Why Construction Procurement Is Broken — And How StructShare Fixes It? AEC Tech Journeys With Mayur Mistry podcast

Why Construction Procurement Is Broken — And How StructShare Fixes It?

1d ago 29:59

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In this conversation, Or Lakritz, CEO and Co-founder of StructShare, shares his journey from Israel to the forefront of construction technology. He opens up about the challenges of building a startup in one of the most complex and slow-moving industries, and how resilience, strategic thinking, and deep customer understanding helped him navigate those obstacles. Or discusses the importance of building an MVP tailored to real industry pain points, hiring talent that thrives in startup environments, and adjusting sales strategies for a traditionally offline sector. He also offers practical insights into early fundraising and preparing for acquisition—highlighting both the tough lessons and unique opportunities in construction tech.

Takeaways

Or Lakritz's path began in Israel, evolving from military service into tech entrepreneurship.
The lack of standard practices in construction made it difficult to design scalable solutions.
MVP development required isolating procurement and supply chain pain points.
Customer acquisition was tough early on due to resistance toward digital adoption.
Resilience and belief in the team were crucial during challenging periods like the COVID-19 crisis.
In the beginning, startups must often do unscalable things like manual data handling.
Construction tech, while tough, offers immense opportunities for impactful innovation.
Hiring must align with both startup dynamics and construction-specific knowledge.
Sales strategies need to reflect how construction professionals actually work and buy.
Fundraising success depends on building a compelling story and deeply knowing your market.

Chapters

00:00 – Introduction and Background

01:40 – Journey into Entrepreneurship

04:49 – Challenges in the Construction Tech Industry

07:04 – Proudest Moments and Strategic Partnerships

08:21 – Lessons from Early-Stage Startups

09:56 – Hiring and Team Distribution Strategies

15:23 – Sales Strategies in Construction Tech

20:53 – Fundraising Insights and Strategies

24:09 – Opportunities in Construction Tech

26:59 – Acquisition Insights and Future Considerations

28:13 – Rapid Fire Round and Closing Thoughts

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