The £10m ConstrucTech technology accelerator programme launched by Colmore Tang Construction and Virgin StartUp has attracted more than 200 applications from entrepreneurs and start-up businesses
Judges from both organisations have reviewed the applications for its ConstrucTech programme, and 16 entrepreneurs have been invited to pitch their ideas to a panel of industry experts at Virgin StartUp headquarters in London.
The successful pitches will have the chance to use the programme as a testbed and development platform to bring their products and ideas to life.
They will be able to trial their solution on one of Colmore Tang Construction’s 14 live development sites, as well as potentially gaining access to the £10m innovation fund, to facilitate broader adoption of the technology.
Among the shortlisted applicants – some of which are from as far as Australia and the US – are concepts involving Artificial Intelligence, 3D print robotic solutions and cloud-based software.
Colmore Tang Group chief executive Andy Robinson said: “We are delighted with the response we’ve received for ConstrucTech – it’s fantastic to see so many diverse businesses from different parts of the world sharing their innovative ideas.
“The next stage of the programme will enable us to delve deeper into applicants’ ideas and assess exactly how their innovation could be successfully introduced not only to our live construction sites but also to the wider industry.
“We are confident that together with Virgin StartUp and the successful candidates, we can positively disrupt the sector and pave the way for a technology-driven future in construction.”
Sir Tom Shebbeare, chairman of Virgin StartUp, added: “ConstrucTech has opened up exciting new opportunities for entrepreneurs and start-up businesses around the world; it’s given them the opportunity to showcase their technologies and benefit from the support of a leading contractor in the field and a £10m innovation fund.
“It was encouraging to see so many applications and we are already excited about what is to come on pitch day.
“This programme marks the beginning of an important, long-awaited change in the construction industry.”