News about Innovation in the Built Environment

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What is BuiltTech? Why now?

K.P. explains BuiltTech and strategies to take advantage of the opportunity.

K.P. Reddy is a serial entrepreneur with over 25 years of experience in disruptive innovation. Built environment technology, also Known as BuiltTech, is the innovation through technology that provides the framework for the physical world around us. BuiltTech is what shapes the future of planning, design, construction, and management of buildings, infrastructure, and cities.

 

In Service Companies, There Is No Line Item for R&D

Originally posted on The Combine.

K.P. Reddy: "No line item for R&D in service companies"

Recently, Matt GrayBuiltWorlds founder and co-chairman of Graycor, a 90-year-old, Chicago-area general contractor, interviewed The Combine Co-founder and Partner, K.P. Reddy. We captured the interview on video, which is important, because this interview is one of the very few times you’ll ever see K.P. Reddy in a collared shirt and a coat. Here’s the video.

Notable Quotes from K.P.

The capital requirements to start an architectural firm are nothing. All you need is a customer.

The Combine works with large companies to spin out new tech companies.  Especially in service companies, they are so close to the customer’s problem. They understand the problem. They’ve studied the problem. Then they start trying to solve that problem, by launching a new service unit to focus on that problem. Or, these days, everyone wants to build a new piece of hardware or software.

There is no line item for R&D

But in these companies it’s about billable hours, project revenue, project margin. There is no line item for R&D. So we’re able to go into these companies and mine these really cool innovative ideas and spin them out as tech startups.

Higher ROI outside of their core business

The large companies also retain ownership in the startup. Startup valuations are very different than services firm valuations, and particularly engineering and architectural firms. So we’re able to in many ways generate higher ROI outside of their core business than within their core business.

BuiltTech venture firm just raised $60 million

A venture firm focused on real estate, Navitas Capital, just raised $60 million

Real estate heavyweights clearly don’t want to be left in the dust by tech startups that see opportunities to do things more efficiently, more transparently and more affordably than has previously been possible in the long clubby, expensive and opaque world of real estate. [Read More]

 

A Sydney construction tech startup just raised $3 million to fund its US expansion

Sydney construction software startup Assignar has secured $3 million of capital in a series A round.

Venture capital firm Our Innovation Fund (OIF), also based in Sydney, led the round that will help Assignar boost local sales then expand its presence in the US market, where it already has a small client list

The Post A Sydney construction tech startup just raised $3 million to fund its US expansion appeared first on Business Insider Australia.

Source: www.businessinsider.com.au

 

‘Smart Money’: VC Firm Our Innovation Fund Backs Two Tech Sartups To The Tune Of $5M

“Due to the growth of cloud and mobile technology as options in the field, the construction sector is ripe for disruption,” McCreanor told Dynamic …

The post ‘SMART MONEY’: VC FIRM OUR INNOVATION FUND BACKS TWO TECH STARTUPS TO THE TUNE OF $5M appeared first on Dynamic Business .

Source: www.dynamicbusiness.com.au

 

 

Caterpillar buys into Australian bricklaying robot

Caterpillar Inc, the world’s largest maker of construction machinery, has announced that it will invest in Hadrian, a brick-laying robot developed back in 2015 by an Australian aeronautic engineer.

The post Caterpillar buys into Australian bricklaying robot appeared first on GCR.com.

Source: globalconstructionreview.com