The magazine AECMAGAZINE, dedicated to the AECO sector, has published a very interesting article on the absence of unicorns in the world of construction. An analysis that puts on the table a question that many of us have been asking ourselves for some time: how is it possible that a sector that moves nearly 14 trillion dollars every year has not yet given rise to a startup valued at more than a billion dollars?

Recently, we have seen multi-million dollar investments in ConTech startups with the mission of digitizing a sector traditionally slow to adopt technology. But, unlike other areas where startups grow at an exponential rate and conquer global markets in a matter of months, here the big “boom” has not yet arrived.

Why? Construction doesn’t work or fit into “traditional” software models. While in the tech world startups can scale quickly thanks to SaaS models and global communities, construction is still dominated by large companies, deeply rooted processes, and a culture where experience, solvency, and the ability to execute long and complex projects matter. This reality clashes with the logic of “grow fast and break things” typical of the startup ecosystem.

Additionally, many investors come from the software world, where they look for clear metrics, accelerated growth, and recurring models. However, in construction, deadlines are measured in years, sales cycles are long, and returns are not always immediate. This difference in mindset creates a gap between what an investor expects and what a ConTech startup can actually offer.

Added to this is the common confusion between ConTech (technology that transforms construction processes) and tech for construction (digital tools applied to the construction site, but without modifying the fund model). Most investors tend to bet on the second group, which is more scalable and has fewer risks, while truly transformative solutions are left in the background, without the necessary momentum to gain traction.

ConTech startups also face very specific barriers: a small mistake can translate into millions in losses or critical delays in the work, and although the sector is huge, the market for very niche solutions remains limited and dominated by giants such as PROCORE, Autodesk or Nemetschek. Replacing existing tools is almost impossible, so the key is to integrate without friction and provide immediate value. Many solutions require a hybrid model that combines technology and service, which further complicates scalability. If we add to this that projects take years to complete and that many tools are born to solve very specific problems of each founder, without thinking about a broad market need, the difficulty of scaling multiplies.

Is there hope? Absolutely. The potential remains enormous. Construction is a stable sector, and if a solution works, the possibility of scaling globally is real. The key is to develop products that are easy to implement, with simple onboarding and tangible benefits from day one. In addition, the emergence of AI and automation is opening new doors: it is becoming easier and easier to design and adapt digital tools that help work better and faster, and this could accelerate the arrival of the first ConTech unicorn.

Although we haven’t seen it yet, we are closer than ever. If startups manage to adapt to the logic and times of the sector and investors understand that transformation here doesn’t happen overnight, the change will be unstoppable.

At Barcelona ConTech Hub we firmly believe that this moment is coming, and we want to accompany and push the entire ecosystem so that construction finally becomes fertile ground for the next unicorns.