Suffolk Capital’s technology arm names five finalists for program focused on helping tech startups across construction ecosystem solve industry challenges, expand networks and showcase solutions
BOSTON--(BUSINESS WIRE)--Suffolk Capital’s technology arm, Suffolk Technology, has announced the five finalists for its inaugural “Boost” mini-accelerator program. The “Boost” program is an intense four-week program that will bring together these promising technology startup founders with Suffolk leaders, industry experts and academics to solve the startups’ proposed industry challenges, expand their networks and showcase their solutions. “Boost” is in partnership with the Massachusetts Institute of Technology (MIT) Center for Real Estate, Bain Capital Ventures, and a new fund to be launched jointly by Romulus Capital and EquipmentShare. Suffolk Technology is the technology capital investment arm of innovative construction enterprise Suffolk.
The five startup finalists were invited to apply to the “Boost” program and submit their well-defined challenges for the built environment (i.e. piloting new technology solutions, developing go-to-market strategies, creating product roadmaps, etc.). Suffolk Technology reviewed more than 80 applications from startups with solutions across the product development stages, with an emphasis on startups in the design, supply chain, fintech and environmental spaces.
The “Boost” finalists include the following startup companies:
- Canvas is a construction robotics startup that empowers people to build in bold new ways.
- Diamond Age is automating new home construction for the production housing industry.
- Flexbase helps construction businesses get paid faster and stay cash flow positive with a payment automation platform, construction credit cards and a working capital program.
- PassiveLogic is the world’s first fully autonomous platform for buildings that is revolutionizing the way the built environment is designed, constructed, operated, maintained and managed.
- THRUX is a cloud-based MEP design environment which improves design productivity, quality and change management while instantly forecasting construction cost.
The “Boost” finalists will now have access to Suffolk’s network of industry leaders and experts who will collaborate with them to address their specific challenges. The “Boost” program will consist of 1) lectures and discussion sessions led by Suffolk leaders, MIT professors and industry influencers; 2) dedicated time with the Suffolk CoLab Construction Solution Director who will partner with the finalists and potentially test their solutions on Suffolk project sites; and 3) Showcase or Demo Day that will allow the finalist startups to share their solutions with industry influencers and investors.
“We were so impressed with all the startups that applied to our ‘Boost’ program and we are thrilled with the finalists we have chosen to provide innovative solutions for addressing some of the greatest challenges in our industry. We look forward to working closely with these entrepreneurial innovators and presenting their solutions to the world in the coming weeks,” said Jit Kee Chin, Chief Data and Innovation Officer for Suffolk.
November 6 — “Boost” program official kick-off date
December 8 — “Boost” culmination and Demo Day presentations
Suffolk is a national enterprise that invests, innovates, and builds. Suffolk is an end-to-end business that provides value throughout the entire project lifecycle by leveraging its core construction management services with vertical service lines that include real estate capital investment, design, self-perform construction services, technology start-up investment and innovation research/development. Suffolk is a national company with $4.0 billion in annual revenue, 2,500 employees and main offices in Boston (headquarters), New York, Miami, West Palm Beach, Tampa, Estero, Dallas, Los Angeles, San Francisco, and San Diego. Suffolk serves clients in every major industry sector, including healthcare, science and technology, education, gaming, transportation/aviation, and commercial. Suffolk is privately held and is led by founder, chairman and CEO John Fish. Suffolk is ranked #23 on the Engineering News Record list of “Top 400 Contractors.” For more information, visit www.suffolk.com and follow Suffolk on Facebook, Twitter, LinkedIn, YouTube, and Instagram.
About Suffolk Technology
Suffolk Technology is the technology capital investment arm of innovative construction enterprise Suffolk. Suffolk Technology is responsible for investing in technology startups that drive capital efficiency and productivity in the built environment. Suffolk Technology invests in solutions across the building lifecycle, including real estate investment and development, architecture engineering and construction, as well as property management. The team works with tech startup founders with ambitious visions who are innovating business models and technologies to achieve scalable impact. Suffolk Technology is stage agnostic (preference is early stage) and has supported companies ranging from pre-product to more than $100 million in revenue. For more information about Suffolk Technology strategy and investments, visit Suffolk-Tech.com
Canvas in currently in stealth mode
About Diamond Age
Diamond Age is currently in stealth mode
Flexbase helps construction businesses get paid faster. On average, it takes more than 100 days to get paid in the construction industry. Through automation and smart technology, Flexbase reduces the time it takes to get paid through customized discounts and negotiation terms, as well as intelligent reminder systems. They’re also revolutionizing construction payment solutions by providing one-click working capital and built-in debit cards to eliminate expense tracking and reconciliation.
PassiveLogic is the world’s first fully autonomous platform for buildings. PassiveLogic’s Autonomy Studio is the complete toolkit for building system design, construction management, automation, and building operations. This breakthrough platform democratizes the world of automation, enabling anyone to design and install their own scalable autonomous systems, from coffee shops to skyscrapers.
Cost is too often an afterthought in the design process. Value Engineering efforts to bring down costs are unproductive and delay project schedules as the construction team cycles through endless rounds of speculative re-designs, often with no gain. THRUX accelerates construction project schedules by linking cost to MEP design specifications and architectural constraints. With THRUX, MEP engineers have a modernized stack of tools to intelligently design building systems, ‘spell check’ them against applicable codes/regulations, and instantly forecast construction cost.
Dan Antonellis, 617-517-4232