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CONSTRUCTION TECH
OVERVIEW
Copyight Corigin Ventures
Over
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Employs of the
world’s working
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Source: McKinsey Imagining construction’s digital future, 06/2016; U.S. Census Construction Industry, 2019
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Responsible for consistent project management and task ownership
Responsible for carrying out specific tasks
Copyight Corigin Ventures
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Copyight Corigin Ventures
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Copyight Corigin Ventures
Materials & equipment
marketplaces
Construction Marketplaces
Product
marketplaces
Professional services
marketplaces
Agenda
1 2
Building materials
Heavy equipment
Business-to-consumer
Business-to-business
Construction laborers
LEAD GEN
CLASSFIEDS
AIDED MARKETPLACE
END-TO-END
Deliverproduct/
service
Facilitate
payment
Search
listings
StepsScopeExamples
1 2 3 4 5 6
Match and
verify parties
Estimate
cost
Define
scope
What do online marketplaces do?
MORE SPECIALIZED/HIGH RESPONSIBILITYLOW RESPONSIBILITY / LESS SPECIALIZED
Online
Marketplace
Logistics
platform
Supply & Demand
The structure of online marketplaces
Collect inventory from local vendors and sign up customers,
ideally in as automated a way as possible.
AGGREGATE SUPPLY AND DEMAND
Companies differentiate themselves by being
especially good at adding value along one or more
areas within the value chain.
ADD ADDITIONAL VALUE
Handling bulk orders in an efficient way requires
sophisticated logistics technology and optimized supply chain
routes. Companies that succeed start by building a logistics
platform first.
BUILD A LOGISTICS PLATFORM
How to build a marketplace
Material
Marketplaces
eCommerce is the future for material
manufacturers and distributors. Total
online sales for home improvement
products increased 34% to almost $20B
in 2016. The legacy retailers are quite
far along in eCommerce solutions, while
the wholesalers lag behind.
Marketplaces aggregate the inventory of
wholesale suppliers and offer better cost
than auctions or retailers. They tend to
start with one particular material type
and expand out.
Materials
Image: BuildDi-
“...Construction projects are all ‘one-
offs’ like made-to-order supply chains...
Even if you are dealing with the exact
same contractors and building the same
buildings or roads, the sites will be
different and the weather will be different,
two factors which can completely change
how you go about the project.”
Steve Cox,
Command Alkom:
https://talkinglogistics.com/2019/01/30/transforming-construction-materials-supply-chain/
Traditional
Supply Chain
Materials
SUPPLY CHAIN
Mom&Pop Mom&Pop
Retailers Retailers
Anderson (windows & doors)
Cemex (cement & concrete)
Weyerhauser (wood)
Material Manufacturers
The Home Depot
Lowes
Big Box Retailers
ABC Supply
Builders FirstSource
Beacon Roofing
Distributors
Small Contractors
DIY Home Remodelers
Large Contractors
Developers
Owners
Consumers Professionals
Online retailers/
distributors
Legacy retailers/
distributors
Vertical
marketplaces
Last mile
purchasing
What new types of models are there?
Example CompaniesExample Companies Example Companies Example Companies
Companies hold inventory and
their own distribution network.
Companies hold inventory and
their own distribution network.
Companies are over 1,000
people
Companies are over 300,000
people
Companies hold no inventory
and rely on third party
distribution
Companies charge a markup
to purchase and deliver small
materials locally.
They hire permanent buyers in
big bog stores and deliverymen.
Charge by the delivery time.Big-box retailers dominate.
Home Depot and Lowe’s are
the largest, with market shares
of 27.2% and 18.4%.
Home Depot has a very
evolved eCommerce platform,
and approaching 10% of their
sales come from online.
Lowes is currently building
a more sophisticate online
marketplace.
Companies focus on specific
product types. zenbuild for
brick&stone, Buildzit for excess
inventory, BuyChain for wood,
SupplyHog for small home
improvement supplies.
ToolBx is now responsible for
a large portion of the Toronto
Home Depot sales.
BuildDirect is the largest
exclusively online home
improvement site. It filed for
bankruptcy protection in 2017
but replaced its executive team
with former amazon executives.
Some companies organize
shipping, others leave it to the
vendors. Very small items sent
via mail or Fedex. LTL orders
require additional packaging.
Companies gather valuable
data on customers and
purchasing habits, monetizing
that information for the
retailers.
Materials
Marketplace leaders
Material Specialty Value Add
Logistics
infrastructure
Materials
BuildDirect primarily specializes
in flooring materials, hardwoods,
tiles, and laminates.
Zenbuild specializes in bricks
and decorative stone. They have
new, reclaimed, and discontinued
products.
SupplyHog specialized in
hardware and small building
supplies.
BuildZit specializes in discounted
overstocked, misordered, or
discontinued materials of any
variety.
BuyChain specializes in wholesale
lumber.
Green Building Supply has an
extensive learning center with a
library of webinars and tutorials
into products and techniques.
Green Building Supply stocks
around 60% and handles shipping
primarily through fedex. The other
40% comes from distributors.
BuildDirect is built on a highly
sophistical logistics architecture
that optimizes supply chain
transportation.
The company allows other
distributors access to its logistics
architecture and rents space in
warehouses it uses.
Zenbuild has Machine Vision
technology that can identify
existing brick and match it to
materials in their database.
Zenbuild has proprietary
technology that calculates
loads and shipping costs, while
optimizing packaging.
NA NA
NA NA
BuyChain has logistic automation
software that automatically revises
prices based on delivery. It also
has automated notifications.
BuyChain offers analytical market
insights, RFQ management, and
customer credit rating.
Green Building Supply specializes
in sustainable products, mostly
wood floors, paints, cleaners, and
home goods.
Materials
What challenges
are marketplaces
facing?
There are tens of thousands of material suppliers in the
US. Lowes itself stocks products from over 7,000 suppliers.
Aggregating those suppliers and keeping up with their
inventory is a monumental undertaking.
FRACTURED SUPPLY
In the retail space, Home Depot and Lowes command a
position of huge market share and offer many of the types of
products a marketplace could reasonably ship in the mail.
MARKETSHARE OF LARGE INCUMBANTS
Shipping large bulk orders is nothing like shipping through
the mail. As Jeff Booth, Founder of Builddirect will tell you,
building an online materials marketplace is like building
amazon and USPS at the same time.
INEFFICIENT HEAVY-WEIGHT SHIPPING
Developments in the supply chain
Predictive Analytics
Customer Insight
Predicting demand in real time will reduce warehousing space,
allowing more capacity and reducing waste.
Loading calculation and pre-loading
AI that can calculate weight, packaging, and shipping costs
instantaneously. By proactively loading trucks, Cemex has
been able to reduce its fleet size by 35 percent.
SaaS Transportation Management Systems
BuildDirect Gateway offers company’s distribution network and
TMS software for free to its distributors. Other companies offer
such software as a subscription.
Delivery advancements
New Freight Entrants
Within the past decade, Fedex has begun handling heavy orders
as Fedex Freight. Transfix is a freight shipping sharing app for
LTL and FTL delivery.
IoT
The enhancement of existing warehouse management
systerms with the implementation of IoT devices can improve
reliability in the supply chain.
Dedicated last-mile-logistics platforms
Companies like ToolBX provide 2-hour delivery from local
building supply retailers, while providing data to retailers.
Market Consolidation
M&A
The number of M&A transactions in the North American
building-products industry has increased by 10 percent per
year, from 118 in 2011 to 207 in 2017.
Home Depot Pro
In 2015, Home Depot acquired Interline Brands as The Home
Depot Pro, expanding its offerings in multi-family hospitality,
and industrial.
Autonomous Trucks
Increased Capacity
By running 24 hours a day, autonomous trucks could increase
the capacity of the US transportation network by 100 percent
for 25 percent of the cost (TC).
Trackablility
Using GPS and sensors tracking materials, individual shipments
will be traceable and delivery timing optimized.
Materials
Equipment
Marketplaces
Equipment marketplaces serve to connect
equipment owners with customers who wish
to buy or rent equipment.
The primary means of purchasing used
equipment is through physical and online
auctions. The primary way to rent
equipment is from physical rental houses.
There is a lot of opportunity for aggregating
the existing inventory into a marketplace.
There are many value-add opportunities by
digitizing the enormous fleet.
Image: heavy equipment
Equipment
Original equipment
manufacturers (OEM)
Aftermarket
parts
OEMS
Rental houses
Auction houses
United Rentals
Sunbelt Rentals
Herc
Caterpillar
Komatsu
Hitachi
Ritchie Bros
Lyon Auctions
Local
Dealerships
Large
contractors
50/50
Rental
houses
Small
contractors
Auction
houses
How does the equipment market work now?
equipment, parts, servicing
equipment, parts,
servicing
ONLINE AUCTION
HOUSES
CLASSIFIEDS
ONLINE RENTAL
HOUSES
RENTAL MARKETPLACES/
P2P MARKETPLACES
Example Companies Example Companies Example Companies Example Companies
Companies facilitate bidding
between buyers and sellers
Companies allow purchasers to
find used equipment
Ritchie Bros, the largest
auction house, has a growing
eCommerce business. In
addition, they have purchased
Iron Planet in 2016
The auction takes a fee, and
often the seller goes home
with less than 50% of the asset
value after shipping and fees
Typically, negotiation and
sales are performed offline
Companies hold inventory
of equipment and compete
against legacy rental
companies like United Rentals.
