Sydney startup Construction Cloud has represented Australia at the University Startup World Cup after winning the fifth annual 3P Business Plan competition at the University of Technology Sydney.
The startup, founded by engineering students Hartley Pike and Jan Schroeder, and Samuel McDonnell, an industrial design student, has created a SaaS application that looks to improve on current construction project management systems. It increases the efficiency of the processes associated with multimedia data, including photographs and video, that occur during large-scale construction projects.
The idea came from Pike’s experience working with engineering firms, seeing how poor communication and management of project files loses companies both time and money. Processes currently used in the construction industry see files manually transferred from a device to a project’s public drive.
“Because it is so inefficient, a lot of the time it simply doesn’t happen. The result is that at the end of the project, we have no access to the visual information that we need,” Pike said.
This can prove costly if there are problems with or disputes regarding a project.
Professor Zoltan Matolcsy of the UTS Business School Accounting Discipline Group, organiser of the 3P Business Plan competition, said this is the first time the competition has been won by a team consisting of students from the engineering and design faculties.
The competition asks students to come up with innovative business ideas that consider people, the planet, and profit. Previous competition winners include ‘social textbook’ startup MindInk, and the now defunct 99 Dresses.
Second place went to a startup called Loyalty, which has created software that enables EFTPOS terminals with a loyalty marketing system. Third place went to 4GS Sydney, creators of an app called Lifekeeper, which tracks personal expenses through text mining and analysis.
The Construction Cloud founders travelled to Copenhagen last week for the World Cup. The event, which saw entries from over 3000 universities around the world, divided the 50 finalists into five categories: cleantech and environment, life science and medtech, mobile and web, product and technology, and social entrepreneurship.
The overall winner was VesaliusMed, a medical startup from Stanford University in the US. The team came up with an innovation that allows doctors to detect abnormal cells in bladder patients through the testing of urine instead of blood.