Co-development Program to Accelerate Infrastructure Engineering Software Startups Focused on Infrastructure IoT Solutions
EXTON, Pa. – Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today announced the launch of iTwin Activate, a 20 week co-development program designed to accelerate early-stage startups in infrastructure engineering software. The program, which is organized in cohorts aligned to industry sectors, is managed by Bentley iTwin Ventures, a $100 million corporate venture capital fund that fosters innovation by co-investing in startups and emerging companies.
The iTwin Activate program supports startups in scoping and building industry relevant solutions by leveraging or interoperating with Bentley technology through program and co-development funding, solutions architecture support, and access to Bentley executives for commercial insights. Tom Kurke, Bentley’s Vice President of iTwin Ventures, said, “Our first cohort was a small, invitation-only group of four startups focused on the electric grid industry. We were excited to see the innovative solutions that the startups built incorporating our technology. The projects serve as powerful examples of new capabilities that arise from these collaborations, and in some cases we are already seeing our shared users benefit from these new tools and the efficiencies they unlock.”
iTwin Activate Cohort #1 – Grid supported four startups: Spatial Data.AI, Virtual Technology Simplified, Rebase Energy, and SurPlus Maps.
Spatial Data AI’s solution automates the processing of LiDAR data from point clouds into ready-to-use vector formats, including SPIDAcalc models and various other CAD formats. This project focused on building a connector to Bentley’s pole analysis solution (SPIDAcalc). Spatial Data founder Doug Culbert said, “Participating in the iTwin Activate program supported the automated development of a design-centric digital twin for electrical distribution and telecommunications companies. The outcome of this initiative advanced our technical solution and expanded our service offerings in these markets. Spatial Data would like to thank the Bentley team for this accelerator program and is excited to continue co-developing products and services, enabling digital transformations across the infrastructure sector.”
Virtual Technology Simplified (VTS) enables tablet and phone data capture of utility assets and developed a data mobility and visualization solution on the iTwin Platform. John Chwalibog, founder and CEO of VTS, said, “For us at VTS, two things particularly jumped out. One was that the VTS development team had access to Bentley’s team of SME’s who could help us identify problems and collaborate with us to find solutions to any technical issues that came up throughout the project. Second was the team of people that came together over the course of the cohort. They were able to address the challenges all startups face when going from startup to funded company. We would highly recommend the program to other startups in the geospatial community as the experience was extremely positive for the entire VTS team.”
iTwin Activate Cohort #2 will focus on solutions for Infrastructure Internet of Things (IIoT) use cases and is open for all interested parties to apply. Cory Baldwin, Bentley’s Vice President of Infrastructure IoT, described his goals for this cohort. “We are excited to work with startups in the IoT space and build technology and partnerships together to solve the needs of the infrastructure sector. We are particularly interested in working with teams focused on creating predictive analytics or deriving insights from the sensor data federated in the iTwin Platform, as well as those creating novel sensors or sensing technologies that can be brought into our digital twin ecosystem as part of a software-led motion.”
If you are a team building infrastructure IoT solutions and would like to be considered for participation in the iTwin Activate Cohort #2. Applications will be open through June 16, 2023, and we anticipate notifying participants of their application status by June 23, 2023. We expect to announce iTwin Activate Cohort #3, focusing on generative artificial intelligence for infrastructure use cases, in summer of 2023.
About Bentley Systems:
Bentley Systems (Nasdaq: BSY) is the infrastructure engineering software company. We provide innovative software to advance the world’s infrastructure – sustaining both the global economy and environment. Our industry-leading software solutions are used by professionals, and organizations of every size, for the design, construction, and operations of roads and bridges, rail and transit, water and wastewater, public works and utilities, buildings and campuses, mining, and industrial facilities. Our offerings, powered by the iTwin Platform for infrastructure digital twins, include MicroStation and Bentley Open applications for modeling and simulation, Seequent’s software for geoprofessionals, and Bentley Infrastructure Cloud encompassing ProjectWise for project delivery, SYNCHRO for construction management, and AssetWise for asset operations. Bentley Systems’ 5,000 colleagues generate annual revenues of more than $1 billion in 194 countries.