Companies aggregate available
assets and provide a storefront
for customers to see multiple
prices
They provide a digital presence
for rental houses, which are
slow to adopt technology
Marketplaces take a share of
the equipment cost far below
what physical auction houses
charge. They also charge a
subscription fee for listing. They have good support
from OEM as it allows their
dealerships to compete with
the large rental houses
Types of platforms
Equipment
Equipment
Market leaders
Type of Platform
Value Add 1:
Asset management
Value Add 2:
Data insights
IronPlanet is an online auction
house. Customers can choose to
buy now, make an offer, or bid.
With rbAsset Solutions, IronPlanet
offers an inventory management
dashboard that also can list
equipment for sale & arrange
inspection.
rbAsset Solutions visualizes
market data and trends, demand
map, and offers an AI-driven
pricing suggestions,
Machinio is a classifieds platform
and search engine. It charges an
annual subscription fee to dealers.
MachineryHost is comprehensive
software to design/host websites,
manage inventory, create email
campaigns and store contacts.
EquipmentShare offers Track, an asset
management software, for managing
equipment and construction
management on the job site.
In the works
NA
In the works
NA
NA
NA
Online storefront for equipment
owners. Sellers create their own
branded storefront with unique url
and list all equipment.
EquipmentShare is an online
rental house. The company owns
a fleet while allowing owners to
lend inventory for steady income.
DOZR is a marketplace that shops
the market for customers, based
on their search criteria. There is
also a an equipment search that
shows competing prices.
TracksNTeeth is an online
marketplace for aftermarket non-
OEM equipment parts.
In the worksIn the works
Equipment
What are some of
the pain points?
Calculating the lifetime value of a piece of equipment is a complicated
and laborious task relying on long-term business forecasts. Rentals
frequently turn to sales and vice-versa.
KNOWING WHEN TO RENT, BUY, OR SELL
Getting a good deal on a piece of equipment frequently requires speaking
on the phone with 6-8 rental houses, with numerous call backs and a lot
of time lost in negotiations.
GETTING THE BEST DEAL
Heavy equipment shipping is an opaque and old-fashioned business,
making it hard for contractors to predict and assure on-time deliveries.
Equipment can often not be delivered onto sites not prepared for them.
EQUIPMENT DELIVERY
After deducting the cost of shipping equipment to the auction, the fees
associated with selling and paying the auction, sellers can hope to fetch
30% the value of the equipment.
LIMITED RETURNS FROM AUCTIONS
Equipment requires professional inspection to verify that it is in working
condition and can withstand the required work without servicing.
Guarenteeing quality before puchasing is a major hurdle for renters.
VERIFYING EQUIPMENT QUALITY AND SERVICING
Equipment Marketplaces
Used Equipment Markets
Largest auction: $203M (2012)
Total sales since 2003: $2.8B
Lots sold: 157,349
Ritchie Bros Auction (Orlando)
https://www.rbauction.com/cms_assets/images/
advertisements/Banners/Orlando2017/Orl_SalesTool.pdf
Computer Vision
Copyight Corigin Ventures
WHAT IS COMPUTER
VISION?
Computer vision is a field of artificial intelligence that
enables machines to understand and interpret the visual
world. Leveraging images collected from hardware along
with deep learning models, machines are able to classify
and make decisions. What you see here on the right is an
example of computer vision performing object/facial
identification on the construction site.
Copyight Corigin Ventures
$25 B
market
IT IS AN EXCITING TIME FOR COMPUTER VISION
The market, increased amount of use cases, and adoption for computer vision technology is driving a spur of investment in
this space.
According to Harvard Business
Review, the computer vision market is
growing at a rate of nearly 50% every
year and expected to reach $25B by
2023.
In the same survey of more than 250
business leaders about how they plan
to apply AI and computer vision tech
to their companies, 80% said they plan
on adopting in the next 2 years.
A McKinsey report in 2018 noted that
out of a survey of 1,500 companies,
over 20% are currently leveraging
computer vision in their daily business
processes.
4/5
companies
plan on
adopting
20%
currently use in
business
processes
Copyight Corigin Ventures
COMPUTER VISION IS ON THE
RISE IN CONSTRUCTION
Computer vision technology has been coming of age in the past
few years, maturing with machine learning and deep learning
techniques. Although its applications to construction is at an
impactful state, we believe that computer vision will become more
commonplace throughout the construction process and apply to
more use cases. It will also begin to replace more asset and
hardware heavy methods to track objects or measure operations.
Copyight Corigin Ventures
Scanners and high quality cameras have gotten dramatically cheaper (and
better) over recent years, making computer vision more easily accessible.
Deep Learning has emerged and advanced greatly in recent years to be
able to properly process complex algorithms and support computer vision
use cases.
Larger data sets are being collected and meticulously combed by the open
source community to be able to train latest models, making computer vision
more accurate and advanced.
Spur of investment into this space
in 2015 and 2016 encouraged a ton
of startups and innovators to help
make computer vision a reality, now
used by all consumers in
applications such as their
smartphone.
CAUSES FOR THE
INCREASE IN
TECHNOLOGY
MATURITY AND
ADOPTION
The recent growth of computer vision
startups and technology is due to several
factors. The technology hit a spike in
increased innovation in 2015 and has
continued ever since.
Copyight Corigin Ventures
HOW DOES COMPUTER VISION WORK?
Understanding the steps in how computer vision works is key to understanding where technology can advance and how
startups stand out.
Hardware scans
object/area and
collects images
Images collected is
turned into data
Insights are created
out of the data set
Analytics is presented
back to the user
Data Collection Data Processing Decision Making/Analysis
Data is enriched
1 2 3
• Images head to the
point cloud,
translating the
images into
language that the
computer can
understand
• Infrastructure built
will dictate how
data is organized
Where the secret sauce is
Data is cleaned
• Computer or person
needs to make sure
exploring data to
make sure outlier
patterns are not
affecting results
• Quality of images is
evaluated and
refined
• Consistent and
quality images is
essential
• Ability to access
larger amounts of
data sets will
provide better
machine learning
models
• External data sets
can be leveraged to
enhance the current
data set
• Techniques such as
edge processing is
improving
turnaround times for
data processing
Copyight Corigin Ventures
6 TECHNIQUES THAT ARE BEING USED IN CONSTRUCTION
There are dozens of different techniques used by computer vision to apply directly to use cases. The following are 6 mainly
used in the market today – ranging from low (left) to high (right) on complexity.
3D Reconstruction
Image Classification
Object/Facial Recognition
Robotic Navigation
Augmented Reality
Activity Recognition/Tracking
FLUFFY THE CAT
CAT
Copyight Corigin Ventures
Service Model
Cost Model
Customers
WHAT DOES THE BUSINESS MODEL LOOK LIKE IN CONSTRUCTION?
For startups in the construction industry, service and cost models vary greatly but target customers remain consistent.
Developers General Contractors Sub – Contractors (rare)
SaaS Hardware (Rental) Hardware (Purchase)
One Time Fee Recurring Fees
Per Project (Installation/Setup/SaaS)
Per Service (Insights Report, Training)
Per Month
Per User Per Month
Copyight Corigin Ventures
WHAT ARE THE BIGGEST PROBLEMS THAT COMPUTER VISION IS
TACKLING?
Companies are solving problems across the construction value chain, often focusing on solving multiple problems faced by
customers today due to manual processes or lack of existing data.
PLANNING PHASE EXECUTION CLOSING
1
Design/Planning: How do we better
our design and set my project up for
success?
• Excavation
2
Project Management: How are we
doing against design?
• Quality Assurance
• Scheduling
3
Operations Management: How do we
accelerate execution or improve on-
site operations?
• Safety
• Workflow operations
• Dispute documentation
• Productivity
4
Insights: How do we close the loop to
the owners or developers and assure
future commitments?
• Legal
• Reporting
Copyight Corigin Ventures
Traditional means of site surveys and planning take months to
execute and are prone to error. Innovation in this field is tackling
the issue of more efficient design and decision making.
DESIGN/PLANNING
Techniques:
• 3D Reconstruction
• Augmented Reality
• Object/Facial Recognition
• Activity Tracking
• Robotic Navigation
Devices:
• 3D scanner
• Drones
Source: PropellerCopyight Corigin Ventures
Computer vision provides a new way to measure progress of
build against design. Insights and analytics allow developers,
GCs, and architects visibility into quality and control of build.
PROJECT MANAGEMENT
Techniques:
• 3D Reconstruction
• Image Classification
• Object/Facial Recognition
• Robotic Navigation
• Activity Tracking
Devices:
• Phones
• 3D scanner
• Drones
• Robots
Source: Indus.AICopyight Corigin Ventures
Computer vision provides an automated way to document and
accelerate the execution process, manage workflow operations,
and control safety.
EXECUTION/OPERATIONS
Techniques:
• 3D Reconstruction
• Image Classification
• Object/Facial Recognition
• Augmented Reality
• Robotic Navigation
• Activity Tracking
Devices:
• Phones
• 3D Scanner
• Glasses
• Robots
Source: DoxelCopyight Corigin Ventures
As projects close, computer vision helps to close the loop by
communicating to owners/ developers through insights and
leveraging data to secure future commitments.
INSIGHTS
Techniques:
• 3D Reconstruction
• Image Classification
• Object/Facial Recognition
• Activity Tracking
Devices:
• Phones
• 3D Scanner
• Glasses
• Robots
Source: HolobuilderCopyight Corigin Ventures
DIFFERENTIATORS FOR COMPUTER VISION COMPANIES
What makes one company stand out verses another is based on one or a combination of the following components. Below are
some good questions to ask to understand if a company has each differentiator.
