The construction materials producer has formed an open innovation and venture investment unit and will launch a startup competition later this month.
Mexico-based building materials provider Cemex launched a corporate venturing vehicle called Cemex Ventures on Wednesday to invest in innovative construction technology.
Cemex Ventures will be based in Spain and will act as an open innovation and venture capital unit, investing in technologies in adjacent areas to its parent company’s core business and providing accelerator and incubator services for earlier-stage technology.
The unit will be headed by Gonzalo Galindo, president of US East Operations for Cemex.
Specific targets for the fund…
