Mindanao-based AI construction startup AIMHI recently won the E3 Chairman Recognition Award 2023 at an awards ceremony held last December 2 at KL Wellness City, Kuala Lumpur, Malaysia.
The awards ceremony was hosted by entrepreneur development organization E3Hubs, which works with entrepreneurs in Asia to grow and upscale their businesses. Over nearly two decades, E3Hubs has so far worked with over 7,000 startups and SMEs across the continent.
at the awards ceremony but also Filipino startups as a whole.
The E3 Chairman Recognition Award celebrates the outstanding accomplishments of entrepreneurs and startups in their respective fields, and, with only ten recipients annually, the startup awardees are personally chosen by E3 Chairman Andrew Wong.
According to Chairman Wong, AIMHI was chosen for its innovative properties in an industry crucial to Asian economic development. “The construction industry will always be an important growth driver in developing Asian economies. And it is also a very traditional industry with low levels of digitalization. AIMHI is standing on the cusps of the digitalization and AI era,” Wong said.
Founded in 2019 by Cherryanne Lee Angoy, Monica Turrecha, and Atty. Ma. Janice Tejano; AIMHI is a construction profit management company that utilizes AI to address enduring challenges in construction projects, including delays, exceeding budgets, and falling below profit margins. Previously, AIMHI was the only Mindanao-based startup to receive a P4.3 million financial grant from DOST-PCIEERD.
AIMHI’s rise coincides with marked growth in the Philippine construction industry. The Philippine Statistics Authority (PSA) shows that the Philippine construction industry’s total gross fixed capital formation rose by 10.8% in Q3 2022 and 2023, reaching an all-time high of 926602.34 PHP Million in the second quarter of 2023.
Angoy emphasized the industry’s requirement for digital transformation, providing an accessible entry point for small and medium-sized construction companies that may find construction technologies like building information modeling inaccessible.
“This is not just about making an impact in our own construction business. It’s improving the lives of the people in the construction industry in our country,” said Angoy. “Increase profitability and, in return, give them more chance of business continuity and being able to compete.”
Angonoy concluded by expressing her gratitude and dedicating the award to the hardworking team that made AIMHI’s accomplishments possible.
“This award is for our hardworking team. They are very passionate about bringing our vision to life. We dedicate this award to the Filipino people. This is para sa bayan, mabuhay ang Pinoy innovation!” Angoy said.