For many entrepreneurial engineers, failure is part of the business. Forbes estimates that 90 percent of startups fail, many of them before the business even has the chance to fully launch. While failure before success often comes with the building of oneself as an entrepreneur, smart engineering entrepreneurs have used business accelerators to help get their ideas off the ground.
In this edition of ASCE Interchange, Gregory Sauter, P.E., M.ASCE, founder, Smart City Works, discusses how a business accelerator can help with launching an innovation and what differentiates a smart idea from a market-ready idea.
“One of the things that an accelerator focuses on is making sure you really understand the problem that needs to be solved,” said Sauter. “That you have real markets identified and customers identified who are ready to take in that product. That you have something that’s scalable, and you’ve got something folks are ready to invest in.”
He also explains the difference between a business actuator and a business incubator and speaks about testing infrastructure ideas in real-world situations.
ASCE Interchange is brought to you by Contech Engineered Solutions, a leading provider of site solutions for the civil engineering industry. Contech’s portfolio includes bridges, drainage, erosion control, retaining wall, sanitary, stormwater, and wastewater treatment products. For more info, visit www.ContechES.com or call 800-338-1122.