In 2020, a group of some of the brightest minds in the architecture, engineering, and construction (AEC) industry came together to answer the question, “How do we find technology platforms that are made especially for our industry by those who know it best?” The answer: AEC Angels.
AEC Angels is an investment platform focused on AEC technology, leveraging the expertise of its industry-leading member companies: Thornton Tomasetti, STO Building Group, Syska Hennessy Group, and SHoP Architects. Each of the companies has its own team of innovators who are continually developing and testing new technologies, adding another dimension to the platform.
In a conversation at the BuiltWorlds’ 2024 Buildings Conference, AEC Angels members discussed strategies for balancing innovation and investment, furthering industry-wide tech adoption, and what technologies they are most looking forward to seeing in the near future:
- It comes from the top. Top-down leadership remains critical to success in the AEC industry. Effective innovation is driven by an engaged C-suite that understands the needs of business units. When top executives are involved at the business unit level, companies can implement more effective innovation strategies, leading to stronger relationships with new technologies. “Our innovation team engages with various levels at STO Building Group, including our most senior executives, on a regular basis to ensure continuous evolution,” said Rob Leon, chief innovation officer.
- Don’t ignore change. AI is a major disruptor. AEC companies must face it and learn to leverage it or they risk falling behind. The AEC Angels group stressed the importance of staying informed about new technologies, like AI, to develop implementation strategies suited to individual business needs. With effective data strategies and a solid understanding of AI, AEC companies can mitigate adoption risks.
- Teamwork makes the dream work. With different perspectives among along the AEC continuum among them, AEC Angels can uniquely assess opportunities through a comprehensive industry lens. Member companies provide early partnerships to portfolio companies, adding significant value for startups. AEC Angels also supports portfolio companies beyond the initial investment by offering resources and industry connections from corporate members. While investments can lead to strategic partnerships with member companies, AEC Angels’ focus on diverse company types allows the fund to invest in technology for the industry’s overall improvement, rather than purely strategic or financial motives.
STOBG + BuiltWorlds
STO Building Group has been a long-time partner with BuiltWorlds, whose global member network and growing team of dedicated analysts provides buildings and infrastructure professionals with analyses of key trends, data-driven research, and collaborative, topic-focused events and research tracks to succeed in a complex and changing world.