Data Structure
 Data is structured for
ML and good at handling
noise
 Ability to abstract data
for privacy protection
 Structure of data serves
and supports the end
application need of
consumer
Business Needs
 Company understands
construction business
needs and regulations
around construction
industry
 Easy to use for all
levels of users
 Covering first, a cost
impacting use case and
moving onto multiple
Data Quantity
 First mover advantage
is essential in
generating a good
amount of data
 Applicability of
technology to multiple
use cases to be able to
collect more data
Hardware Choice
 Appropriate and flexible
hardware choice with
regulations for
construction site
 Maturity of hardware is
there to be able to
support unpredictability
and movement on
construction site
Data Quality
 consistent and accurate
data means easier
processing and better
insights generated
 This also means better
technical abilities and
less need to refine dirty
or poor quality images
 Is the team familiar with
the structure and what
differentiates it/fulfills
business needs
 When are they getting
false positives/false
negatives?
 What types of images
cause problems for them?
 How well does the team
know the data and how it
relates to end user
needs?
 How is this bettering the
current process?
 If quantity is not large,
what is the plan to grow
the data set?
 Are there other data
sources out there? Who
else might be doing this?
 Is the hardware selection
fitting for the customer?
For regulation purposes?
For maturity of
hardware?
 Is the hardware actually a
value add? Or will it
become a liability?
 How good is the quality of
images to begin with?
 How many images is
taken on site to generate
desired outcome?
 Can the company deliver
consistently on what they
are proposing to do? Esp.
as they scale?
Questionstoask
Copyight Corigin Ventures
WHAT’S NEXT IN
COMPUTER VISION?
Computer vision’s application in
construction will grow as it replaces
more asset heavier ways to accelerate
tasks, track insights, and manage
operations. More data and advanced
algorithms will allow for advancement
of the precision in the technology. We
are excited for these additional trends
for computer vision….
Modular algorithms will allow computer vision to start with
dissecting very accurately modular components and applying
them to complex image/object recognition.
1
Edge processing will improve user value proposition by
reducing turnaround analytics time (2-3 times faster) &
improving rendering.
2
Combining computer vision with other technologies such as
language processing and exchanging learning will allow for
new applications and use cases in construction.
3
Applications of robotics in computer vision will increase as
visual inputs will be coordinated for integration and
automation. Currently, this has not been mastered on the
construction site.
4
Copyight Corigin Ventures
Professional services &
labor marketplaces
Construction
Marketplaces
Labor & Professional
Services
Marketplaces Overview
B2B
Marketplaces that connect
owners, contractors, and
subcontractors.
B2C
Marketplaces that connect
home-owners and creatives
to contractors
LABOR
Marketplaces that connect
contractors to construction
laborers
image: raygun media
B2C
Contractors to
Home-owners
We have identified over 20 B2C
marketplaces, not including handymen
services and persistent home repair.
Companies often have multiple sources
of revenue and utilize different models
thoughout their lifetime.
B2C Marketplaces
image: 123RF
Millenial’s driving
renovations 72%more than
Silent Generation
42%more than
Baby Boomers
18%more than
Gen Xers
“The Renovation
Generation”
Rising home costs and lack of affordable housing
has led the generation to buy fixer-uppers. Millenial
homeowners have completed the most home remodeling
projects in 2018 (42% more than Baby Boomers).
They are twice as likely as baby boomers to complete
bathroom and kitchen remodeling projects. They are,
however, the lowest spenders yearly, with an average of
$5,493.
Homeadvisor truecost report: https://www.homeadvisor.com/r/wp-content/
uploads/2018/06/True_Cost_Report_2018.pdf
B2C Marketplaces
New companies trend towards more service
Notes:
Companies come in all revenue
models, from freemium to lead
generation to subscription
End-to-End marketplaces
offer only one bid, whether
or not the contractor is under
management
The late 90s and early
2000s saw the creation of
homeadvsor clones globally.
My builder for UK and
myhammer for Germany
Homeadvisor has acquired
many similar local companies
and supporting companies
between 2001 and 2017
*
Porch has handymen on staff,
but has subcontractors within
the network
B2C Marketplaces
AIDED
MARKETPLACE
END-TO-END
SERVICELEADGEN
1995
2000
2005
2010
2015
2020
COMPANY FOUNDING DATE
*
*
*
*
B2C Marketplaces
LEAD GEN AIDED MARKETPLACE END-TO-END SERVICE
Featured List Model, Listing Fee Model,
Lead Model, Freemium Model
Example CompaniesExample CompaniesExample Companies
Level of service varies from a curated
list of contractors (Sweeten) to full
scope-of-work documentation and bid
coordination (Hire Haven).
Transparency of bids used to increase
competition and lower costs to
customer
Payments and contract negotiations
handled off platform.
Free to customer. Most are
Commission Model. Brick and wonder
has a subscription model for its
community and heavy use of referals.
Companies recommend one contractor
within their network rather than collate
bid
Companies exist in hyper-vertical
markets and compete with traditional
contractors.
Companies take partial responsibility
over the construction project.
Block and Paintzen supply cost and
handle payments, roofr does not
Commission Model, Subscription
Model, Service Model
VALUE ADD +-
Marketplaces offer different levels of service
Basic Matchmaking services are often
considered spam, with contractors
reaching out personally at all hours of
the day
Lead fee model unpopular with
contractors, as HomeAdvsisor charges
$50+ per lead. Leads are sold to
multiple contractors, so competition is
first-come-first-served
BLOCK RENOVATION
Block plans to be an end-to-end marketplace
and service for renovating urban
bathrooms, based on simple templates and
automated management processes.
B2B
Contractors and
subcontractors
Subcontractors rely on many sources for
work, often from offline avenues: referals and
networking. It is often said the best way to get
work is to network with architects, who are the
first to know of new projects.
Construction data companies like Bidclerk
provide project information daily and serve
as lead gen for subs. General contractors
rely heavily on referals for subcontractors;
Qualifying subs (references, finances) is a major
pain point not currently solved by lead gen
networks.
B2B Marketplaces
image: iStock
How do subcontractors
find projects now?
3 Manual reaching
out
4 Project data
companies
1 Referrals
2 Previous working
relationships
5 Job boards and
B2C marketplaces
B2B Marketplaces
A lot of hustle is required to find work
as a subcontractor. Large GCs prefer
to work with companies they have
experience with and are skeptical of
new entrants.
Much of the process for finding work
happens offline. There are some large
and old platforms that offer data that
subcontractors can use to reach out to
GCs and owners directly.
STEP 1:
FIND PROJECTS
& DOCUMENTS
STEP 2:
TAKE-OFF
& ESTIMATING
STEP 3:
BID MANAGEMENT
STEP 4:
SIGN
CONTRACT
FINDING WORK MOBILIZATION
STEP 5:
MOBILIZATION &
PAYMENT
Pre-construction value chain
Databases of projects,
companies, personnel
Microsoft
Word
Some small companies
outsource take-offs
abroad
Software provides
platforms to measure
areas, collate quantities,
and integrate costs
Different specialties use
specialized trade take-
off software
Bidding procedures can
vary widely from one
project to another
Manage sub-contractor
database, organized by
specialty
Software tracks status
of multiple contracts,
RFIs, submittals,
communications, and
billings
GCs continue to share
and update project
documents, collaborate
on estimating
Every contract is unique,
taking into account time
frame, prices, payment
methods, pentalties, etc
First payment 30 days
after mobilization
Payments handled in
many ways, from online
banking to checks to
cash
Payments disbursed
over the lifetime of the
project
Local reporters
researching projects
Government agency
websites posting work
Reporting agencies are
subscription models
based on search area
Example Companies Example Companies Example Companies Example Companies Example Companies
B2B Marketplaces
B2B Marketplaces
Takeoff software should integrate
seamlessly with BIM, and quantities
should no longer be manually counted
One platform can provide the entire
pre-construction workflow, including
payments
Eliminate identical offerings
within large conglomerates like
ConstructConnect.
Areas for
improvement
nd
tforms The process of finding and securing
work for sub-contractors is
highly laborious, crosses multiple
platforms. Information is often
opaque and subs will pay a lot for
early advantages on new projects.
Request for bids are typically sent to
selected subs rather than the open
market.
Labor
Marketplaces
Subcontractors to
skilled tradesmen
There is great demand for platforms that
improve the ability to hire skilled labors. The
labor shortage is felt throughout construction,
from rising construction costs to contractors
taking on less work. The current platforms for
finding construction workers are not suited to
the population they are targeting. There is great
opportunity for companies that find ways to
access and hold onto this enormous labor force.
onstruction
by Hudson
r 50% of the
site are not
o work spans
g agencies
n the rising
g need for
the future.
Labor Marketplaces
image: stcmilwaukee
Total Addressable
Market
Marketplaces Overview
600,000+ CONSTRUCTION EMPLOYERS
$400B+ ANNUAL WAGES
6th LARGEST INDUSTRY BY JOBS
7,000,000+ CONSTRUCTION WORKERS
United States
Labor Market
Challenges
Marketplaces Overview
Lack of training and skills is prevalent in the industry. Over 80% of
contractors complain of not being able to find skilled labor. Lack of
workers is the number one complaint among contractors.
SKILLED LABOR SHORTAGE
Productivity in construction only grew 1% on average every year, in
contrast to 2.8% for the world total economy and 3.6% in manufacturing,
according to the McKinsey Global Institute.
PRODUCTIVITY
Another result of an unskilled labor force is bad safety practices.
According to a poll by eSub, 71% of contractors have reported an accident
in the last year.
