As part of our advisory activities at Mind the Bridge, we are continuously looking for the most innovative startups around the world that fit the verticals we are focusing on.
Being a sector where digital technologies have not yet been fully exploited, with many complex processes still relying on manual paperwork and several different stakeholders involved, it is no news that the Construction sector is particularly prone to disruption. As a matter of fact, according to McKinsey, the sector’s annual productivity growth has only increased by 1% over the past 20 years, with $1.6 trillion of extra value-added to be potentially created through higher productivity.
The stakes to improve efficiencies are therefore extremely high – as potential revenues for innovative winners.
With solutions ranging from digital twins to advanced project management tools, you will find below our short selection of the most interesting European innovators active in the construction sector which we have had the pleasure to meet with during the past year.
The construction sector is a thriving and dynamic field for innovation. Multiple technologies and startups are emerging worldwide to help businesses tackle the inefficiencies that today characterize the whole construction cycle – from design to planning, execution, and monitoring. As a side note, it is also worth noting how the selection features several companies from the UK, a construction and innovation heavy-weight country. In fact, when considering the state of the European scaleup ecosystem in the past year, the UK leads the pack both in terms of the number of scaleups (2217) and capital raised ($39.5 Bn), as found in our Tech Scaleup 2019 report.
From our side, we will keep looking for the most interesting innovators around the globe that could support the transition to a more efficient – and sustainable – way of constructing.
*sources: Crunchbase, Pitchbook, Mind the Bridge