March 2012, Issue 01

Transcription

March 2012 Issue 1
Investors
Mentors
Startups
Tech
tracking
*Gadgets you need now
*The best apps for
business
The official monthly e-zine from
All
about
the
money
Just starting up?
How to manage your
cash flow
“Make your
own fortune”
…and other great advice
from business guru
Nidal Eses
Building the
framework for
entrepreneurs in
the Middle East
From
rewarding
real estate
to the
Arabic eHow
meet some of
the companies
that have
started up
Sweet deals
Startups on the
road to success
welcome note
The Improbable Comes True in Amman: A
Royal Vision of A Leadership that “Gets It”
I
t’s with amazement and
disbelief that I look over
the past two years: so
much has happened, and
so much has happened so
quickly. Two years ago,
Oasis500 was a dream
and a vision. The name
did not exist, and many
thought that developing 500
technology startups
in Jordan is a task
more difficult than
Mission Impossible.
However, one leader
did not. Exactly two years
AD
www.
2 March 2012 www.oasis500.com
ago, we had the last of a series
of meetings with His Majesty
King Abdullah II in the Royal
Hashemite Court in Amman.
The meeting was with a group
of business leaders that HM
King Abdullah called his
“Kitchen Cabinet” – an endearing and
practical name for this group that had
no official government mission. During
the meeting, he encouraged us to “think
big” and aim for something that would
not fall short of being transformative
economically and socially. Having
identified the MENA region as a veritable
“desert” for early stage financing, we
decided to call it “Oasis”, because it is
here to help entrepreneurs cross the
“desert” by getting funding, support,
help, and acceleration. With a goal of
training, funding, and incubating 500
startups after five years of launching, we
named it Oasis500. The last words of His
Majesty were: “‫( ”على بركة اهلل‬Proceed with
Allah’s blessing), and he added, “I want
this to be a private sector effort and not
a governmental one, and I will provide
what you need to help you launch it
immediately.”
Starting with a seed capital of JD100,000
from the King Abdullah II Fund for
Development (KAFD), we assembled
a private board that then raised the
capital of the company to make sure the
majority ownership of the newly-founded
company (Oasis500) is owned by private
sector business leaders. We formulated a
plan of action, and on September 19, 2010
we launched our very first boot camp with
30 entrepreneurs participating. We also
used this initial capital to start funding
companies and to prepare for more boot
camps.
BOOT CAMP GROWTH
Within four months after
our first boot camp, we
attracted and trained almost
100 entrepreneurs: our goal
for the whole year. And by
January 2011 we invested in
over 10 startups, meeting
our goals for year one, eight
months ahead of schedule.
Having determined that the
quality of entrepreneurs
was much higher than we
had expected and that the
business ideas were more exciting, we
looked at the demand and saw nothing
but growth. Boot Camp 4 grew from 30
to 60 entrepreneurs. And since then,
our boot camps never fell below 60
participants. We also improved and
concentrated the training material and
its intensity in our boot camps, and a
year later, by September 2011 - our oneyear anniversary - we had trained 225
entrepreneurs (instead of 100) and we
had invested in 34 companies (instead
of 10). To get to these numbers, we had
interviewed and screened over 800
applicants in that first year.
OTHER SURPRISES
Our first year taught us many
unanticipated lessons about the readiness
of the environment in Jordan for
technology startups. Not only was the
demand for entrepreneurial training high,
but also local, regional, and international
Dr. Usama Fayyad
Executive Chairman,
Oasis500
Omar Al-Sharif
Marketing Manager,
Oasis500
Nauf Mawla
Marketing Officer,
Oasis500
This e-zine was created
and developed for
Oasis500 by
[email protected]
Oasis500 and Blueprint Custom Content
(BCC) regret that they cannot accept
liability for errors or omissions contained
in this publication, however caused. The
opinions and views contained in this
publication are not necessarily those
of Oasis500 or BCC. The ownership
of trademarks is acknowledged. No
part of this publication or any portion
of the contents thereof may be
reproduced, stored in a retrieval system
or transmitted in any form without the
permission of Oasis500 with the consent
of BCC.
the news Events
and happenings at
Oasis500 6
Buzzwords “Overheard”
at the office 8
In their words Nidal
Eses on life, the North
Pole and business in
Jordan 10
hot topic Managingww
your cash flow 12
Tech, please The
right gadgets for your
business 14
Apps you need now 16
feature Meet the
startups: Four fresh
businesses that are off to
a great start 18
sweet deals On the road
to sweet success 24
www.oasis500.com March 2012 3
welcome note
business leaders signed on to be
mentors at a higher pace than we
thought: we average four mentors
for each Oasis500 company.
