Leaders in the construction industry outline the investment opportunity areas for Construction Startup Competition 2020

    Project design and engineering, supply chain management, digital solutions for project and jobsite management, innovative materials and construction methods, smart cities and buildings.

    CEMEX Ventures, Ferrovial, Hilti, Vinci Group´s Leonard and Nova by Saint Gobain present the challenges that the startups participating in the Construction Startup Competition 2020 will have to tackle if they want to succeed.

    The fragmented nature of the construction industry and its scarce use of new technologies is well known. In this edition of the Construction Startup Competition, five industry leaders are looking to address this situation by identifying new solutions to invest in, test and implement in different markets. CEMEX Ventures, Ferrovial, Hilti, Vinci Group´s Leonard and Nova by Saint Gobain have identified five areas of opportunity within the construction value chain.

    What type of solutions are they looking for?

    The contractors and supplier of materials, equipment and tools are looking for startups that offer innovative methodologies, new technologies that help boost affordable and sustainable development, and solutions that optimise both production times and expenses.

    The five companies that are organising the Construction Startup Competition 2020 have identified the following areas of opportunity.

    1. Project design and engineering

    In order to drive change into the construction industry, new techniques and tools must be implemented in order to maximise the efficiency and quality of projects from the design, engineering and planning phases. The solutions presented for this area must offer improvements in the following areas:

    • project bidding and budgeting
    • digitalisation (BIM) and 3D models
    • lead generation tools
    • project design and specifications

     

    1. Supply chain management

    An effective supply chain management system ensures that the different stakeholders within the construction industry can obtain materials and services at the right time and in the right place. Optimal management of resources and inventory is fundamental for guaranteeing success and ensuring that the project deadlines are met. Therefore, participating startups must submit innovative and technological solutions that allow for a better:

    • inventory and fleet management
    • resource sourcing
    • provision of materials in the market

     

    1. Digital solutions for project and jobsite management

    Having access to digital tools that promote productivity, efficiency and quality of the daily management of on-site work is essential for any company in this industry. In order to streamline systems and ensure ongoing communication, which will in turn boost the working cycle capital, the participating startups must present solutions that offer:

    • planning and scheduling
    • communication, automation and monitoring of platforms
    • programming and compliance of health, safety, environment and quality parameters (HSEQ)
    • data analytics, benchmarks and reports

     

    1. Innovative construction methods and materials

    To modernise the construction industry, it must incorporate new materials and technologies. This allows for more efficient and cost-effective developments to be implemented, responding to the current needs of the industry. In this competition, startups will be evaluated considering their use or development of:

    • low carbon footprint materials and performance enhancers
    • robotics for automation
    • new construction methods (i.e. modular and/or industrialised construction, prefabrication, etc.)
    • industry 4.0 (development of sensors, smart machinery, use of artificial intelligence, etc.)

     

    1. Smart buildings and cities

    In order to build the metropolis of the future, we must promote smart cities and buildings with a common denominator: technology, sustainability and quality of life. Therefore, participating startups should offer solutions that promote resilient and collaborative cities, by incorporating:

    • smart building technology
    • adequate waste management systems in construction, demolition and excavation (CDE)
    • asset maintenance and management

     

    All of the participating startups must clearly state the benefit that their project offers. From the implementation of new software, to the development of machinery, every proposal will be considered, regardless of the complexity of the project in question or the investment required.

    Promoting new ways of working and innovating in the construction industry is certainly a challenge.  That is why big companies in the sector are looking to drive the construction revolution by combining the innovative ideas of startups with their historical knowledge and their industry network.

    Having five big companies leading the search for startups through Construction Startup Competition 2020 confirms the need for change in the industry and their commitment with it. By participating in this year´s competition, the startups will have a greater chance to reach out to well-established companies with proven track records. At the same time, they will be able to make use of the resources that these companies have to offer to further develop their proposals and see their project reach its maximum potential.

    Does your startup offer a solution for any of these areas for opportunity? Participate in Construction Startup Competition 2020 and become a leader in the construction revolution! More information on the LINK.