The world around us is constantly changing and presenting new challenges. Inflation, talent shortages, profit margins under pressure, and climate change are just a few of the challenges we observe. We prefer to call them opportunities. To thrive in this ever-evolving landscape, we cannot afford to stay stagnant. We must evolve, and luckily, our 110+ year-old group has the critical size and expertise to do so.
Recognizing this need to adapt and explore new avenues, we have decided to explore new business opportunities, next to the established business units Contracting, Real Estate and Concessions & Assets, under the leadership of Thomas Vandenbergh, via BESIX Technology.
Why?
The exploration of new business potential centred on diversification is driven by a multitude of compelling reasons. Firstly, it allows us to attract and retain top talents in the group by offering a broader range of career options. This initiative also contributes to industry transformation by embracing new technologies and innovative solutions, positioning us ahead of the curve. Our commitment to sustainability plays a pivotal role as well. Diversification allows us to actively support environmentally and socially friendly practices and contribute to a greener future. By exploring new avenues and investing in sustainable technologies, we align ourselves with the global movement towards a more sustainable and responsible business environment. Additionally, diversification provides us with access to new technologies and intellectual property, enhancing our operations and giving us a competitive edge. Finally, it enables us to generate diversified revenue streams, based on new business models, ensuring long-term financial stability and growth. Through this strategic move, we position ourselves for sustainable growth in a rapidly changing business landscape.
How?
So, where is BESIX Technology focusing its diversification efforts? The answer lies in PropTech and ConTech. PropTech, short for Property Technology, encompasses innovative solutions that transform the way we transact, finance, design, build, operate and manage our projects. ConTech, or Construction Technology, is a part of Proptech and revolutionizes construction processes, making them more efficient, sustainable, and cost-effective. By diversifying into PropTech and ConTech, we position ourselves at the forefront of technological advancements in our industry. This strategic move will enhance our competitiveness, improve our offerings, and open doors to new revenue streams.
To realize this diversification strategy, we pursue two key approaches. Firstly, we reinforce our support of the seven PropTech & ConTech start-ups in which our group acquired equity stakes over the last years (Neanex, Litobox, BuildUp, Conneqtr, Circl, SquareSense and aug·e). With a clear vision and enhanced governance, we will provide the necessary strategical and operational added value and guidance to drive their success. This focused approach will maximize their potential and ensure they align with our overall strategic direction.
Secondly, we have recently invested in two Venture Capital (VC) funds specialising in PropTech and ConTech. This investment will allow us to leverage the expertise and market knowledge of seasoned investors in these fields. It also provides us with access to a wider range of start-ups and technologies, increasing our opportunities for sustainable growth and innovation. The two funds are Rise PropTech Fund, a Belgium-based hands-on VC fund active in the PropTech sector, and PT1 – PropTech1 Ventures (Berlin and London), a pan-European VC fund platform investing in transformative real estate technologies. These investments will establish a strong foundation for our portfolio. Our objective for 2027 is to grow and manage a portfolio of 10+ start-ups, ensuring that each investment aligns with our strategic goals and contributes to the development of our entities.
Looking ahead
Our decision to pursue diversification in PropTech and ConTech is the logical outcome of our innovation journey, which began in 2016 with our ‘Unleash’ program of intrapreneurship. Since then, we have embarked on an open innovation journey and made direct investments in promising ventures. These experiences have provided us with invaluable insights and guidance, shaping our portfolio management and investment strategies in innovation.
Looking ahead, our next steps are clear. But we cannot achieve this vision alone. We need your input and collaboration. We encourage each of you to reflect on your department’s or entity's vision for 2027 and the technologies that can propel us toward that future. Your valuable insights will help guide our investment choices and steer the BESIX Technology portfolio in the most effective direction, and open doors for future sharing of expertise and networks between start-ups and our group.
Let us work together to shape the future of our company and create a thriving ecosystem that drives innovation, sustainable growth, and success. By embracing diversification and investing in the future, we can build a stronger, more resilient organisation that continues to lead the way in our industry.
Thank you for your commitment and dedication to our shared success... and bear with us as we’ll come back regularly in our internal channels about this exciting topic, sharing insights about our start-ups and news about progress around innovation and technology!
Pierre Sironval
CEO BESIX Group