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Structure Plus

Building structural optimization using AI

Canada, Toronto
Market: Real estate, Other, Artificial Intelligence
Stage of the project: Operating business

Date of last change: 11.04.2021
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Idea

Structure Plus saves money and time for construction firms and real estate developers by making their structural design more efficient using AI.

Current Status

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

Market

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%)

Competitors

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.

Finance

The current business model works as a pay-as-you-go model. We get 5% of the amount we save for our customers.

Business model

KPI: number of projects and total square foot optimized.

Money will be spent on

- Technology development
- Marketing, Sales, and PR
- Human Resources

Team or Management

Risks

Getting large clients is our biggest challenge and potential competition that has signed with large firms can provide deep challenges for our business and is considered as a business risk.

Won the competition and other awards

We've published 5 academic papers on our AI which has a university award.

Invention/Patent

We have a provisional patent on our proprietary AI engine

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Presentation