants will be required to adhere to the guidelines and requirements set forth within a Certificate of Admission document.
  • Approved applicants will agree to complete their testing within a set period that is not longer than twenty-four (24) months from the date their sandbox application is approved.
  • Sandbox participants will be required to provide performance reports to the ACA covering items such as, but not limited to, the following:
    • How many consumers are engaged in the testing.
    • The progress of achieving key milestones during the testing.
    • Key metrics on monitoring and assessing the progress and success of the testing.