Company Builder drives digitalization of construction industry with ConcR. ConcR combines sensors in one app with real-time data to create an IoT application for the construction industry of the future. Intelligent solution enables cost reduction as well as higher process efficiency and material reliability
Berlin, November 25, 2019 – The Company Builder for IoT and Blockchain, Next Big Thing AG (NBT), has founded a new company that aims to lead one of the most dynamic industries of our time into the future: ConcR is an intelligent, IoT-based technology solution for concrete construction that combines sensors in an app with real-time data. This not only reduces costs but also makes construction processes more efficient. The entire urban infrastructure benefits when construction projects can be completed more quickly based on data-driven business models. Next Big Thing AG, along with founder and CEO Harald Zapp, thus lay the foundation for the digitalization of the construction industry.
New standards for tomorrow's concrete construction
According to PwC, the global construction market is expected to be worth 15.5 trillion euros by 2030. Despite the continuing boom, the construction industry is one of the least digitized sectors - although the advantages are obvious and the potential immense. Next Big Thing AG develops new, innovative business models on the basis of disruptive technologies such as IoT, Blockchain and Machine Learning / AI in order to break through reservations and master real economic challenges. ConcR's solution pays tribute to tackling existing logistical hurdles in the construction industry: With the use of sensors in concrete work, drying times are optimally analyzed, allowing construction projects to be completed more quickly. This enables an efficient and safe expansion of a strengthened and resilient infrastructure for the future.
"Never before has the ability to innovate been so economically important as it is today," says Harald Zapp. "It is about time for the construction industry to go digital. Solutions like ConcR will help contractors to succeed in the future."
Securing the expansion of urban infrastructure with technology
The concrete infrastructure forms the framework of our modern society. The streets and buildings that are part of it must be functional and safe, while at the same time growing in line with social requirements. This puts building contractors under time, cost and quality pressure. Traditional concrete testing methods are time-consuming, labour- and resource-intensive, and expensive - especially in large-scale projects. ConcR provides a more advanced and efficient method for measuring the compressive strength of concrete, assessing the quality of vibrations applied during pouring, and monitoring material progress and production performance.
"The construction industry is still in the early stages of digitization and we are excited to make a significant contribution with ConcR. With our IoT solution, we are laying the foundation for developing technical solutions that will enable more efficient processes on construction sites in the future," explains Christoph Brück, CFO at NBT.
The ConcR sensors are integrated into existing tools to create a model of the relevant data of the concrete building structure as a digital twin. Measured information is directly processed, updated and made available to all stakeholders. This means that processes can be accelerated many times over at an unprecedented scale, which in turn makes an immense contribution to the construction industry of the future.
Innovations that matter: Extended venture portfolio
Next Big Thing AG, as a co-founder with its ecosystem of experts, continuously develops new, innovative business models based on the future technologies IoT, Blockchain and AI, puts them into practice and thus aims to increase the pace of innovation in Germany. In an accelerated company building process, NBT examines the marketability of the ideas with its industrial partners and founds companies. With NBT's own venture design process, the Company Builder ensures a fast and steep success curve. For example, METR, which is pushing ahead with the digitalisation of the housing industry, and AssistMe, which specialises in precision care for nursing staff, were successfully spun off as ventures. Further projects are launching soon. With a clear focus on building a (Machine to) Machine Economy, NBT is laying the foundation for a future of trustworthy, high-quality data. Automation through intelligent contracts and sensors makes communication between connected devices more efficient. The Company Builder, together with its partners and as the government's digital hub, is thus paving the way for the machine economy
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Next Big Thing AG (NBT), founded in 2016, is a Berlin-based IoT and Blockchain Company Builder that establishes successful companies. The company provides a full range of services for the development of IoT joint ventures. NBT is Europe's leading Company Builder for the Internet of Things and Services (IoT/IoS) and blockchain and currently has 61 employees from 21 nations. As a company builder and corporate innovation partner and operational VC, NBT acts as a hub of a growing ecosystem of companies, founders, technologists, entrepreneurs, investors and politicians. With its unique know-how in IoT, NBT is the point of contact for innovations in Europe – so that companies can realize promising innovations with extraordinary speed. NBT is part of the de:hub, the digital hub initiative of the Federal Ministry of Economics and Energy, which integrates medium-sized and large companies with new innovation partners from science and the start-up scene into a Germany-wide digital network. Further information can be found at www.nextbigthing.ag.
ConcR enables industrial construction companies to accelerate concrete testing and reduce project duration by up to 28%. It improves pouring quality, streamlines decisions and reduces costs. Using ConcR’s IoT concrete maturity sensor, construction workers get real-time insights to optimize their work and project managers can visualize the key metrics on their BIM environment to keep projects on track.