November 25, 2019

Innoloft - Parametricos is the startup of week 48: web-enabled visualization applications for the construction industry

In big cities, one construction project follows another and the architects, engineers and site managers are very busy. Our startup of the week, Parametricos, has developed software that makes life easier for AECs through BIM data and general workflow improvement.

Innoloft - Parametricos is the startup of week 48: web-enabled visualization applications for the construction industry

An interview as showned on Innoloft by Lucia Walter 25.11.2019
Read the original German version here.

Image Credits: Innoloft (innoloft.com)

The construction market is booming. As the world population continues to grow, space must be created for living and working. In big cities, one construction project follows another and the architects, engineers and site managers are very busy. Our startup of the week, Parametricos, has developed software that makes life easier for AECs through BIM data and general workflow improvement. Today we talk to Marios Messios, CEO of Parametricos, to learn more about the startup.

Hello Marios! Thanks for taking the time today! Would you briefly describe what Parametricos does?
Sure. Parametricos develops the so-called Studio, a cloud solution to improve the workflow of the AEC professional in all phases of a construction project. The term AEC covers all experts in the architecture, engineering and construction industries.

Could you give us some info on the underlying technology?
Parametricos Studio is a cloud BIM+GIS asset management solution for architectural, engineering and construction professionals that improves their workflow at all stages of the building lifecycle. From planning to facility management to demolition. The Studio provides a cloud-based toolkit that securely stores and visualizes all digital assets and documentation associated with the construction project in a private account. This also includes 3D models and building information modelling. The latter refers to a 3D model with embedded data. With this approach, users can test their architectural proposals and geocoordinate their digital assets on online maps using Geographical Information System ("GIS") data.

I see. There are already some solutions for workflow improvement. What does the USP see in persuading experts in the field to use your solution?
The fast-paced working environment in the construction industry and the lack of data during a project force most architectural offices to visualize and realize a project in the shortest possible time. This practice arises in isolation, with minimal regard to the environment or community in which the project is located. The studio illustrates the importance of contextualizing a building from the earliest stages of the planning concept through construction to facility management for the remaining life of the project using geospatial data.

Our competitors bring solutions to the market that illustrate and validate the importance of BIM, but have not yet explored cloud BIM with geospatial capabilities like we do. None of our competitors offer embedded online geospatial data.

Software solutions are distributed by many companies as license models. Is that also the case for you or do you use a different business model?
That's right. We offer a basic package called "Professional" at a fixed price of 49,00 €/month, which includes access to all functions and advantages. The user can add more storage space and team members for an extra charge. Our base prices of €49.00/month win over competitors who charge an average of €63.00/month ($70). The studio, at an affordable and competitive price, scales according to the needs of the user.

Since the registration of the company, we have taken several successful initiatives to create several products and events in line with the main product, the Studio. These products work on awareness issues in our local market in Cyprus and the international market. The marketing campaigns for both products help to increase the traffic for the studio. We have developed a core account and implemented several solutions for our clients, including "find an architect".

Architectonic is another product supported by us. It is an annual hybrid event in Cyprus, in the world of start-ups and construction with foreign speakers, networking activities and exhibitions.

You just mentioned that your home market is in Cyprus. But you are also internationally active. Can you tell us more about the current market situation and your position in it?
As the future of construction is changing through building information modeling and digital acceptance, BIM's niche market is becoming increasingly powerful and profitable. According to many market research reports, BIM's market size will grow to over 11 billion US dollars by 2025.

Based on the characteristics of our product, we place our innovation in the BIM market in the Software segment, which accounts for 59% of this niche market. We therefore aim to achieve a market volume of around USD 6.49 billion by 2025.

Our target customers are professions in the architecture, engineering and construction industries in small and medium-sized enterprises.

Our pilot users are active in several BIM segments. Many of the participants in a construction project want to be involved in more efficient and cost-effective asset management by keeping their projects on time and on budget. For example, engineers and facility managers could use Geo-Location to navigate the information environment in a virtual environment that represents the real world (i.e. the surrounding buildings, bioclimatic, etc.). Architects and engineers, on the other hand, would be interested in shortening planning times, reducing on-site visits and reducing space requirements and waste of materials. With our solution, the client could make better strategic decisions during the entire life cycle of the building.

Since when you operate on the market?
On September 7, 2019, we developed and publicly launched a functional studio platform. We are currently testing and extracting feedback from hand-picked industry experts based on their expertise and application of BIM, its impact on the BIM community worldwide, and their area of work. Pilot users are using the platform on a trial basis with a pre-determined expiration date followed by our billing schedule.

Marios, unfortunately we have already arrived at the end of our interview! We thank you for the exciting insights into your company. If anyone wants to know more about Parametricos, they can have a look at the appropriate Innoloft profile or your requests.