The results of our acceleration
program, which we run during
the 100-day incubation period,
also yielded amazing results:
our companies began to attract
follow-on investments and show
healthy growth in valuation once
they graduated and participated
in our Angel Network events. We
are seeing an increase in valuation
reaching between three and 10 fold
within four to five months of our
investment in our startups. This is
much higher than the growth rate
we anticipated and represents true
investor demand for quality ideas
and quality startups to invest in.
The final surprises involve the
entrepreneurs themselves. While
we originally thought that the
majority of participants in our boot
camps would be fresh university
graduates, we have seen a wide
spectrum of participants ranging
from youth all the way to retired
individuals. The average participant
is about 30 years old with several
years of working experience,
and we have seen a good mix of
managers amongst them. We were
also surprised by the number of
women entrepreneurs; women
comprise about 30% of each
boot camp, and about 40% of the
companies selected for investment
and incubation are founded and led
by women entrepreneurs. This is
a healthy sign for our labor force
and for Jordan’s entrepreneurial
scene in general. Finally, many
people are traveling from other
Arab countries, Europe, the United
States and India to attend our boot
camps!
The Time is Now
To say it’s been a fulfilling first
16 months at Oasis500 would be
a tremendous understatement.
Since we started in September of
2010, to date, we have invested
in, incubated, and accelerated 45
companies. We have trained over
470 entrepreneurs, with over 10
companies receiving follow-on
funding from our Angel Network.
As I write this, we are getting
ready to welcome those startup
companies that have passed the
test from our Wave 9 boot camp
into our evergrowing family of
startups, and we just launched
Wave 10’s boot camp.
I say “family” because that’s kind
of what it’s like to be here. We’re
all in this together, working in the
same building – all the different
startups with their different
personalities. We’re here to give
support and advice, and the more
these young startups grow and
develop, the more we thrive. Their
success and fulfillment is our
our Achievements thus far
Investments
We invested in 3
times our goal for our
first year and have
now invested in over
45 companies.
Funding Leverage
In our first 6 months,
the first US$750,000
was invested in 25
initial companies.
Those companies have
attracted over US$8
million of follow-on
investment from local
and international
investors.
Training
To date, we have
successfully
completed 10 training
boot camps; Oasis500
has now trained over
470 entrepreneurs in
its first 15 months of
operation.
Share your thoughts
Do you have any comments or feedback? We’d love to know what
you think. Please send your thoughts to: [email protected]
success. It’s what we’re here for.
We have a network of mentors
(good “family” friends) who are
tried and true experts in their
fields. They stop by for visits often
and are always willing to lend an
ear and dish out invaluable advice
to any and all of our startups.
Companies that are ready for it get
to present at our Angel Network
Events that are held every three
months, attracting a network of
over 200 investors in the region.
We are proud of our Oasis500 and
we are proud of our entrepreneurs,
family, and friends. We want to
share the excitement with all.
So in the spirit of sharing all
things new, innovative and
exciting, and in an effort to create
a knowledge hub for local and
regional entrepreneurs, I’d like
to welcome you to our very first
issue of 500, Oasis500’s monthly
e-magazine – a hopeful extension
of all that we do, created for you
by one of our very own startups,
Blueprint Custom Content. So
whether you’re looking for some
solid advice from experts, the latest
in ICT, digital media and mobile,
a good investment opportunity or
just a bit of inspiration, we know
you’ll find it in these coming pages,
and we hope you’ll enjoy the issue.
www.
Usama M. Fayyad
Executive Chairman
Oasis500
Press and Culture
The impact in the press
and local culture has been
powerful. As a result,
Jordan has been named:
Number 1 in the amount
of technology deals
funded in 2011.
Number 2 in the Middle
East for the amount of
funds invested.
Also, Amman was chosen
globally as the 10th best
place to start a technology
company worldwide. We
believe that all of these
were heavily influenced
by our activities at
Oasis500.
Raising
Investment Funds
We have successfully
raised our first
investment fund, Oasis
Ventures 1 (OV1),
fulfilling His Majesty’s
request that this fund
be raised by the private
sector. The majority
of the investors are
Jordanian companies
and institutions.
the news
Her Majesty Queen
Rania visiting Boot
Camp 9, in January
2012.
Entrepreneurs and
Oasis500 staff at the
3rd Angel Network Event
in Dec. 2011
City of Angels
Never a dull
moment
As usual, the Oasis500
offices at King Hussein
Business Park have been
buzzing with guests in
the past few weeks. Most
notably, Her Majesty
Queen Rania herself
stopped by for a visit
in January, during the
Wave 9 training boot
camp, after which she
posted on her Facebook
page, “Inspired by
entrepreneurs I met at a
startup boot camp! Great
combo of instruction and
inspiration.”
