"We want to get insights into a start-up's perspective on the digitalization of construction."
Construction Start-up radar
Construction start-ups go digital
The construction industry is just at the beginning of digitization. However, its vast potential extends across every link in the construction value chain. While digital construction holds many opportunities, the same trends are expected to disrupt traditional processes and routines.
Digital solutions for the construction industry include e-commerce platforms for construction materials, building information modeling (BIM), but also apps and project management tools with a construction focus.
Mobile solutions for the construction site in combination with project management software will substantially increase the efficiency of the construction process. Such tools connect stakeholders and enable them to collaborate better and faster. For instance, construction plans can be managed and updated with real-time data from the site.
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In today's construction business many processes still involve pen and paper. On the other hand, digital tools not only require new skills, but also more details in up-front-planning to actually achieve the intended levels of transparency and quality.
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We expect start-ups to be a significant driver of the digital disruption. This is the first overview of an industry in the midst of transformation. Companies may come and go, therefore we are convinced that identifying and monitoring trends in innovation is key to understanding the construction industry. Crunchbase provides a platform to approach such firms. The database is not exhaustive, but for us, it generated valuable insights.
Based on these data the number of construction start-ups is still lower than in other industries. However, construction is by no means a non-digital field.
- Time lag: The number of companies with a construction focus founded per year reached its peak two years after the energy business.
- Strong growth: Start-up activity within the construction industry has increased by 9% p.a. between 2000 and 2014 and is outperforming other industries' start-up growth (energy: 4% p.a., manufacturing: 2% p.a.)
- Digital focus: Top keywords for construction companies founded after 2000 include "software" (8%), "mobile" (5%), and "enterprise software" (4%) Other industries often focus on hardware-related topics.
In the months to come, we will follow up on our THINK ACT publication about the Digitization of the construction industry
The future is here
We want to get insights into a start-up's perspective on the digitalization of construction. Therefore, we interview managers of numerous start-ups. They all answer the same set of questions to make their assessment comparable. We will introduce these entrepreneurs and their businesses models offering their perspective, their experience and judgments to this growing digital construction community. We look forward to witnessing nothing less than the transformation of a very traditional industry. The future is here.
We compile for you the first overview of an industry in the midst of transformation.
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