SAFETY
Only 3% of the construction laborforce is a millenial. Many millenials say
they will not enter construction, regardless of compensation. Over 20% of
the labor force is approaching retirement.
GENERATIONAL DIVIDE
The recruitment landscape lacks a marketplace
MARKETPLACES STAFFING AGENCIESINDUSTRY AGNOSTIC
JOB BOARDS
CONSTRUCTION JOB
BOARDS
SIZEOFNETWORK
SmallMediumLarge
Notes
Tradesmen typically do not use
resumes to get work
Staffing agencies can charge
up to 30% to place workers.
They do not divulge the size of
their workforce
Staffing agencies do not divulge
the size of their network
*
Labor Marketplaces
VALUE ADD +-
3D PRINTING
Copyight Corigin Ventures
WHY 3D PRINTING FOR
CONSTRUCTION?
We believe that 3D printing is one of the most influential disruptor
in construction that the industry has seen in a while . The
traditional means of construction has seen little innovation since
the Roman times. In order to stay competitive, reduce waste, and
increase affordability of build, construction companies will need to
adopt 3D printing. This trend has already hit other markets
around the world such as China, UAE, and the Netherlands.
Copyight Corigin Ventures
Innovation
1980 19001985 20001995 20102005 20202015
Start of 3D Printing
Concept by Hideo
Kodama Article
Commercialization of 1st
3D Printer by 3D
Systems
3D systems created first
breakthrough SLA
machine
1st 3D printed
organ
Start of the open
source movement
World’s 1st 3D-
printed unmanned
aircraft was flown
Object built the first
machine to print with
multiple materials
First 3D printed functioning
car and GE adopts wide
application of 3D printed
aviation parts
1st 3D printed skin
MIT discovers way to
print glass
Development of Cement and
Contour Techniques, along with
shaping
Enrico Dini invented D -
shape technology to
enable 1st large 3D
printed structure
Winsun 3D printed 10
houses in 24 hours
Dubai’s workplace of the
future is the first 3D
printed entire building
Production of construction
grade 3D printers comes
to market
MX3D prints first 3D bridge in
Netherlands in 6 months
Icon is set to build the 1st 3D
printed neighborhood in Latin
America
Dubai introduced law that by
2025, every new building in
Dubai will be 25% 3D printed
Overall 3D Printing Construction 3D
Printing
Expiration of
patents for major
players in the
industry
HISTORICAL CONTEXT FOR THE RECENT ACCELERATION IN 3D
PRINTING
Innovation in 3D printing has increased exponentially since the industry move to open source; yet construction focused
innovation still falls behind the industry average.
Copyight Corigin Ventures
Build 3D CAD Model with
Design Software
Keep a close watch to dictate
and make sure materials are
disposing properly
Send specific instructions to
the printer about the amount,
location, and material used
Import .STL to slicer
software (.gcode) to
successfully layer the
materials to be properly
deposited into the 3D printer
Blueprint is extracted into a
file recognizable by the
slicing software
Use Existing CAD Model
From Marketplace
3D Scan Existing Item to
Import
DESIGN
TOOL PATHING
PRINTING
3D PRINTING PROCESS
To start, we want to provide an oversimplified view of how 3D printing works from an industry agnostic view.
Copyight Corigin Ventures
AREAS OF INNOVATION
To support the 3D printing process, companies innovate in major categories, usually starting out with one and expanding into
multiple areas. Below are also the 4 different types of products being 3D printed today.
Materials
 Polymers and composites
 Metals
 Ceramics
Communities/Services
 Research and design services
 Printing as a service
 Marketplaces
 Learning
Software
 Design & CAD
 Slicing & tool pathing
 Simulation
 Workflow software
 Security/IP
 Network environment
Hardware
 Polymer Machines
 Desktop machines
 Metals machines
 3D scanners
ServiceModel
Nano
 Particle modification for new
materials development
Small Parts
 Prototypes (Product
Development)
 Materials Composites (Testing)
 Construction parts (nails,
tools, etc.)
Large Parts
 Interior Components
 Architectural Facades
 Construction Molds
 Artificial reefs
 Follies
 Sculptures
Whole Products
 Concrete houses
 Bridges and civil
infrastructure
Products
Copyight Corigin Ventures
Total output of 3D printing in construction is
estimated at <$100 million currently. Analysts
forecasted that 3D printing in the construction
market is expected to grow
+ $40B USD by 2027
Since the spur of the open sourced
movement in 2005 and major patents
expiring in 2008, the number of existing
startups in 3D printing touching construction
increased at exponential rates.
Source: SmartTech Markets (left), Corigin Ventures (right)
6 7 8
10
17
21
27
33
40
44
55
64
2005 2007 2008 2009 2011 2012 2013 2014 2015 2016 2017 2018
GROWTH IN THE CONSTRUCTION 3D PRINTING LANDSCAPE
Startup innovation is increasing at exponential rates to disrupt this lagging sector and aim to gain share in an extremely large
potential market.
Construction 3D Printing Startups
Copyight Corigin Ventures
Shifting government sentiment
 United Arab Emirates mandate to 3D print 25 % of all new buildings by 2030
 UK has developed national strategy for 3D printing, promised 200M pounds
of investment in 3D printing and estimating that in construction alone the
technology could contribute more than $1 billion to annual GDP and create
15,000 jobs by 2025
 China, a leader in 3D printing in construction, has invested millions of
dollars – resulting in $3B of output in 2020
Innovation & Corporate Investments
 Programs such as Techstars + Stanley construction 3D printing program
and Nasa’s 3D printing competition has spurred a new level of innovation in
this space
 Companies such as Autodesk and Katerra have their own 3D printing
incubators and continuously invest in R&D
 Corporate investments topped $470M in 2017 in industrial 3D printing
technology – expanding innovation for large grade printers
Increase in housing demand
 According to Autodesk, a rising global population will lead to increased
demand for buildings. This demand, combined with the short supply of
qualified workers, has pushed the construction industry to consider new
building techniques
 The rising cost in construction (21% in the past 8 years in the U.S.) is
surpassing the average income for residents, decreasing the affordability of
living.
Legal changes through 2021 residential regulations
 Multiple startups are working with regulators on rewriting the codes to
allow for 3D printed structures for the approval meeting in 2021
 Tackling at the federal level first enables off-site production companies to
avoid dealing with specific state and local laws
Source: Autodesk, Crunchbase
WHY IS NOW THE TIME TO PAY ATTENTION
We believe that 3D printing for the construction industry is entering into a tipping point for accelerated growth due to the
following factors.
Copyight Corigin Ventures
Cost Related Others
Labor
Time
Materials
and Waste
It is estimated that the construction of an average
home generates 2.5 to 4 tons of waste. With additive
rather than subtractive processes, existing projects
have shown a 30-60% reduction in material waste.
Logistics
With machines doing much of the heavy lifting, labor
will be exponentially reduced, though not eliminated.
Existing projects use 50-80% less labor and up to 50%
cheaper total cost.
Machines can build around the clock and decrease
delivery time. In existing projects, 3D printing saves
50-70% in construction time.
On-site and off-site 3D printing decreases the amount
of steps in supply chain to get houses created and
reduces machines needed on-site.
Weight
Environmental
Impact
Risk
Design
Freedom
3D printed materials are lighter in weight and on average
sturdier than traditional materials used in construction.
Additionally, it decreases the weight needed to transport in
case of off-site construction.
Encouraging the circular economy, 3D printing involves an
integrated process of taking materials and applying them to
use without waste. Additionally, new innovations are using
old objects or recyclable materials to grind down and reuse
to build.
Quality
Machine operated precision decreases risk for human error
in construction as well as mitigate large delays in project
timeline due to logistics or labor causes.
3D printers avoid the manufacturing restrictions of
traditional construction methods and allow
architects/developers to have freedom in
expressions/form.
Advanced level of precision as the technology progresses
will allow for improvement in quality for construction.
CLEAR BENEFITS
In an industry that has particularly high barriers to adoption, startups will need to highlight the benefits of 3D printing for
construction.
Copyight Corigin Ventures
Laws and regulations still has ways to go on evolving as insurance, IP
protection, building codes, and safety needs resolved before the industry can
progress. Luckily, there are numerous start-ups tackling these issues.
Skill gap pervades as 3D printing requires specified skills and can be highly
technical to use, and the supply for these skills is scarce.
Ever evolving business case is one familiar to the challenges of adaptation
in emerging technologies. Often times, especially in a highly fragmented
industry, it is hard for businesses to take on the upfront hardware costs and
risks.
Precision for machines still need to evolve for larger commercial machines
and 3D printing companies need to prove their techniques can produce
buildings that stand the test of time, weather, sturdiness and other livability
standards.
Limited amount of materials are still being served in construction tech 3D
printing and most machines do not cater to the complex multi-material needs
of homebuilding.
CHALLENGES TO
OVERCOME
Despite the clear benefits, to reach its
full potential, 3D printing in construction
has challenges to overcome. Currently,
3D printing in construction is mainly
being used for prototyping and limited
scale production. In order to scale,
many factors will need to evolve to
further the adoption of innovations in
this space.
