CEMEX launches startup accelerator to strengthen its open innovation approach - CEMEX launches startup accelerator to strengthen its open innovation approach
November 1, 2022
CEMEX, S.A.B. de C.V. (“CEMEX”) and CEMEX Ventures, CEMEX’s corporate venture capital and open innovation unit, announced the launch of CEMEX Ventures Leaplab, an intensive acceleration program for innovative startups that address the critical challenges of the construction industry.
Leaplab leverages CEMEX’s facilities, expertise, and resources to help promising startups in the construction technology (Contech) entrepreneurial ecosystem validate and accelerate their value propositions. In its inaugural edition, Leaplab will connect a cohort of startups with CEMEX business units in six countries for an intensive 14-week program supported by close to 100 experts providing mentorship and real-world experience.
“CEMEX Ventures Leaplab is the next step in the evolution of our open innovation strategy,” says Luis Hernández, CEMEX Executive Vice President of Digital and Organization Development. “The intensive acceleration program perfectly complements our open innovation strategy by giving us earlier access to high-potential Contech startups. By collaborating to test promising value propositions, emerging technologies, and new business models, we are better positioned to continue working with and investing in potential industry disruptors. Innovation is and will remain at the core of everything we do at CEMEX.”
CEMEX Ventures Leaplab will focus on startups that are addressing challenges related to four focus areas: Green Construction, Enhanced Productivity, Construction Supply Chain, and Future of Construction. Piloting, testing, and scaling in the construction industry can be costly and time consuming. Barriers to entry can stunt promising ideas before they have a chance to prove their value. Leaplab is looking to avoid these pitfalls by connecting young startups with CEMEX’s experts and facilities. The startups will have quick validation of their business models while CEMEX remains at the cutting edge of innovation in the Contech space.
CEMEX Ventures is a key part of CEMEX’s Digital Innovation in Motion ecosystem, which combines core and open innovation to propel the construction industry in commercial, manufacturing, and back-office practices. Through CEMEX Ventures, CEMEX has invested in some of the most promising companies and technologies in the industry, particularly those contributing to its Future in Action commitment to become a net-zero CO2 company by 2050.
CEMEX (NYSE: CX) is a global construction materials company that is building a better future through sustainable products and solutions. CEMEX is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. CEMEX is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the use of new technologies. CEMEX offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience, enabled by digital technologies. For more information, please visit: www.cemex.com.
About CEMEX Ventures
Launched in 2017, CEMEX Ventures focuses on helping to solve the main challenges and capitalize on the opportunity areas in the construction ecosystem through sustainable solutions. CEMEX Ventures has created an open and collaborative platform to lead the revolution of the construction industry by engaging startups, entrepreneurs, universities, and other relevant actors to tackle the industry's toughest challenges and shape tomorrow's value ecosystem. For more information about CEMEX Ventures, please visit www.cemexventures.com.
CEMEX assumes no obligation to update or correct the information contained in this press release. This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. CEMEX intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These forward-looking statements reflect CEMEX’s current expectations and projections about future events based on CEMEX’s knowledge of present facts and circumstances and assumptions about future events, as well as CEMEX’s current plans based on such facts and circumstances. These statements necessarily involve risks and uncertainties that could cause actual results to differ materially from CEMEX’s expectations. The content of this press release is for informational purposes only, and you should not construe any such information or other material as legal, tax, investment, financial, or other advice. CEMEX is not responsible for the content of any third-party website or webpage referenced to or accessible through this press release.
Analyst and Investor Relations
Alfredo Garza / Fabián Orta