Parsons Corporation Joins Smart City Works Venture Studio as a Founding Member
Washington, D.C. – June 14, 2022; Smart City Works Venture Studios (SCWVS) today announced that Parsons Corporation (NYSE:PSN) is joining the Smart City Works Venture Studio as a “Disruptor” Member, adding to the growing list of members engaging with the Studio focused on the commercialization of infrastructure-focused innovation.
“We see a convergence between the imperative to revitalize and modernize our critical infrastructure and the existential imperative to enable much greater levels of sustainability and resiliency,” said Don DeLoach, Co-Founder and Managing Partner at Smart City Works Venture Studio. “Technological innovation is at the intersection of this convergence, and we are dedicated to finding the most promising solutions in these areas, then providing an experienced team of entrepreneurs as an extension of these emerging companies to help them navigate the numerous execution risks as they strive to achieve scalable, repeatable commercialization.”
The Smart City Works Venture Studio is committed to identifying key trends and working with various alliances to find and heavily vet promising solutions focused on innovation opportunities in private, municipal, state, federal, and critical infrastructure segments.
“Parsons is on a mission to upgrade our world’s critical infrastructure, which requires delivering fast, secure, sustainable solutions to our customers across all markets,” said Ricardo Lorenzo, chief technology officer for Parsons. “As a member of Smart City Works Venture Studios, our teams will have industry-first access to emerging technologies that will help us achieve our mission and deliver the innovation at the core of all we do.”
Smart City Works Venture Studio has both Corporate and Agency members, designed to facilitate a meaningful dialog about relevant innovation to benefit the Studio’s corporations, agencies, and startups. The Disruptor level members are the top tier level, and two of the Disruptor members also participate on the Board of the Studio. Peter Torrellas, President of Connected Communities at Parsons, will also be joining the Board.
“I’ve been a member of Parsons’ Critical Infrastructure Strategic Advisory Board for over two years now and I’ve seen how Parsons, led by Chair, President and CEO Carey Smith has embraced technology and digital innovations as key elements of their solutions for improving the infrastructure of cities, states, and national governments across the globe,” said Tim McManus, Chairman of Smart City Works Venture Studios. “Peter Torrellas, President of Parsons’ Connected Communities, has advanced the collaboration and convergence between Parsons’ federal and critical infrastructure market segments over the last year and has become an industry leader and visionary in the EPC industry.”
Smart City Works Venture Studio will commence operations this summer. Parsons joins NJ TRANSIT, Urban Movement Labs, WGI Engineering, and Civic Infrastructure Collaborative in the growing list of members in the Studio with a collective focus on technology and associated innovative processes that can make a difference in how infrastructure is developed, deployed, and maintained in terms of quality, accessibility, cost, and sustainability.
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and critical infrastructure markets, with capabilities across cybersecurity, missile defense, space, C5ISR, transportation, environmental remediation, and water/wastewater treatment. Please visit Parsons.com and follow us on LinkedIn and Facebook to learn how we’re making an impact.
About Smart City Works Venture Studio
Smart City Works Venture Studio helps to build startups for the cyber-physical infrastructure world by providing a team of experienced entrepreneurs who have substantial experience in IoT and infrastructure, product development, business planning, customer acquisition, finance, venture capital, as well as industry-specific expertise in smart cities, construction, smart buildings, mobility, energy, and the environment. Smart City Works Venture Studio is a joint initiative between Smart City Works Venture Labs, a next-generation business accelerator focused on urban infrastructure, and Rocket Wagon Venture Studios, the parent organization that provides the architectural cyber-physical framework, including considerations regarding devices, security, privacy, data governance and ownership, communications, and a broad range of analytics, as well as shared legal and financial services, underlying operational systems, and corporate relationships.
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