Copyight Corigin Ventures
Today Near Future Long Term
 Start-ups are working with regulators
are re-writing building
codes/regulations
 Current more established companies are
leveraging 3D printing for rapid
prototyping, design freedom and
perfecting the ability to print parts
 Cities like Dubai and Beijing are paving
the way for setting 3D laws/standards
 Whole printed buildings are still
rudimentary and leveraged mainly for
producing low-income housing
 Limited building codes will change,
enabling limited off-site production at
the national level regarding 3D printing
as the technology as it matures
 Adoption will grow for 3D printed
residential houses along with the start
of building more upscale residential
projects
 With the success of adopting to smaller
projects, technology will shift towards
more mobile, on-site production and
builds along with regulations
 Materials innovation will be a continued
differentiator for companies in the 3D
printing space. Further R&D will evolve
acceptances of new materials
 Residential structures will be fully 3D
printed, eventually shifting to printing
parts of commercial buildings for larger
projects
 Innovation will mature for increase
collaboration and ability to search for
common construction related 3D
materials
 Learning/education will be a standard
part of construction company operations
 3D printing specialized materials will
surpass use of traditional materials on
quality, weight, and economics
 Mature 3D printing technology for
construction will greatly improve the
quality of living and affordability for
houses and commercial space around the
world
WHERE THE FUTURE IS HEADING
Nevertheless, we believe that overcoming these challenges is just a matter of time as the industry evolves.
Copyight Corigin Ventures
First neighborhood in Latin America.
Icon
Copyight Corigin Ventures
First 3D printed bridge and mobile on-site printer along
with decorative interior pieces.
MX3D
Copyight Corigin Ventures
First 3D printed 2 story house, office building, and soon
Hyperloop railway, infrastructure in Middle East, and
neighborhoods in China
Winsun
Copyight Corigin Ventures
C O R I G I N V E N T U R E S . C O M
Thank You

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Corigin Construction Tech

  • 3. Over About Employs of the world’s working population Source: McKinsey Imagining construction’s digital future, 06/2016; U.S. Census Construction Industry, 2019 Over About Employs Copyight Corigin Ventures
  • 4. • • • • • • • • • • • • • • • • • • • Responsible for consistent project management and task ownership Responsible for carrying out specific tasks Copyight Corigin Ventures
  • 9. Sources: Pitchbook Copyight Corigin Ventures
  • 13. Product marketplaces Professional services marketplaces Agenda 1 2 Building materials Heavy equipment Business-to-consumer Business-to-business Construction laborers
  • 14. LEAD GEN CLASSFIEDS AIDED MARKETPLACE END-TO-END Deliverproduct/ service Facilitate payment Search listings StepsScopeExamples 1 2 3 4 5 6 Match and verify parties Estimate cost Define scope What do online marketplaces do? MORE SPECIALIZED/HIGH RESPONSIBILITYLOW RESPONSIBILITY / LESS SPECIALIZED
  • 15. Online Marketplace Logistics platform Supply & Demand The structure of online marketplaces Collect inventory from local vendors and sign up customers, ideally in as automated a way as possible. AGGREGATE SUPPLY AND DEMAND Companies differentiate themselves by being especially good at adding value along one or more areas within the value chain. ADD ADDITIONAL VALUE Handling bulk orders in an efficient way requires sophisticated logistics technology and optimized supply chain routes. Companies that succeed start by building a logistics platform first. BUILD A LOGISTICS PLATFORM How to build a marketplace
  • 16. Material Marketplaces eCommerce is the future for material manufacturers and distributors. Total online sales for home improvement products increased 34% to almost $20B in 2016. The legacy retailers are quite far along in eCommerce solutions, while the wholesalers lag behind. Marketplaces aggregate the inventory of wholesale suppliers and offer better cost than auctions or retailers. They tend to start with one particular material type and expand out. Materials Image: BuildDi-
  • 17. “...Construction projects are all ‘one- offs’ like made-to-order supply chains... Even if you are dealing with the exact same contractors and building the same buildings or roads, the sites will be different and the weather will be different, two factors which can completely change how you go about the project.” Steve Cox, Command Alkom: https://talkinglogistics.com/2019/01/30/transforming-construction-materials-supply-chain/ Traditional Supply Chain Materials SUPPLY CHAIN Mom&Pop Mom&Pop Retailers Retailers Anderson (windows & doors) Cemex (cement & concrete) Weyerhauser (wood) Material Manufacturers The Home Depot Lowes Big Box Retailers ABC Supply Builders FirstSource Beacon Roofing Distributors Small Contractors DIY Home Remodelers Large Contractors Developers Owners Consumers Professionals
  • 18. Online retailers/ distributors Legacy retailers/ distributors Vertical marketplaces Last mile purchasing What new types of models are there? Example CompaniesExample Companies Example Companies Example Companies Companies hold inventory and their own distribution network. Companies hold inventory and their own distribution network. Companies are over 1,000 people Companies are over 300,000 people Companies hold no inventory and rely on third party distribution Companies charge a markup to purchase and deliver small materials locally. They hire permanent buyers in big bog stores and deliverymen. Charge by the delivery time.Big-box retailers dominate. Home Depot and Lowe’s are the largest, with market shares of 27.2% and 18.4%. Home Depot has a very evolved eCommerce platform, and approaching 10% of their sales come from online. Lowes is currently building a more sophisticate online marketplace. Companies focus on specific product types. zenbuild for brick&stone, Buildzit for excess inventory, BuyChain for wood, SupplyHog for small home improvement supplies. ToolBx is now responsible for a large portion of the Toronto Home Depot sales. BuildDirect is the largest exclusively online home improvement site. It filed for bankruptcy protection in 2017 but replaced its executive team with former amazon executives. Some companies organize shipping, others leave it to the vendors. Very small items sent via mail or Fedex. LTL orders require additional packaging. Companies gather valuable data on customers and purchasing habits, monetizing that information for the retailers. Materials
  • 19. Marketplace leaders Material Specialty Value Add Logistics infrastructure Materials BuildDirect primarily specializes in flooring materials, hardwoods, tiles, and laminates. Zenbuild specializes in bricks and decorative stone. They have new, reclaimed, and discontinued products. SupplyHog specialized in hardware and small building supplies. BuildZit specializes in discounted overstocked, misordered, or discontinued materials of any variety. BuyChain specializes in wholesale lumber. Green Building Supply has an extensive learning center with a library of webinars and tutorials into products and techniques. Green Building Supply stocks around 60% and handles shipping primarily through fedex. The other 40% comes from distributors. BuildDirect is built on a highly sophistical logistics architecture that optimizes supply chain transportation. The company allows other distributors access to its logistics architecture and rents space in warehouses it uses. Zenbuild has Machine Vision technology that can identify existing brick and match it to materials in their database. Zenbuild has proprietary technology that calculates loads and shipping costs, while optimizing packaging. NA NA NA NA BuyChain has logistic automation software that automatically revises prices based on delivery. It also has automated notifications. BuyChain offers analytical market insights, RFQ management, and customer credit rating. Green Building Supply specializes in sustainable products, mostly wood floors, paints, cleaners, and home goods.
  • 20. Materials What challenges are marketplaces facing? There are tens of thousands of material suppliers in the US. Lowes itself stocks products from over 7,000 suppliers. Aggregating those suppliers and keeping up with their inventory is a monumental undertaking. FRACTURED SUPPLY In the retail space, Home Depot and Lowes command a position of huge market share and offer many of the types of products a marketplace could reasonably ship in the mail. MARKETSHARE OF LARGE INCUMBANTS Shipping large bulk orders is nothing like shipping through the mail. As Jeff Booth, Founder of Builddirect will tell you, building an online materials marketplace is like building amazon and USPS at the same time. INEFFICIENT HEAVY-WEIGHT SHIPPING
  • 21. Developments in the supply chain Predictive Analytics Customer Insight Predicting demand in real time will reduce warehousing space, allowing more capacity and reducing waste. Loading calculation and pre-loading AI that can calculate weight, packaging, and shipping costs instantaneously. By proactively loading trucks, Cemex has been able to reduce its fleet size by 35 percent. SaaS Transportation Management Systems BuildDirect Gateway offers company’s distribution network and TMS software for free to its distributors. Other companies offer such software as a subscription. Delivery advancements New Freight Entrants Within the past decade, Fedex has begun handling heavy orders as Fedex Freight. Transfix is a freight shipping sharing app for LTL and FTL delivery. IoT The enhancement of existing warehouse management systerms with the implementation of IoT devices can improve reliability in the supply chain. Dedicated last-mile-logistics platforms Companies like ToolBX provide 2-hour delivery from local building supply retailers, while providing data to retailers. Market Consolidation M&A The number of M&A transactions in the North American building-products industry has increased by 10 percent per year, from 118 in 2011 to 207 in 2017. Home Depot Pro In 2015, Home Depot acquired Interline Brands as The Home Depot Pro, expanding its offerings in multi-family hospitality, and industrial. Autonomous Trucks Increased Capacity By running 24 hours a day, autonomous trucks could increase the capacity of the US transportation network by 100 percent for 25 percent of the cost (TC). Trackablility Using GPS and sensors tracking materials, individual shipments will be traceable and delivery timing optimized. Materials
  • 22.
