The South Summit 2023 in Madrid offered a platform for engaging conversations around the role of startups in the construction sector. The event was marked by a panel discussion featuring industry leaders, including Beawre's Co-Founder and CEO, Victor Muntés-Mulero. Moderated by Luis Amorim, Head of Open Innovation at Ferrovial Construction, the discussion focused on the challenges startups encounter when developing partnerships with General Contractors (GCs). This discussion was also boosted by the collaboration of Ferrovial and Beawre, together with several other organizations around Europe, in DYNABIC project, an EU-funded HEU program R&D project, where we are looking for mechanisms to effectively exploit R&D results.
Victor, alongside other panelists Angelos Nicolaou, CEO of Sektor.build, Tom Yeshurun, CEO & co-founder of Civ Robotics, and Sebastien Michaud, an investor at Foundamental, highlighted the need for startups to be integrated early in their partnerships with contractors. The discussion also underscored the role larger companies can play in facilitating startup growth.
Drawing from his experiences in the field, Victor shared Beawre's perspective on the complexities and opportunities within the construction industry. He noted that a key to success lies in understanding and serving the specific needs of the industry, a principle at the heart of Beawre's operations.
The construction sector, according to Victor, is a mature industry with limited margins where every penny counts, particularly when it comes to significant costs such as those involved in large construction projects. This environment poses challenges for startups but also opens doors for innovative solutions and approaches.
Victor also touched upon technological adoption within the industry. He pointed out that the return on investment of advanced technologies and the implementation of SaaS pricing models may not be immediately apparent to decision-makers who are not tech-savvy.
The panel discussion offered an opportunity to reflect on the relationship between corporations and startups. Victor shared that it's essential for corporations to view startups as potential strategic partners, rather than regular providers. This approach can help foster innovation and provide support for startups in their journey towards scalability.
The role of capital and the importance of choosing the right investors were other key points Victor addressed during the discussion. Using the example of Procore, a successful software company in the construction industry, he illustrated the potential for growth and the need for patience in the sector.
Beawre's participation at the South Summit 2023 offered valuable insights into the dynamics between startups and corporations in the construction industry. The event served as a platform to discuss and understand the future of construction and the potential role of startups in driving this future. As part of this ongoing conversation, Beawre remains dedicated to contributing to the growth and innovation of the construction industry.