Suffolk’s technology investment arm kicks off its second year of the highly-successful “Boost” program to support tech startups across the construction ecosystem
BOSTON- Suffolk Technologies has opened applications for its second annual “Boost” program. The “Boost” program is an intense six-week program that connects built world technology startup founders with Suffolk leaders, industry experts and academics to solve the startups’ proposed industry challenges, expand their networks and showcase their products. “Boost” is presented in partnership with Procore, RXR Realty, EquipmentShare, OpenSpace, and the MIT Center for Real Estate. Suffolk Technologies is the venture capital investment arm of innovative real estate and construction enterprise Suffolk.
“A strong vision and relentless desire for innovation are critical for success and sustainable growth in our industry. At Suffolk, we are continuously exploring new technologies, solutions and partners that will add value for key stakeholders across the entire building lifecycle and push our industry forward. We are absolutely committed to redefining what it means to be a builder,” said John Fish, chairman and CEO of Suffolk. “Suffolk Technologies and Boost allow us to identify and partner with some of the most innovative, disruptive startups in the built world that will help us transform our industry for generations to come.”
“We were impressed with last year’s Boost cohort and are excited to continue the momentum with a new host of startups dedicated to addressing some of the greatest challenges in our industry. We look forward to working closely with this next class of innovators and bringing their solutions to the built world,” said Jit Kee Chin, Chief Data and Innovation Officer for Suffolk.
The Boost I Cohort was comprised of Canvas, PassiveLogic, Flexbase, Diamond Age, and THRUX. As a result of their participation in the Boost program and the support and engagement from Suffolk leaders, these companies launched new products, onboarded major customers, and raised significant institutional capital.
“The Suffolk Boost program is one of a kind in the built world and provided us with direct and valuable product feedback as we first launched to market. Today, less than a year later, we are growing our operation and have already onboarded more than 100 customers,” said Zaid Rahman, Founder and CEO of Flexbase, a participating company in the first Boost program.
“Through Boost, we had all these experts in the room driving toward our goal,” stated Kevin Albert, Founder and CEO of Canvas, another participating company at Boost I. “Suffolk is taking a proactive approach to innovation across the industry and this program was critical to our achieving a more holistic view about how to deliver value and improve project outcomes.” Canvas recently closed a $24 million dollar series of fundraising.
Applications for Boost II are now live at https://www.suffolk-tech.com/boost through September 22, 2021, with finalists announced in mid-October.
If selected into the cohort, “Boost” participants will gain access to Suffolk’s network of industry leaders and experts who will collaborate with them to address their specific challenges. The program will consist of several elements, including: 1) lectures and discussion sessions led by Suffolk leaders, successful contech + proptech founders, MIT professors and industry influencers; 2) dedicated time with Suffolk’s Solution Directors who will partner with the finalists and potentially test their solutions on Suffolk project sites; and 3) a Demo Day for finalist startups to share their solutions with industry influencers and investors. The Suffolk Boost program will be led by Parker Mundt, operating director of Suffolk Technologies.
Important dates for 2021 “Boost” Program:
- Open now — Opening of applications
- September 22 – Applications close
- September 29 – October 12: Interviews with applicants
- October 13: Finalists announced
- October 20: Program begins
- December 1: Program ends
- December 3: Demo Day