  • 23. Equipment Marketplaces Equipment marketplaces serve to connect equipment owners with customers who wish to buy or rent equipment. The primary means of purchasing used equipment is through physical and online auctions. The primary way to rent equipment is from physical rental houses. There is a lot of opportunity for aggregating the existing inventory into a marketplace. There are many value-add opportunities by digitizing the enormous fleet. Image: heavy equipment Equipment
  • 24. Original equipment manufacturers (OEM) Aftermarket parts OEMS Rental houses Auction houses United Rentals Sunbelt Rentals Herc Caterpillar Komatsu Hitachi Ritchie Bros Lyon Auctions Local Dealerships Large contractors 50/50 Rental houses Small contractors Auction houses How does the equipment market work now? equipment, parts, servicing equipment, parts, servicing
  • 25. ONLINE AUCTION HOUSES CLASSIFIEDS ONLINE RENTAL HOUSES RENTAL MARKETPLACES/ P2P MARKETPLACES Example Companies Example Companies Example Companies Example Companies Companies facilitate bidding between buyers and sellers Companies allow purchasers to find used equipment Ritchie Bros, the largest auction house, has a growing eCommerce business. In addition, they have purchased Iron Planet in 2016 The auction takes a fee, and often the seller goes home with less than 50% of the asset value after shipping and fees Typically, negotiation and sales are performed offline Companies hold inventory of equipment and compete against legacy rental companies like United Rentals. Companies aggregate available assets and provide a storefront for customers to see multiple prices They provide a digital presence for rental houses, which are slow to adopt technology Marketplaces take a share of the equipment cost far below what physical auction houses charge. They also charge a subscription fee for listing. They have good support from OEM as it allows their dealerships to compete with the large rental houses Types of platforms Equipment
  • 26. Equipment Market leaders Type of Platform Value Add 1: Asset management Value Add 2: Data insights IronPlanet is an online auction house. Customers can choose to buy now, make an offer, or bid. With rbAsset Solutions, IronPlanet offers an inventory management dashboard that also can list equipment for sale & arrange inspection. rbAsset Solutions visualizes market data and trends, demand map, and offers an AI-driven pricing suggestions, Machinio is a classifieds platform and search engine. It charges an annual subscription fee to dealers. MachineryHost is comprehensive software to design/host websites, manage inventory, create email campaigns and store contacts. EquipmentShare offers Track, an asset management software, for managing equipment and construction management on the job site. In the works NA In the works NA NA NA Online storefront for equipment owners. Sellers create their own branded storefront with unique url and list all equipment. EquipmentShare is an online rental house. The company owns a fleet while allowing owners to lend inventory for steady income. DOZR is a marketplace that shops the market for customers, based on their search criteria. There is also a an equipment search that shows competing prices. TracksNTeeth is an online marketplace for aftermarket non- OEM equipment parts. In the worksIn the works
  • 27. Equipment What are some of the pain points? Calculating the lifetime value of a piece of equipment is a complicated and laborious task relying on long-term business forecasts. Rentals frequently turn to sales and vice-versa. KNOWING WHEN TO RENT, BUY, OR SELL Getting a good deal on a piece of equipment frequently requires speaking on the phone with 6-8 rental houses, with numerous call backs and a lot of time lost in negotiations. GETTING THE BEST DEAL Heavy equipment shipping is an opaque and old-fashioned business, making it hard for contractors to predict and assure on-time deliveries. Equipment can often not be delivered onto sites not prepared for them. EQUIPMENT DELIVERY After deducting the cost of shipping equipment to the auction, the fees associated with selling and paying the auction, sellers can hope to fetch 30% the value of the equipment. LIMITED RETURNS FROM AUCTIONS Equipment requires professional inspection to verify that it is in working condition and can withstand the required work without servicing. Guarenteeing quality before puchasing is a major hurdle for renters. VERIFYING EQUIPMENT QUALITY AND SERVICING
  • 28. Equipment Marketplaces Used Equipment Markets Largest auction: $203M (2012) Total sales since 2003: $2.8B Lots sold: 157,349 Ritchie Bros Auction (Orlando) https://www.rbauction.com/cms_assets/images/ advertisements/Banners/Orlando2017/Orl_SalesTool.pdf
  • 30. WHAT IS COMPUTER VISION? Computer vision is a field of artificial intelligence that enables machines to understand and interpret the visual world. Leveraging images collected from hardware along with deep learning models, machines are able to classify and make decisions. What you see here on the right is an example of computer vision performing object/facial identification on the construction site. Copyight Corigin Ventures
  • 31. $25 B market IT IS AN EXCITING TIME FOR COMPUTER VISION The market, increased amount of use cases, and adoption for computer vision technology is driving a spur of investment in this space. According to Harvard Business Review, the computer vision market is growing at a rate of nearly 50% every year and expected to reach $25B by 2023. In the same survey of more than 250 business leaders about how they plan to apply AI and computer vision tech to their companies, 80% said they plan on adopting in the next 2 years. A McKinsey report in 2018 noted that out of a survey of 1,500 companies, over 20% are currently leveraging computer vision in their daily business processes. 4/5 companies plan on adopting 20% currently use in business processes Copyight Corigin Ventures
  • 32. COMPUTER VISION IS ON THE RISE IN CONSTRUCTION Computer vision technology has been coming of age in the past few years, maturing with machine learning and deep learning techniques. Although its applications to construction is at an impactful state, we believe that computer vision will become more commonplace throughout the construction process and apply to more use cases. It will also begin to replace more asset and hardware heavy methods to track objects or measure operations. Copyight Corigin Ventures
  • 33. Scanners and high quality cameras have gotten dramatically cheaper (and better) over recent years, making computer vision more easily accessible. Deep Learning has emerged and advanced greatly in recent years to be able to properly process complex algorithms and support computer vision use cases. Larger data sets are being collected and meticulously combed by the open source community to be able to train latest models, making computer vision more accurate and advanced. Spur of investment into this space in 2015 and 2016 encouraged a ton of startups and innovators to help make computer vision a reality, now used by all consumers in applications such as their smartphone. CAUSES FOR THE INCREASE IN TECHNOLOGY MATURITY AND ADOPTION The recent growth of computer vision startups and technology is due to several factors. The technology hit a spike in increased innovation in 2015 and has continued ever since. Copyight Corigin Ventures
  • 34. HOW DOES COMPUTER VISION WORK? Understanding the steps in how computer vision works is key to understanding where technology can advance and how startups stand out. Hardware scans object/area and collects images Images collected is turned into data Insights are created out of the data set Analytics is presented back to the user Data Collection Data Processing Decision Making/Analysis Data is enriched 1 2 3 • Images head to the point cloud, translating the images into language that the computer can understand • Infrastructure built will dictate how data is organized Where the secret sauce is Data is cleaned • Computer or person needs to make sure exploring data to make sure outlier patterns are not affecting results • Quality of images is evaluated and refined • Consistent and quality images is essential • Ability to access larger amounts of data sets will provide better machine learning models • External data sets can be leveraged to enhance the current data set • Techniques such as edge processing is improving turnaround times for data processing Copyight Corigin Ventures
  • 35. 6 TECHNIQUES THAT ARE BEING USED IN CONSTRUCTION There are dozens of different techniques used by computer vision to apply directly to use cases. The following are 6 mainly used in the market today – ranging from low (left) to high (right) on complexity. 3D Reconstruction Image Classification Object/Facial Recognition Robotic Navigation Augmented Reality Activity Recognition/Tracking FLUFFY THE CAT CAT Copyight Corigin Ventures
  • 36. Service Model Cost Model Customers WHAT DOES THE BUSINESS MODEL LOOK LIKE IN CONSTRUCTION? For startups in the construction industry, service and cost models vary greatly but target customers remain consistent. Developers General Contractors Sub – Contractors (rare) SaaS Hardware (Rental) Hardware (Purchase) One Time Fee Recurring Fees Per Project (Installation/Setup/SaaS) Per Service (Insights Report, Training) Per Month Per User Per Month Copyight Corigin Ventures
  • 37. WHAT ARE THE BIGGEST PROBLEMS THAT COMPUTER VISION IS TACKLING? Companies are solving problems across the construction value chain, often focusing on solving multiple problems faced by customers today due to manual processes or lack of existing data. PLANNING PHASE EXECUTION CLOSING 1 Design/Planning: How do we better our design and set my project up for success? • Excavation 2 Project Management: How are we doing against design? • Quality Assurance • Scheduling 3 Operations Management: How do we accelerate execution or improve on- site operations? • Safety • Workflow operations • Dispute documentation • Productivity 4 Insights: How do we close the loop to the owners or developers and assure future commitments? • Legal • Reporting Copyight Corigin Ventures
  • 38. Traditional means of site surveys and planning take months to execute and are prone to error. Innovation in this field is tackling the issue of more efficient design and decision making. DESIGN/PLANNING Techniques: • 3D Reconstruction • Augmented Reality • Object/Facial Recognition • Activity Tracking • Robotic Navigation Devices: • 3D scanner • Drones Source: PropellerCopyight Corigin Ventures
  • 39. Computer vision provides a new way to measure progress of build against design. Insights and analytics allow developers, GCs, and architects visibility into quality and control of build. PROJECT MANAGEMENT Techniques: • 3D Reconstruction • Image Classification • Object/Facial Recognition • Robotic Navigation • Activity Tracking Devices: • Phones • 3D scanner • Drones • Robots Source: Indus.AICopyight Corigin Ventures
  • 40. Computer vision provides an automated way to document and accelerate the execution process, manage workflow operations, and control safety. EXECUTION/OPERATIONS Techniques: • 3D Reconstruction • Image Classification • Object/Facial Recognition • Augmented Reality • Robotic Navigation • Activity Tracking Devices: • Phones • 3D Scanner • Glasses • Robots Source: DoxelCopyight Corigin Ventures
  • 41. As projects close, computer vision helps to close the loop by communicating to owners/ developers through insights and leveraging data to secure future commitments. INSIGHTS Techniques: • 3D Reconstruction • Image Classification • Object/Facial Recognition • Activity Tracking Devices: • Phones • 3D Scanner • Glasses • Robots Source: HolobuilderCopyight Corigin Ventures
