cybereum

Transforming Capital Project Management
Austin

About cybereum

Cybereum is a cutting-edge technology startup that specializes in revolutionizing project management for complex, capital-intensive projects. The company is dedicated to addressing the challenges associated with cost overruns, scheduling delays, and inefficiencies that plague large-scale construction and infrastructure development projects. Cybereum's innovative approach combines blockchain technology, artificial intelligence, and data analytics to create a powerful project management platform that enhances transparency, accountability, and collaboration across all stakeholders.

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Problem statement

Cybereum is addressing a significant problem in project management, particularly for complex capital projects. The problem it aims to solve can be summarized as follows:
Problem: High and chronic Cost Overruns, Schedule Delays, and Inefficiencies in the multi-trillion USD Capital Projects sector.
Cost Overruns: Capital projects, such as construction, infrastructure development, and engineering endeavors, frequently experience cost overruns. These overruns can be substantial, leading to financial strain and sometimes project abandonment.
Schedule Delays: Projects often fail to meet their deadlines due to mismanagement, unforeseen obstacles, and stakeholder coordination issues. These delays can escalate costs and hinder project success.
Lack of Accountability: Traditional project management approaches need more transparency, making holding stakeholders accountable for their roles and responsibilities challenging. This lack of accountability can result in disputes and project setbacks.
Inefficient Data Management: Many projects involve multiple participants from various organizations, making it difficult to synchronize data, schedules, and contractual obligations. This inefficiency can lead to miscommunication and costly errors.
Limited Collaboration: Siloed project management practices hinder collaboration between different parties involved in a project, including contractors, suppliers, and project owners.
Inadequate Forecasting: Traditional project management lacks sophisticated tools for accurate forecasting. Project planners struggle to anticipate potential challenges, allocate resources efficiently, and make informed decisions without precise forecasting, contributing to cost overruns and schedule delays.
Market Opportunity:
Construction projects account for more than 10 Trillion in annual spending and lose more than 1 Trillion due to inadequate digitization. Megaprojects account for 5-8% of Global GDP and the average capital project loses 1.2 billion. There is a vast market opportunity to address these problems. It focuses on providing innovative solutions to streamline project management, enhance transparency, and enable collaboration across organizational boundaries. The market opportunity includes industries that heavily rely on capital projects, such as construction, engineering, infrastructure development, and more. The potential impact is not only financial but also extends to improved project delivery, resource allocation, and overall industry efficiency.
Cybereum's goal is to empower organizations to complete projects on time, within budget, and with greater accountability, ultimately transforming how complex projects are planned, executed, and delivered.

Traction information

2 Granted Patents for our Technology
Multiple peer-reviewed papers about our technology in leading journals in the field.
NSF SBIR Grant - awarded after rigorous determination of the transformative nature and broader impact of our technology.
Several LOIs with user companies.
Ongoing meetings with some of the largest construction and defence companies in the world.
Capital Factory Austing portfolio company

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Milestones

October 2022

NSF I-Corps

Received a NSF I-Corps Grant supplementary to our previous grant for customer discovery and engagement. The three categories that we have discovered, aided by our earlier SBIR “Beat the Odds” bootcamp are: financiers such as Banks, multilateral lending agencies and governments who fund projects, promoters such as Energy Majors and Infrastructure Developers who plan, own and operate them, and major contractors who are contracted to build and deliver them. This grant allows for deeper and broader engagement with these stakeholders, to refine value propositions, pricing models and also to validate our beachhead markets in Energy, Renewables and Government (DoD, DoT)

May 2022

NSF Grant

The NSF Phase I SBIR Grant is meant to be the equity-free seed for companies developing transformative technologies with broad impact

March 2022

cybereum trademark graded by USPTO

We on the Trademark for cybereum

January 2022

Architecture Patent Granted by the USPTO

This patent covers the distributed governance system for complex cross-organizational projects using blockchain technology and smart contracts.

January 2022

Peer-reviewed paper on our machine learning methods for project forecasting published in the PMJ

Reference Class Forecasting and Machine Learning for Improved Offshore Oil and Gas Megaprojects Planning: Methods and Application This paper showcases our approach for machine learning and AI for forecasting in complex projects.It was published in the Project Management Journal, the leading journal in the field on their special issue for 21st century general purpose technologies (GPTs) for project management. https://journals.sagepub.com/eprint/QG73TJCSJKF9UHS7WNGB/full

July 2021

Method Patent granted

This patent is for an algorithm to convert DAG networks into hash linked blocks.

July 2021

White paper published as a peer-reviewed paper by ACM

Architecture paper peer reviewed and published by the Association of computing Machinery (ACM). Distributed Ledger Architecture for Collaborative Megaproject Management with Authenticated Participants. https://dl.acm.org/doi/fullHtml/10.1145/3460537.3460563

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Funding

Currently raising capital

Total raised to date:$500,000