My construction machine is your construction machine - marketing construction machines.

Construction machinery costs a lot of money and are idle most of the time - so why not rent them out in the meantime? At the University of Bremen, a concept has been developed on how to market unused construction machinery: through a new online rental platform. As part of their studies, Manuel Kimanov and Revazi Chikviladze were tasked by their professor to develop new business models within the so-called "Share Economy." Professor Sven Voelpel, who teaches business administration and innovation at Jacobs University Bremen, is well-versed in the Share Economy. During their research, the two students found that construction machinery at construction companies is only utilized about half of the time, either because there are no current orders to fulfill or because the machinery and equipment are only needed for specific tasks. Tower cranes, for example, are said to be unused up to 75% of the time. The idea: Market unused construction machinery The professor and his students want to consolidate this unused potential on an internet-based rental platform and offer it for rent to other construction companies. For the owners or renters of construction machinery or equipment, renting out provides an additional source of income, while for the users, it offers a cost-effective rental option. The machinery available on the rental platform can be offered at lower prices because they do not need to be purchased, as they are already owned by the construction companies, according to Professor Voelpel. "It's a classic win-win situation," says Prof. Voelpel, who encouraged the two students to turn the idea into a business concept. The new company is called Sharemac, and Voelpel wants to support it as the Chairman of the Board. Professor Voelpel became aware of the two students because they are among the top students in his courses. The 23-year-old Bulgarian Kimanov, a former well-known basketball player in his home country, was responsible for formulating the business plan that convinced potential investors. On the other hand, the 19-year-old Revazi Chikviladze from Georgia, who has previous experience with construction machinery rental, is considered one of the best in the study program. Apart from his passion as a drummer, he has developed an interest in construction machinery, which benefits him in categorizing the machinery and building the construction machinery database. Distinguished personalities on the advisory board Voelpel has also secured the collaboration of computer specialist Ben Kebdani and psychologist Jörg Schumann. Arne Stehnken is responsible for finances, also working as a financial advisor for Deutsche Bank. He managed to secure the initial investors, giving Sharemac a quick start. Notable figures like Prof. Dr.-Ing. Thomas Bauer from Bauer AG Schrobenhausen and Dr. jur. Wolfgang Bayer, Managing Director of the Construction Industry Association of Lower Saxony-Bremen, are active advisors for Sharemac. Additionally, network specialist Prof. Dr. oec. Julia Bendul and global market specialist Prof. Dr. Tilo Halaszovich are involved. Sharemac has sponsorship from Ströer for advertising and has Allianz as their insurer. The dynamic professor for business administration and entrepreneurship has already piqued the interest of several construction companies. "Each new company that joins increases the number of machines available for rent," says Voelpel. Thomas Echterhoff, managing partner of Echterhoff Bau-Gruppe based in Westerkappeln near Osnabrück, is an early supporter of the project. "I was convinced by the professionalism of the project," Echterhoff said. The exchange of construction machinery among construction companies is not uncommon, so he sees no issue with the respective company branding on the rented machinery. Echterhoff is confident that this can be solved with magnetic signs bearing the company's name. Platform set to launch in May Voelpel has already convinced associations like the Construction Industry Associations of Lower Saxony and Bremen, as well as Bavaria, of his idea. To finance their GmbH, the stakeholders have secured venture capital and aim to seek financial support from Europe. However, before the platform goes live in May, there is still much to be done. Currently, a team is working diligently on the online registration of construction machinery based on the construction equipment list. The system will later provide information on the condition of the machines. Through tracking sensors, the devices' location can be monitored at all times, providing protection against theft. Transport and insurance of the rented machinery and equipment are ensured. In case of repairs, the owner will decide what to do. The goal is to have a unified database. The company plans to launch in May of this year initially in Bremen and Lower Saxony. "We hope to benefit from being a first mover and aim to play a leading role in digitization and the Share Economy," says Professor Voelpel.