  • 42. DIFFERENTIATORS FOR COMPUTER VISION COMPANIES What makes one company stand out verses another is based on one or a combination of the following components. Below are some good questions to ask to understand if a company has each differentiator. Data Structure  Data is structured for ML and good at handling noise  Ability to abstract data for privacy protection  Structure of data serves and supports the end application need of consumer Business Needs  Company understands construction business needs and regulations around construction industry  Easy to use for all levels of users  Covering first, a cost impacting use case and moving onto multiple Data Quantity  First mover advantage is essential in generating a good amount of data  Applicability of technology to multiple use cases to be able to collect more data Hardware Choice  Appropriate and flexible hardware choice with regulations for construction site  Maturity of hardware is there to be able to support unpredictability and movement on construction site Data Quality  consistent and accurate data means easier processing and better insights generated  This also means better technical abilities and less need to refine dirty or poor quality images  Is the team familiar with the structure and what differentiates it/fulfills business needs  When are they getting false positives/false negatives?  What types of images cause problems for them?  How well does the team know the data and how it relates to end user needs?  How is this bettering the current process?  If quantity is not large, what is the plan to grow the data set?  Are there other data sources out there? Who else might be doing this?  Is the hardware selection fitting for the customer? For regulation purposes? For maturity of hardware?  Is the hardware actually a value add? Or will it become a liability?  How good is the quality of images to begin with?  How many images is taken on site to generate desired outcome?  Can the company deliver consistently on what they are proposing to do? Esp. as they scale? Questionstoask Copyight Corigin Ventures
  • 43. WHAT’S NEXT IN COMPUTER VISION? Computer vision’s application in construction will grow as it replaces more asset heavier ways to accelerate tasks, track insights, and manage operations. More data and advanced algorithms will allow for advancement of the precision in the technology. We are excited for these additional trends for computer vision…. Modular algorithms will allow computer vision to start with dissecting very accurately modular components and applying them to complex image/object recognition. 1 Edge processing will improve user value proposition by reducing turnaround analytics time (2-3 times faster) & improving rendering. 2 Combining computer vision with other technologies such as language processing and exchanging learning will allow for new applications and use cases in construction. 3 Applications of robotics in computer vision will increase as visual inputs will be coordinated for integration and automation. Currently, this has not been mastered on the construction site. 4 Copyight Corigin Ventures
  • 45. Construction Marketplaces Labor & Professional Services Marketplaces Overview B2B Marketplaces that connect owners, contractors, and subcontractors. B2C Marketplaces that connect home-owners and creatives to contractors LABOR Marketplaces that connect contractors to construction laborers image: raygun media
  • 46. B2C Contractors to Home-owners We have identified over 20 B2C marketplaces, not including handymen services and persistent home repair. Companies often have multiple sources of revenue and utilize different models thoughout their lifetime. B2C Marketplaces image: 123RF
  • 47. Millenial’s driving renovations 72%more than Silent Generation 42%more than Baby Boomers 18%more than Gen Xers “The Renovation Generation” Rising home costs and lack of affordable housing has led the generation to buy fixer-uppers. Millenial homeowners have completed the most home remodeling projects in 2018 (42% more than Baby Boomers). They are twice as likely as baby boomers to complete bathroom and kitchen remodeling projects. They are, however, the lowest spenders yearly, with an average of $5,493. Homeadvisor truecost report: https://www.homeadvisor.com/r/wp-content/ uploads/2018/06/True_Cost_Report_2018.pdf B2C Marketplaces
  • 48. New companies trend towards more service Notes: Companies come in all revenue models, from freemium to lead generation to subscription End-to-End marketplaces offer only one bid, whether or not the contractor is under management The late 90s and early 2000s saw the creation of homeadvsor clones globally. My builder for UK and myhammer for Germany Homeadvisor has acquired many similar local companies and supporting companies between 2001 and 2017 * Porch has handymen on staff, but has subcontractors within the network B2C Marketplaces AIDED MARKETPLACE END-TO-END SERVICELEADGEN 1995 2000 2005 2010 2015 2020 COMPANY FOUNDING DATE * * * *
  • 49. B2C Marketplaces LEAD GEN AIDED MARKETPLACE END-TO-END SERVICE Featured List Model, Listing Fee Model, Lead Model, Freemium Model Example CompaniesExample CompaniesExample Companies Level of service varies from a curated list of contractors (Sweeten) to full scope-of-work documentation and bid coordination (Hire Haven). Transparency of bids used to increase competition and lower costs to customer Payments and contract negotiations handled off platform. Free to customer. Most are Commission Model. Brick and wonder has a subscription model for its community and heavy use of referals. Companies recommend one contractor within their network rather than collate bid Companies exist in hyper-vertical markets and compete with traditional contractors. Companies take partial responsibility over the construction project. Block and Paintzen supply cost and handle payments, roofr does not Commission Model, Subscription Model, Service Model VALUE ADD +- Marketplaces offer different levels of service Basic Matchmaking services are often considered spam, with contractors reaching out personally at all hours of the day Lead fee model unpopular with contractors, as HomeAdvsisor charges $50+ per lead. Leads are sold to multiple contractors, so competition is first-come-first-served
  • 50. BLOCK RENOVATION Block plans to be an end-to-end marketplace and service for renovating urban bathrooms, based on simple templates and automated management processes.
  • 51. B2B Contractors and subcontractors Subcontractors rely on many sources for work, often from offline avenues: referals and networking. It is often said the best way to get work is to network with architects, who are the first to know of new projects. Construction data companies like Bidclerk provide project information daily and serve as lead gen for subs. General contractors rely heavily on referals for subcontractors; Qualifying subs (references, finances) is a major pain point not currently solved by lead gen networks. B2B Marketplaces image: iStock
  • 52. How do subcontractors find projects now? 3 Manual reaching out 4 Project data companies 1 Referrals 2 Previous working relationships 5 Job boards and B2C marketplaces B2B Marketplaces A lot of hustle is required to find work as a subcontractor. Large GCs prefer to work with companies they have experience with and are skeptical of new entrants. Much of the process for finding work happens offline. There are some large and old platforms that offer data that subcontractors can use to reach out to GCs and owners directly.
  • 53. STEP 1: FIND PROJECTS & DOCUMENTS STEP 2: TAKE-OFF & ESTIMATING STEP 3: BID MANAGEMENT STEP 4: SIGN CONTRACT FINDING WORK MOBILIZATION STEP 5: MOBILIZATION & PAYMENT Pre-construction value chain Databases of projects, companies, personnel Microsoft Word Some small companies outsource take-offs abroad Software provides platforms to measure areas, collate quantities, and integrate costs Different specialties use specialized trade take- off software Bidding procedures can vary widely from one project to another Manage sub-contractor database, organized by specialty Software tracks status of multiple contracts, RFIs, submittals, communications, and billings GCs continue to share and update project documents, collaborate on estimating Every contract is unique, taking into account time frame, prices, payment methods, pentalties, etc First payment 30 days after mobilization Payments handled in many ways, from online banking to checks to cash Payments disbursed over the lifetime of the project Local reporters researching projects Government agency websites posting work Reporting agencies are subscription models based on search area Example Companies Example Companies Example Companies Example Companies Example Companies B2B Marketplaces
  • 54. B2B Marketplaces Takeoff software should integrate seamlessly with BIM, and quantities should no longer be manually counted One platform can provide the entire pre-construction workflow, including payments Eliminate identical offerings within large conglomerates like ConstructConnect. Areas for improvement nd tforms The process of finding and securing work for sub-contractors is highly laborious, crosses multiple platforms. Information is often opaque and subs will pay a lot for early advantages on new projects. Request for bids are typically sent to selected subs rather than the open market.
  • 55. Labor Marketplaces Subcontractors to skilled tradesmen There is great demand for platforms that improve the ability to hire skilled labors. The labor shortage is felt throughout construction, from rising construction costs to contractors taking on less work. The current platforms for finding construction workers are not suited to the population they are targeting. There is great opportunity for companies that find ways to access and hold onto this enormous labor force. onstruction by Hudson r 50% of the site are not o work spans g agencies n the rising g need for the future. Labor Marketplaces image: stcmilwaukee
  • 56. Total Addressable Market Marketplaces Overview 600,000+ CONSTRUCTION EMPLOYERS $400B+ ANNUAL WAGES 6th LARGEST INDUSTRY BY JOBS 7,000,000+ CONSTRUCTION WORKERS United States
  • 57. Labor Market Challenges Marketplaces Overview Lack of training and skills is prevalent in the industry. Over 80% of contractors complain of not being able to find skilled labor. Lack of workers is the number one complaint among contractors. SKILLED LABOR SHORTAGE Productivity in construction only grew 1% on average every year, in contrast to 2.8% for the world total economy and 3.6% in manufacturing, according to the McKinsey Global Institute. PRODUCTIVITY Another result of an unskilled labor force is bad safety practices. According to a poll by eSub, 71% of contractors have reported an accident in the last year. SAFETY Only 3% of the construction laborforce is a millenial. Many millenials say they will not enter construction, regardless of compensation. Over 20% of the labor force is approaching retirement. GENERATIONAL DIVIDE
  • 58. The recruitment landscape lacks a marketplace MARKETPLACES STAFFING AGENCIESINDUSTRY AGNOSTIC JOB BOARDS CONSTRUCTION JOB BOARDS SIZEOFNETWORK SmallMediumLarge Notes Tradesmen typically do not use resumes to get work Staffing agencies can charge up to 30% to place workers. They do not divulge the size of their workforce Staffing agencies do not divulge the size of their network * Labor Marketplaces VALUE ADD +-
  • 59.
