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Institutional misalignments between construction technology and venture capital
Alexander N. Walzer (ETH Zürich, Zurich University of Applied Science (ZHAW))
Tan Tan (The University of Hong Kong)
Konrad Graser (Zurich University of Applied Science (ZHAW))
Daniel M. Hall (Design & Construction Management)
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Abstract
Despite substantial investments into new technologies, the adoption of systemic innovations such as construction robotics remains limited. Therefore, this study investigates the discrepancy between the assumed advantages of construction technologies and their actual performance during practical implementation, using construction robotics as the empirical case. Through an abductive thematic analysis of 127 interviews across Europe and North America, we identify six enablers of institutional misalignment: cognitive frame differences, divergent time horizons, conflicting market strategies, product versus revenue focus, varying risk tolerances, and information asymmetry. These misalignments between startup founders’ technological logic and investors’ economic logic constrain adoption, emphasizing the influence of institutional dynamics over technological feasibility. Our findings suggest these challenges are not unique to construction robotics but may extend to other emerging construction technologies. This highlights the critical need for aligning institutional logics to fully harness the potential of innovation in construction.
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