Özet:
The construction industry has been unsuccessful in adopting innovative technologies compared to other industries. Construction Technology (Contech) start-ups play a vital role in the digital transformation of the sector by providing unique solutions for particular problems. Nevertheless, start-ups are small companies, and they need to be supported by investors to survive and produce their products or services. In this respect, understanding investor behavior is critical for entrepreneurs to get investments. Accordingly, this study aims to evaluate the Contech start-up environment and factors affecting Contech investors' motivation and investment level. A conceptual framework was developed through an extensive literature review and interviews with professionals. An online questionnaire was held to test the relations of factors with investment motivation and investment share. The data was collected from Contech start-up investors in several countries and analyzed by utilizing Structural Equation Modeling (SEM). The results revealed that i) investor familiarity and entrepreneur characteristics have a positive, and environmental factors have a negative influence on investor characteristics; ii) while investor characteristics have a direct and positive influence, market and product characteristics have a direct and negative impact on investment motivation; iii) investment characteristics have a direct and negative influence, and market and product characteristics have a direct and positive influence on Contech share in investor portfolio. This study contributes to the literature by investigating Contech start- ups and proposing a basis for future research. Entrepreneurs and investors in the Contech ecosystem might benefit from the results in their decision-making process.
