Today, we’re taking you behind-the-scenes of an exciting, new(ish) opportunity to innovate. According to a 2016 report by Boston Consulting Group, “the construction industry has undergone no major disruptive changes and has been slow at technology development.” Thankfully, one serial entrepreneur and venture capitalist in Atlanta is working to change that.
Meet K.P.: The Godfather of Atlanta BuiltTech
K.P. Reddy, best-selling author of What You Know About Startups is Wrong, is a master of disruptive innovation. After starting and selling his first company at age 19, he started giving back to the Atlanta startup and business community through ATDC and The Combine. Now, he’s leveraging his 20 plus years of experience to tackle a new, $30 trillion market opportunity.
Built environment technology (AKA BuiltTech), refers to the innovation through technology that provides the framework for the physical world around us. It shapes the future of planning, design, construction, and management of buildings, infrastructures, and cities.
Why BuiltTech? Why Now?
As competition amongst contractors, developers and investors increase and the productivity of construction labor continues to decline, the need for technology adoption grows exponentially. As a result, this relatively new market is exploding, with more and more venture capital money pouring in to innovative BuiltTech startups. In fact, according to CIMdata’s 2017 AEC Market Overview Report, the real estate tech and construction tech spaces are seeing “unprecedented levels of deal and funding activity.”
“As entrepreneurs, we’re moving towards changing the physical world around us. We’ve conquered the digital world and now we’re seeing interesting opportunities and ideas around changing the physical world.” – K.P. Reddy
As an Atlanta local and Georgia Tech graduate, K.P. is leading the charge for local BuiltTech innovation. BuiltTech Labs (backed by Shadow Ventures), is a closed ecosystem of innovators, entrepreneurs, and investors seeking to disrupt the Built Environment through innovation. With an impressive roster of startups, established companies, and industry experts K.P. is on a mission to serve as a catalyst for disruption in the Built Environment in Atlanta and beyond.
One thing is clear: disruption in the Built Environment is coming. The companies that are willing and ready to capitalize on the opportunity will reap the reward. We can’t wait to watch the innovation and growth that’s to come. Want to go behind-the-scenes with K.P. Reddy to learn more? Check out this recent 3Ci Connect interview with K.P. and our very own Titania Jordan. Stay tuned for more BuiltTech news and insights on our blog.