  • 61. WHY 3D PRINTING FOR CONSTRUCTION? We believe that 3D printing is one of the most influential disruptor in construction that the industry has seen in a while . The traditional means of construction has seen little innovation since the Roman times. In order to stay competitive, reduce waste, and increase affordability of build, construction companies will need to adopt 3D printing. This trend has already hit other markets around the world such as China, UAE, and the Netherlands. Copyight Corigin Ventures
  • 62. Innovation 1980 19001985 20001995 20102005 20202015 Start of 3D Printing Concept by Hideo Kodama Article Commercialization of 1st 3D Printer by 3D Systems 3D systems created first breakthrough SLA machine 1st 3D printed organ Start of the open source movement World’s 1st 3D- printed unmanned aircraft was flown Object built the first machine to print with multiple materials First 3D printed functioning car and GE adopts wide application of 3D printed aviation parts 1st 3D printed skin MIT discovers way to print glass Development of Cement and Contour Techniques, along with shaping Enrico Dini invented D - shape technology to enable 1st large 3D printed structure Winsun 3D printed 10 houses in 24 hours Dubai’s workplace of the future is the first 3D printed entire building Production of construction grade 3D printers comes to market MX3D prints first 3D bridge in Netherlands in 6 months Icon is set to build the 1st 3D printed neighborhood in Latin America Dubai introduced law that by 2025, every new building in Dubai will be 25% 3D printed Overall 3D Printing Construction 3D Printing Expiration of patents for major players in the industry HISTORICAL CONTEXT FOR THE RECENT ACCELERATION IN 3D PRINTING Innovation in 3D printing has increased exponentially since the industry move to open source; yet construction focused innovation still falls behind the industry average. Copyight Corigin Ventures
  • 63. Build 3D CAD Model with Design Software Keep a close watch to dictate and make sure materials are disposing properly Send specific instructions to the printer about the amount, location, and material used Import .STL to slicer software (.gcode) to successfully layer the materials to be properly deposited into the 3D printer Blueprint is extracted into a file recognizable by the slicing software Use Existing CAD Model From Marketplace 3D Scan Existing Item to Import DESIGN TOOL PATHING PRINTING 3D PRINTING PROCESS To start, we want to provide an oversimplified view of how 3D printing works from an industry agnostic view. Copyight Corigin Ventures
  • 64. AREAS OF INNOVATION To support the 3D printing process, companies innovate in major categories, usually starting out with one and expanding into multiple areas. Below are also the 4 different types of products being 3D printed today. Materials  Polymers and composites  Metals  Ceramics Communities/Services  Research and design services  Printing as a service  Marketplaces  Learning Software  Design & CAD  Slicing & tool pathing  Simulation  Workflow software  Security/IP  Network environment Hardware  Polymer Machines  Desktop machines  Metals machines  3D scanners ServiceModel Nano  Particle modification for new materials development Small Parts  Prototypes (Product Development)  Materials Composites (Testing)  Construction parts (nails, tools, etc.) Large Parts  Interior Components  Architectural Facades  Construction Molds  Artificial reefs  Follies  Sculptures Whole Products  Concrete houses  Bridges and civil infrastructure Products Copyight Corigin Ventures
  • 65. Total output of 3D printing in construction is estimated at <$100 million currently. Analysts forecasted that 3D printing in the construction market is expected to grow + $40B USD by 2027 Since the spur of the open sourced movement in 2005 and major patents expiring in 2008, the number of existing startups in 3D printing touching construction increased at exponential rates. Source: SmartTech Markets (left), Corigin Ventures (right) 6 7 8 10 17 21 27 33 40 44 55 64 2005 2007 2008 2009 2011 2012 2013 2014 2015 2016 2017 2018 GROWTH IN THE CONSTRUCTION 3D PRINTING LANDSCAPE Startup innovation is increasing at exponential rates to disrupt this lagging sector and aim to gain share in an extremely large potential market. Construction 3D Printing Startups Copyight Corigin Ventures
  • 66. Shifting government sentiment  United Arab Emirates mandate to 3D print 25 % of all new buildings by 2030  UK has developed national strategy for 3D printing, promised 200M pounds of investment in 3D printing and estimating that in construction alone the technology could contribute more than $1 billion to annual GDP and create 15,000 jobs by 2025  China, a leader in 3D printing in construction, has invested millions of dollars – resulting in $3B of output in 2020 Innovation & Corporate Investments  Programs such as Techstars + Stanley construction 3D printing program and Nasa’s 3D printing competition has spurred a new level of innovation in this space  Companies such as Autodesk and Katerra have their own 3D printing incubators and continuously invest in R&D  Corporate investments topped $470M in 2017 in industrial 3D printing technology – expanding innovation for large grade printers Increase in housing demand  According to Autodesk, a rising global population will lead to increased demand for buildings. This demand, combined with the short supply of qualified workers, has pushed the construction industry to consider new building techniques  The rising cost in construction (21% in the past 8 years in the U.S.) is surpassing the average income for residents, decreasing the affordability of living. Legal changes through 2021 residential regulations  Multiple startups are working with regulators on rewriting the codes to allow for 3D printed structures for the approval meeting in 2021  Tackling at the federal level first enables off-site production companies to avoid dealing with specific state and local laws Source: Autodesk, Crunchbase WHY IS NOW THE TIME TO PAY ATTENTION We believe that 3D printing for the construction industry is entering into a tipping point for accelerated growth due to the following factors. Copyight Corigin Ventures
  • 67. Cost Related Others Labor Time Materials and Waste It is estimated that the construction of an average home generates 2.5 to 4 tons of waste. With additive rather than subtractive processes, existing projects have shown a 30-60% reduction in material waste. Logistics With machines doing much of the heavy lifting, labor will be exponentially reduced, though not eliminated. Existing projects use 50-80% less labor and up to 50% cheaper total cost. Machines can build around the clock and decrease delivery time. In existing projects, 3D printing saves 50-70% in construction time. On-site and off-site 3D printing decreases the amount of steps in supply chain to get houses created and reduces machines needed on-site. Weight Environmental Impact Risk Design Freedom 3D printed materials are lighter in weight and on average sturdier than traditional materials used in construction. Additionally, it decreases the weight needed to transport in case of off-site construction. Encouraging the circular economy, 3D printing involves an integrated process of taking materials and applying them to use without waste. Additionally, new innovations are using old objects or recyclable materials to grind down and reuse to build. Quality Machine operated precision decreases risk for human error in construction as well as mitigate large delays in project timeline due to logistics or labor causes. 3D printers avoid the manufacturing restrictions of traditional construction methods and allow architects/developers to have freedom in expressions/form. Advanced level of precision as the technology progresses will allow for improvement in quality for construction. CLEAR BENEFITS In an industry that has particularly high barriers to adoption, startups will need to highlight the benefits of 3D printing for construction. Copyight Corigin Ventures
  • 68. Laws and regulations still has ways to go on evolving as insurance, IP protection, building codes, and safety needs resolved before the industry can progress. Luckily, there are numerous start-ups tackling these issues. Skill gap pervades as 3D printing requires specified skills and can be highly technical to use, and the supply for these skills is scarce. Ever evolving business case is one familiar to the challenges of adaptation in emerging technologies. Often times, especially in a highly fragmented industry, it is hard for businesses to take on the upfront hardware costs and risks. Precision for machines still need to evolve for larger commercial machines and 3D printing companies need to prove their techniques can produce buildings that stand the test of time, weather, sturdiness and other livability standards. Limited amount of materials are still being served in construction tech 3D printing and most machines do not cater to the complex multi-material needs of homebuilding. CHALLENGES TO OVERCOME Despite the clear benefits, to reach its full potential, 3D printing in construction has challenges to overcome. Currently, 3D printing in construction is mainly being used for prototyping and limited scale production. In order to scale, many factors will need to evolve to further the adoption of innovations in this space. Copyight Corigin Ventures
  • 69. Today Near Future Long Term  Start-ups are working with regulators are re-writing building codes/regulations  Current more established companies are leveraging 3D printing for rapid prototyping, design freedom and perfecting the ability to print parts  Cities like Dubai and Beijing are paving the way for setting 3D laws/standards  Whole printed buildings are still rudimentary and leveraged mainly for producing low-income housing  Limited building codes will change, enabling limited off-site production at the national level regarding 3D printing as the technology as it matures  Adoption will grow for 3D printed residential houses along with the start of building more upscale residential projects  With the success of adopting to smaller projects, technology will shift towards more mobile, on-site production and builds along with regulations  Materials innovation will be a continued differentiator for companies in the 3D printing space. Further R&D will evolve acceptances of new materials  Residential structures will be fully 3D printed, eventually shifting to printing parts of commercial buildings for larger projects  Innovation will mature for increase collaboration and ability to search for common construction related 3D materials  Learning/education will be a standard part of construction company operations  3D printing specialized materials will surpass use of traditional materials on quality, weight, and economics  Mature 3D printing technology for construction will greatly improve the quality of living and affordability for houses and commercial space around the world WHERE THE FUTURE IS HEADING Nevertheless, we believe that overcoming these challenges is just a matter of time as the industry evolves. Copyight Corigin Ventures
  • 70. First neighborhood in Latin America. Icon Copyight Corigin Ventures
  • 71. First 3D printed bridge and mobile on-site printer along with decorative interior pieces. MX3D Copyight Corigin Ventures
  • 72. First 3D printed 2 story house, office building, and soon Hyperloop railway, infrastructure in Middle East, and neighborhoods in China Winsun Copyight Corigin Ventures
  • 73. C O R I G I N V E N T U R E S . C O M Thank You