As the global population rises and emerging markets undergo breakneck industrialization, the volume of global construction output expected to grow to $15.5 trillion by 2030. The global construction boom is naturally fueling demand for innovative solutions to make construction safer, more efficient, and more evo-friendly.
It is no surprise that the Startup Nation is fully embracing the trend. There are more 50 active Construction-Tech startups and 100 in the complimentary field of property technologies – bringing innovation to construction, asset insurance and property management.
2018 was a record year for startups in the construction and infrastructure industries, with companies raising more than $3.1 billion globally – an increase of more than 300% from 2017.
Israeli construction tech’s strongest clusters are Inspection & As-Built Monitoring and Enhanced On-Site Execution – arguably the construction industry’s most challenging phases.
But the Israeli startups leading the way in construction innovation come from a variety of backgrounds, offering an eclectic range of expertise to the field. Here is just a handful:
- With over half of the world’s population concentrating along coastlines, coastal development which inflicts severe stress on natural ecosystems is inevitable. Founded in 2012 by experts in urban marine ecology, ECOncrete creates innovative solutions to reduce the ecological footprint of coastal infrastructure, such as ports and marinas, while adding to their structural integrity.
- ParaGroup was founded by designers in 2011, as a result of the increasing demand for smart solutions in the fields of Design and Construction. Since then, the company has worked to develop a system of AI-based services which can meet core needs of the AEC & Infrastructure industries.
- Combining the capabilities of the human mind with the power of artificial intelligence, UNIQUAI Systems develops AI-based software that supports planning, decision-making, and risk analysis for the construction industry and beyond. Founded in 2016, the startup focuses on markets in which making faster and better decision is a critical need, including infrastructure and defense.
Construction technologies have the potential to transform the world – improving efficiency, safety and sustainability. With the world set to see plenty of construction in the coming decades, many of the most promising technologies enabling it will have been built in Israel.
For more information, please visit http://www.itrade.gov.il/ or contact your local Israel Economic Attaché.
Photo: Julien Belli (CC BY 2.0)