07.02.2022 – 09:45
Bain & Company
Munich/Frankfurt am Main (ots)
The construction industry is currently experiencing a real boom. And the signs continue to point to growth. The reasons for this are progressive urbanization and efforts to reduce CO2 emissions more quickly in all areas of the economy. But while new buildings are becoming increasingly climate-neutral, the construction industry has a number of challenges to overcome. The construction sector is responsible for a third of global greenhouse gas emissions and for up to 52 percent of all waste in Germany. The industry also has a significant need for improvement in terms of digitization. Various complex IT systems usually have to correspond with each other during a construction project, which significantly increases the cyber risk and minimizes efficiency.
19 young international talents, who were selected from the applications of around 250 individuals and around a dozen early-stage start-ups, are dealing with these and other topics in the eighth project round of the Sustainability initiative “The Mission”. Under the motto “Construction”, the participants will develop innovative and sustainable concepts and solutions for the construction industry together with companies from business and science over the next three months.
The Mission was launched in 2019 by the international management consultancy Bain & Company together with the start-up and innovation platform Futury, Deutsche Bank, the Handelsblatt Media Group and the recycling company PreZero. The topics of the previous three-month project rounds were “Waste – Be Circular!”, “Banking – Be Green!”, “Sports – Be Sustainable!”, “Work – Be Next!”, “Mobility – Be Urban!”, ” Energy – Be Empowered!” and “Transformation – Be Sustainable!”.
Looking for innovative concepts and solutions
Divided into six teams, the talented people from different disciplines develop approaches for a more sustainable construction sector. The first group deals with insulation materials based on natural fibers from regional organic waste. The second team is working on a concept for sustainable and scalable building renovation using a software-based, modular system. The third group focuses on a platform solution that supports construction companies in incorporating environmental data into decision-making, financial and risk management. The fourth team is working on the automated recording of the CO2 footprint in order to enable emissions to be offset along the value chain. The fifth group focuses on how the construction industry can become more efficient through the use of various digital tools. The sixth team, in turn, is developing a modern, multifunctional warehouse.
The talents receive help from experienced corporate partners. In this round, they include GOLDBECK and Knauf as premium partners, as well as HubOne, the City of Munich, Schüco, Viega, Teckentrupp, Wisag and Techem. Additional support comes from Osborne Clarke, the Potsdam Institute for Climate Impact Research (PIK), efs.ai, Futury Capital and Futurist. Through the intensive cooperation with the companies involved, the participants gain deep insights into the construction industry and can benefit directly from the experience of the experts. In addition, the teams are supported by Bain consultants as coaches throughout the entire project round. The digital experts are also out at the workshops on design thinking and user research Bains Advanced Digital and Product Team (ADAPT) represented.
Numerous challenges, diverse opportunities
“The construction industry is growing,” emphasizes Bain Germany boss Walter Sinn, one of the co-initiators of the initiative. “But in view of the increased focus on climate neutrality and energy efficiency, not only are the challenges increasing, but construction companies are also struggling with tight supply chains, increased material costs and a shortage of skilled workers.” And he continues: “This project round offers start-ups in the early phase a wide range of opportunities to make a decisive contribution to the sustainability of this industry.”
As part of The Mission, founders and those interested in founding a company have been working on various future-oriented topics for some time. The selection of topics is based on the 17 Sustainable Development Goals of the United Nations. The initiative is proving successful: Some teams are pursuing their ideas after the three-month project period and founding their own start-up, such as Recyda, which is from the first mission “Waste – Be Circular!” has arisen.
Bain & Company
Bain & Company is a leading international management consultancy that supports executives in decision-making positions worldwide in shaping the future. With our 63 offices in 38 countries, we are in close proximity to our client companies. We work with them to outperform the competition and set new standards in their respective industries. Partnerships from our ecosystem of digital innovators complement our expertise and ensure that we achieve better, faster and more sustainable results for our clients. In the next ten years we will invest more than one billion US dollars in pro bono projects worldwide. We support organizations that face the current challenges in the areas of education, environment and economic development and are committed to equality in every respect. We have been awarded the gold medal by EcoVadis, the leading platform for environmental, social and ethical performance assessments for global supply chains. This puts us among the top 2 percent of the audited consulting firms. Since our founding in 1973, we have measured our success by the success of our client companies and are proud to have the highest recommendation rate in the consulting industry.
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