From urban sprawl, to aging infrastructure, to the rise of electrification, we are seeing increasing challenges for infrastructure professionals. Digital twin, metaverse, and BIM (building information modeling) have the potential to completely transform the way the construction industry does business—and we are seeing some big announcements and advancements that will make an impact.
Consider the example of iTwin Activate. Bentley Systems has launched the 20-week codevelopment program to accelerate early-stage startups in infrastructure engineering software. The company engaged with many startups in the past couple years and saw the need for an organized way to support early-stage startups that were trying to accelerate their go-to-market actions as they prepared for seed or Series A venture rounds.
Tom Bentley, program manager, Bentley iTwin Ventures, Bentley Systems, and Tom Kurke, vice president, ecosystem and ventures, Bentley Systems, say iTwin Activate is a program for early-stage startups to accelerate their go-to-market and find synergies with Bentley technologies. During the four-month program, startups will build a project on the technology that will address problems our shared users face, attend a series of workshops focused on building a startup in the infrastructure industry, and receive funding to cover participation in the program through a Simple Agreement for Future Equity.
The program is organized into cohorts aligned to different industry sectors and is managed by Bentley iTwins Ventures.
Bentley and Kurke say: We organize iTwin Activate into cohorts focused on either a particular sector of the infrastructure world, such as our grid-focused cohort in the fall of 2022, or a key technology, such as our now-developing cohort focused on Internet of Things. We do this so that the expertise that we bring into the cohort—both from the startups and from the workshop leaders—have shared experience in the particular dynamics and challenges of that field of the build environment and can share those insights.
iTwin Activate Cohort #1 supported four startups. One example is Spatial Data AI’s solution, which automated the processing of LiDAR data from point clouds into ready-to-use vector formats. As another example, Virtual Technology Simplified enables tablet and phone data capture of utility assets and developed a data mobility and visualization solution on the iTwin Platform.
iTwin Activate Cohort #2 will focus on solutions for Infrastructure Internet of Things use cases and is open for all interested parties to apply.
Bentley and Kurke say: We also work with Bentley business leaders in that field to bring business and technical expertise into the program to ensure that the startups will have the resources they need to create compelling projects that can fit the needs of infrastructure professionals.
All in all, we see here the iTwin Activate program supports startups in scoping and building industry relevant solutions by leveraging or interoperating with Bentley technology through program and codevelopment funding, solutions architecture support, and access to Bentley executives for commercial insights.
At the end of the day, Bentley and Kurke say: The construction industry will find ways to innovate and respond to the new demands on our infrastructure as well as the next generation of professionals entering the field, and technological innovation will be a part of this. I believe we can help support startups that will be a part of that innovation.
For more information about the program, please visit, Bentley’s iTwin Activate at https://bentleyitwinventures.com/itwinactivate/
Want to tweet about this article? Use hashtags #construction #IoT #sustainability #AI #5G #cloud #edge #futureofwork #infrastructure