New tech accelerator seeks to boost startups in construction sector

Israeli workspace sharing firm OpenValley and Israeli construction company Stern Engineering Ltd. have set up a joint accelerator program to foster startups in the construction technology sector.

The construction sector in Israel accounts for 10 percent of Israel’s GDP and is valued at around NIS 90 billion ($26 billion), the two firms said in a statement on Tuesday. The industry globally suffers from challenges including workplace accidents, faulty construction and delays in project delivery, and technology has the chance to help bring new solutions to the field, the statement said.