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Tel Aviv to house world's first construction tech hub
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Tel Aviv to house world's first construction tech hub

With hopes of revitalising an industry that has been slow to modernise, a team of Israeli government and business partners launched the world’s first “Construction Innovation Zone” on Thursday morning.

Although construction enterprises have lagged behind in implementing technological solutions on a large scale, digital innovation has lately become an increasing priority for these companies as they reconfigure their direction, according to the Tel Aviv-based startup hub SOSA (South of Salame Street). SOSA, also known as the Global Network of Tech Innovation, will be leading the effort to transform Israel into a “ConstrucTech Hub” in partnership with the Economy Ministry, the Construction Ministry and the Israel Builders Association.

“We are in a unique position to create the next ‘it’ technology field,” SOSA CEO Uzi Scheffer said in a statement ahead of Thursday’s launch. “Much like the efforts the Israeli government took to spark the auto-tech industry with grants and positive regulatory environment, our partnership will help to lay the groundwork for the fundamental disruption of the multitrillion-dollar global construction and real-estate development industry.”

While hi-tech and construction are huge industries both in Israel and around the globe, the two have thus far failed to become truly connected, Scheffer told The Jerusalem Post. The construction industry resembles many other traditional sectors, yet it confronts additional difficulties in the quest to modernise due to the fragmented nature of the building process, he said.

The partners are investing NIS 1.6 million in the venture, with NIS 800,000 coming from the Israel Builders Association, NIS 400,000 from the Economy Ministry and NIS 400,000 from the Construction Ministry.

 Click here to read the full article in Jerusalem Post

Friday, April 28, 2017
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