Ones to Watch in 2023
After a tumultuous and challenging end to 2022, we look forward at 2023 with optimism as the dust settles and the grey clouds part across the global economy. As with all challenging economic times, they often reveal some of the most resilient, innovative and inspiring businesses of the future. Here, we explore five businesses across industrial & manufacturing, real estate, investment and the built environment technology space to keep an eye on in 2023.
CRH Plc
CRH, founded in Ireland in the 1970s, is one of the world’s largest building materials producers and suppliers and has a global reach. The business manufactures a wide range of building materials including cement, concrete products, aggregates, architectural products and many others. Beaumont Bailey Co-Founder & Director – Industrial & Manufacturing, James Pope, thinks “CRH will become a driving force in the development of new construction technologies and innovations with the development of a $250million venture capital unit.”
Imerso
Imerso, founded in 2015, offers a platform for automating quality control and monitoring with the help of artificial intelligence, reality Capture and Building Information Modelling (BIM) technologies. Imerso makes use of industrial-grade 3D scanners directly on the construction. These scanners capture the as-built condition throughout the construction phase generating point clouds that accurately capture a room, building or floor. Imerso’s cloud platform automatically analyses this data and compares it with the BIM model. This allows deviations or problems to be highlighted in real-time – and changes can be made before they jeopardise the progress of a project. “Operating within a high-growth construction tech area, the team took on new funding in 2021/22 to scale and will have spent 2022 building out an elite team. One to watch for continued growth and international expansion,” says Co-Founder & Director – Technology, George Dobbins.
InnDex
innDex is an end-to-end digital workforce management platform for construction. It enhances productivity by allowing workers to arrive on site, pre-enrolled, already familiar with the project, and ready to be briefed. innDex also provides a clear communication channel between teams by keeping them connected and updated in real-time from anywhere, at any time. “2023 looks like a really exciting year for all of our members, with the ConTech and PropTech spaces continuing to produce some of the most innovative global start-ups and industry solutions. Construction Tech company, innDex, look like one to watch for the year. Their solutions were utilised on more than 400 projects across 8 countries last year; I’m sure 2023 will see continued growth,” noted Aidan Lewis, Head of BETA.
Goodstone Living
Macquarie Asset Management has established Goodstone Living, a specialist real estate development and investment management business, to capitalise on a significant market opportunity in the United Kingdom’s purpose-built rental housing sector. It will focus on the development and long-term ownership of rental communities in urban locations, benefiting from a growing demand for rental housing and an undersupply of high-quality accommodation. The business intends to build a market-leading portfolio of scale, with Macquarie Asset Management leveraging its platform experience to support Goodstone Living’s initial development programme. “Goodstone has the scope to become the largest Private Rented Sector (PRS) business in the UK over the coming years, certainly one to keep a keen eye on in 2023,” says Elliot Course, Director – Development.
LifeSight
LifeSight is Willis Towers Watson’s master trust, a defined contribution multi-employer pension trust for employers who would benefit from high-quality, low-risk, market-competitive pension provision without the governance burden. “The business has seen rapid growth and is now under a new look leadership team led by Managing Director Jelena Croad. LifeSight is a market leading master trust business, well positioned to gain more market share in 2023 with their innovative approach, digital consumer interface and robust governance.
“Parent company Willis Towers Watson are also one to watch with their move into the intermediary market through partnerships with Alliance Trust and Atomos,” says Amanda Floyd, Director – Investment.
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