Suffolk Technologies hosted its fourth annual BOOST Demo Day at Suffolk’s National Headquarters in Boston on Thursday, Nov. 9, 2023. Suffolk Technologies selected this year’s seven finalists from a pool of more than 200 startup companies, the largest applicant pool yet for the six-week accelerator program that also included 22 Operating Partners and more than 100 working sessions with Suffolk project teams and external partners.
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John Fish, Chairman and CEO of Suffolk, and Jeff DeBoer, Founding President and CEO of The Real Estate Roundtable, discussed the state of the real estate market at a Fireside Chat moderated by Puneet Mahajan, EVP and CFO at Suffolk. (PHOTO CREDIT: D Phillips Studios)
“Demo Day” is an opportunity for BOOST finalists to showcase their companies, products and progress throughout the program to investors, potential customers, other founders, and leaders across the built environment. With the completion of BOOST 4, the program has now graduated 25 companies that have gone on to raise over $375 million in venture funding and continue to drive long-lasting, positive change in the AECO industry.
This year’s event began with an inspiring and thought-provoking fireside chat with John Fish, Chairman and CEO of Suffolk, and Jeff DeBoer, Founding President and CEO of The Real Estate Roundtable, moderated by Puneet Mahajan, EVP and CFO at Suffolk. Fish and DeBoer discussed the state of the real estate and construction markets, narrowing in on how recent and potential policy changes will pave the way for innovation in the AECO industry, and the dire need to embrace new ways of designing, engineering, building and operating real estate assets.
“The rising cost of construction and labor, lack of efficiencies in the construction process, and financial challenges faced by developers such as high interest rates, devaluation of real estate, and banks unwilling to loan money have created a perfect storm for the real estate and construction industry. Something has to give,” said Mr. Fish. “I often say no two points in time are equal. Our industry is in need of disruption now more than ever. We must invest heavily in innovative tech startups and sophisticated technologies that are pushing the boundaries of what is possible and helping contractors work more productively, safer and faster on projects. Our BOOST program allows some of the most innovative startups in the world to showcase their tools and talent while inspiring us all to transform our industry and redefine the built world.”
The BOOST program is an intensive six-week program designed to ignite growth and equip pioneering built-world startups with the right tools to transform the industry. The “Demo Day” event is designed to inspire startup founders, increase brand exposure, facilitate industry connections, and unlock new opportunities for startups as they move through the accelerator.
“At the onset of each BOOST cohort, we advise each team that the benefits and impact of the program will be a direct reflection of their effort and participation,” said Parker Mundt, Vice President of Platform for Suffolk Technologies. “We saw tremendous growth among the startups that participated this year, and they helped us grow as well, challenging us to expand our network in ways that will support our Suffolk Technologies portfolio companies for years to come.”
BOOST participants attended curated workshops led by industry experts on topics including go-to-market strategy, integrations, risk management, hiring, legal and fundraising. This year’s program focused on leveraging artificial intelligence to increase productivity across the project lifecycle, supply chain visibility and efficiency, sustainability compliance and reporting, field-focused data and digitization, design optimization, and improving workforce productivity.
This year’s cohort of innovators included the following seven companies:
Agorus: a streamlined custom home building process powered by software and robotics. With their patented robotic ONE Line, powered by their intelligent Construction OS, AGORUS is making offsite construction easy and scalable for developers.
Emidat: a climate intelligence platform for construction that provides AI-powered generation and distribution of environmental product declarations (EPDs) for building material manufacturers.
Exodigo: a non-intrusive subsurface imaging platform providing a digital geolocated 3D map of buried assets. Their subsurface mapping solutions combine advanced sensors, 3D imaging, and AI technologies to provide a clear picture of the underground.
Hammr: an all-in-one platform for construction companies to manage their back office. Subcontractors and self-performers rely on Hammr for time tracking, payroll, scheduling, benefits, and compliance in one centralized platform.
KayaAI: an AI-powered data and intelligence platform that provides unprecedented visibility, insight and coordination before, during and after a construction project.
Sitelink: an AR-powered collaboration platform for commercial construction teams. Their platform leverages cutting-edge technologies including augmented reality (AR), AI, and computer vision, to bridge the gap between the digital and physical worlds.
Trunk Tools: addresses the skilled labor shortage in construction by creating easy to use tools for the deskless workforce, including AI-driven superintendent-bots that solve on-site problems, create task-based incentives, pay out per diem, and make available earned wage access.
KayaAI was chosen as the “People’s Choice Award” through a live vote following the pitches. Awards were also handed out to the Suffolk Team Member of the year, Greg Gaudio, and Operating Partner of the year, Axiom Builders.
“Our BOOST experience has been incredible. The level of engagement from Suffolk Technologies and its Operating Partners gifted us invaluable guidance, knowledge and data that will be instrumental to building our business in the built environment. From roundtable discussions and pilots to long-term partnerships, this program and industry access have been game changers. If you are a construction tech founder, check out BOOST and find a way to work with this team,” shared KayaAI Co-founders Ojonimi Bako and Nicholas Selz.
BOOST 4 is presented in partnership with 22 industry partners including Group Amana, Autodesk, ARCO Murray, Axiom Builders, Century Drywall, Feldman Geospatial, Gunderson Dettmer, Holcim, JLL Spark, Liberty, Liberty Mutual, LMRE, McCusker-Gill, The Martin Trust Center for MIT Entrepreneurship, Moog Construction, Procore, Sellen Construction, Suffolk, Suffolk Design, Swire Properties, Thornton Tomasetti and Zwick Construction.
About Suffolk Technologies
Suffolk Technologies is the venture capital investment arm of innovative construction enterprise Suffolk. Suffolk Technologies invests in early and growth-stage startups transforming the built world across real estate and development, architecture, engineering and construction, property management, and smart cities. Leveraging Suffolk’s expertise and partner networks, Suffolk Technologies partners with visionary founders to accelerate industry-wide adoption of breakthrough innovations ranging from pre-product to scaled go-to-market. Suffolk Technologies is ranked by AGC as the “#1 Most Active Construction Tech Investor” from 2018-2022. For more information about Suffolk Technologies’ strategy and investments, visit SuffolkTech.com.
About Suffolk
Suffolk is a national enterprise that builds, innovates and invests. 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 (Suffolk Technologies) and innovation research/development.
Suffolk – America’s Contractor – is a national company with more than $5.5 billion in annual revenue, 2,600 employees, and main offices in Boston (headquarters), New York City, Miami, West Palm Beach, Tampa, Estero, Dallas, Los Angeles, San Francisco, and San Diego. Suffolk manages some of the most complex, sophisticated projects in the country, serving clients in every major industry sector, including healthcare, life sciences, education, gaming, transportation/aviation, government, mission critical and commercial. Suffolk is privately held and is led by founder, chairman and CEO John Fish. Suffolk is ranked #8 on ENR’s list of “Top CM-at-Risk Contractors.” For more information, visit Suffolk.com and follow Suffolk on Facebook, Twitter, LinkedIn, YouTube, and Instagram.
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