Memoori has published a new report, which highlights the critical contribution Startups are making to the introduction of innovation in the Smart Buildings space.
Over the last nine years, a plethora of venture-backed startup companies have targeted commercial and industrial building owners and operators with technology offerings. These have been aimed not just at reducing energy costs, but also improving real estate operations, increasing the performance of physical security in buildings and also offering smart building to smart grid applications.
More recently, the Internet of Things is starting to have a profound effect on the competitive landscape, as software platforms, advanced sensors and networking solutions enable a new range of data-driven solutions for buildings. New players are emerging offering innovative solutions and new business models, reflecting the market disruption currently underway.
- Startups have attracted over $3.9 billion worth of investment since 2008, with the highest level of funding achieved in 2016! Showing increased confidence by investors in the sector and indicating the positive response companies are receiving for their products and services in the market.
- There has been a fundamental change in the last two years in the nature of collaboration between established incumbents and early stage startups, which is now regarded by many players as being critical to their respective success. Corporations and startups have begun working together in new ways, with a focus on flexible, early-stage, open-ended partnerships. Indeed many corporations no longer view innovation efforts with startups as nice-to-have but ‘mission critical’.