Structure Plus saves money and time for construction firms and real estate developers by making their structural design more efficient using AI.
We have currently done pilot projects which saved about $3 million of our users money and we've gotten $90k revenue in our pilot phase
Construction firms and real-estate developers building steel or concrete structures.
Problem or Opportunity
Construction firms and real-estate developers have been actively looking for ways to reduce costs in their building structures. In a typical residential building, about 30-40% of the costs are related to the structures. There are traditional firms that are specialized in optimizing the structural design once it's designed by engineers. however, these firms were never in favor as they optimize the designs by 1-4% and take up to weeks and months depending on the size. This has caused construction firms to hire engineers that design more efficiently in the first place to save time. However, no human engineer can match what an AI can do in optimizing a structure. Structure Plus saves money and time for construction firms by optimizing their designs dramatically in just a day rather than weeks.
Solution (product or service)
Construction firms can save millions of dollars just making optimizing their structural design. By using Structure Plus AI users can save million on their large projects by simply uploading their structural design in the structure plus dashboard they've been given and receive an optimized version in just a few hours or days. Our current average optimization rate has been 17% (meaning we've saved material usage of a structure by 17%)
Existing alternatives include traditional firms that use human engineers to optimize small projects.
Advantages or differentiators
There are firms that provide structural optimization services to construction firms and real-estate developers, however, it takes these firms weeks and even months (depending on the size of the structure) to optimize the structure by only 1-4%. Structure Plus AI provides structural optimization with the power of cloud-based AI to optimize a structural design by an avg. of 17% in just a few hours rather than weeks and months, which translates into millions of dollars in saving for a firm.
The current business model works as a pay-as-you-go model. We get 5% of the amount we save for our customers.
KPI: number of projects and total square foot optimized.
Money will be spent on
- Technology development - Marketing, Sales, and PR - Human Resources