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Angel Daniel Ricchiuti

His real estate remodeling platform boosts income for renovation and maintenance workers.

Year Honored
2023

Organization
Milusos

Region
Latin America

Hails From
Venezuela

The building sector is responsible for about 37% of global CO2 emissions, according to a recent report by the Global Alliance for Buildings and Construction and Yale University's Center for Ecosystems + Architecture. Remodeling homes to adapt to the climate crisis and make them more energy efficient is essential to address global warming, as well as saving money. But in Latin America, the construction and renovation sector is highly decentralized and has high rates of informality.

Fortunately, technology can help alleviate this problem, as Venezuelan innovator Ángel Daniel Ricchiuti (26) demonstrates. This mechatronics engineer, a graduate of the Tecnológico de Monterrey, details the challenge in this labor environment, "The average worker is very badly treated in terms of salary and benefits. Nobody checks if they have insurance or credit history. We have a high potential in the workforce, but that talent is overshadowed by informality." Specifically in Mexico, more than half of the active population works in informal labor conditions, according to data from the latest National Occupation and Employment Survey.

With the aim of increasing the income of construction and renovation workers, giving greater confidence and better services to those who hire them, reducing families' electricity bills and mitigating the climate crisis, Ricchiuti has created the Milusos app. Its platform connects people in the remodeling and construction industry with those who need to renovate their homes, and also offers the latter credit and insurance. For this initiative, Ricchiuti has been named by MIT Technology Review in Spanish as one of the Innovators under 35 Latin America 2023.

Ricchiuti says his initiative allows 60% of the workers on the platform to "earn 1.6 times more than the average in Mexico, about 8,000 euros a year in total." His software gives greater financial freedom to electricians, plumbers, bricklayers, locksmiths and other professionals in precarious trades. With the Milusos app technology, "all service providers work within five kilometers of their homes, helping to preserve the environment, and saving them a lot of time in traffic. With this proximity, we help them work more and get paid better," adds Ricchiuti. In addition, for those who hire services through the platform, Milusos app allows them to request an instant quote and connect with a certified partner through its artificial intelligence-enhanced search engine. "With the more than 30,000 remodels the platform has performed, the model can predict and analyze the data to give accurate estimates for any repair," Ricchiuti recounts.

The young engineer's plans for the company are to grow in Mexico's large cities, thus helping to increase the income of professionals, improve the customer experience and, as a whole, reduce the environmental impact of the construction sector.