By Anthony Harrup
MEXICO CITY--Mexican construction materials company Cemex SAB is making its facilities and experts available to promising construction technology startups to speed up development of innovations for the industry.
Under Leaplab, venture capital unit Cemex Ventures will connect startups with Cemex facilities in six countries, providing advice and real-world experience, the company said.
The focus is on developers using artificial intelligence to further ecologically friendly construction, efficiency, supply-chain issues and innovation.
"Piloting, testing, and scaling in the construction industry can be costly and time consuming. Barriers to entry can stunt promising ideas before they have a chance to prove their value," Cemex said.
Leaplab will begin operations with seven three-month pilot programs in Mexico, the U.S., Israel, the U.K., Spain and Colombia, Cemex said. The pilots involve artificial intelligence and machine learning in cement, concrete, aggregates and supply-chain operations.
The program offers startups quick validation of their business models, while giving Cemex early access to those with high potential, some of which could eventually become partners or suppliers, Cemex said.
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(END) Dow Jones Newswires