Also in January, William
Cohan, the New York
Times’ bestselling author
by
“Inspired
entrepreneurs
I met at a
crisis.
of Money
and Power,
In December,
House of
Canadian
Cards and
businessman
The Last
Jim Balsillie,
Tycoons,
co-founder and
and
former co-CEO
regular
of Research
writer for
in Motion
Vanity
Posted by Her Majesty Queen Rania on her (RIM), the
Facebook page after visiting the Wave 9 makers of
Fair,
training boot camp.
Fortune
BlackBerry,
and The Washington
came to talk about
Post, came to speak to
starting one of the
the entrepreneurs. With
business world’s most
17 years of experience as
influential and relevant
a Wall Street banker, he
smart phones.
holds a wealth of insider
Other recent guests
information and insight
include media marketing
on the current financial
consultant Zeid Nasser,
startup boot
camp! Great
combo of
instruction
and inspiration
”
founder of Media Scope
and MediaME.com,
the leading portal for
advertising and media
professionals in the
Middle East, who held a
special workshop with
Oasis500 entrepreneurs
about online advertising,
and Nader Museitif of
Aramex International,
who spoke about
e-commerce, and
Ghassan Halazon,
founder of TeamBuy
Canada, who provided a
general overview about
starting up.
On December 18,
Oasis500 held its third
Angel Network event,
bringing together
local and international
investors, Oasis500
partners and
mentors and media
representatives,
to showcase five
new and promising
Oasis500-accelerated
startups from across
the MENA region
that were singled out
as fast-growth and
investment-ready
entrepreneurial
projects: Arabia
Weddings, a
comprehensive
bilingual website
that caters to the
lucrative wedding
industry; Aqar Estate,
an online real estate
platform for buyers
and sellers to find,
evaluate and select
real estate; Al Nassah,
a multi-purpose
school management
system that follows
up on all educational
staff’s day-to-day
activities; Progressive
Generation, a
production company
specialized in
producing creative
new-age 2D and 3D
animation catering
to the Arab World;
and Ebshir, an
online search engine
and directory for
purchasing vehicles.
The event served as a
valuable platform for
these companies to
share their projects and
pitch for investment
opportunities, and
Dr. Usama Fayyad,
Executive Chairman
of Oasis500, was
delighted at the range
and caliber of investors
who showed up from
across the region.
"Promising startups are
the true engine for job
creation and economic
development.
However,
entrepreneurs in
the MENA region
face tremendous
hurdles in securing
capital for their
ventures,” he said.
“Our previous Angel
Network investor
events witnessed an
unprecedented success
rate with 80 percent
of startups securing
funding ranging from
US $150,000 to US $3
million.”
From Left: Majied
Qasem CEO D1G,
Rama Kayyali
costly mistakes.
Jardaneh, Founder
A casual evening of
“The idea is to allow
Little Thinking
networking and advice
Minds,
Oasis500 startups
giving.
Salwa
Kathuda,
to
benefit
from
the
The details: Oasis500
Investment Manager
regularly holds mentor energy, wisdom and
Oasis500
knowhow of people
events to provide its
who
have
been
there,
entrepreneurs with
done that – from
exposure and connect
business leaders who
them with experienced
are willing to help,”
and accomplished
says Dr. Usama Fayyad,
professionals in
Executive Chairman of
various fields. The
Oasis500.
benefits that the
young startups gain
For a full list of mentors
from the advice and
insight of experienced working with Oasis500
startups, or to learn how
professionals are
you can become a mentor,
immeasurable. The
mentors’ support,
guidance and feedback
can really help
CLICK HERE
entrepreneurs achieve
Heath Arensen HashDoc
their goals and avoid
Meet the
mentors
buzz words
Spreading
the word
Rounding up all the speeches, tweets, status
updates and interviews worth mentioning
would leave us with little time for anything
else. As would reading them. So we’ve
handpicked a few of the best bits of advice and
insight bouncing off the walls at Oasis500 and
around the globe.
“When you hit
a plateau, take
those moments
of opportunity
and use them
for selfdevelopment.
Find the thing
you know you
need to improve
and make
this time the
boot camp for
learning it.”
Nancy Dubuc, President and General
Manager, Lifetime and History
Networks
“You can’t build a company
on ‘Like’; success is built
on ‘Love’.”
Jim Balsillie, former co-CEO, Research in Motion (RIM),
during a visit with Oasis500 entrepreneurs
“[Aramex] grew ten-
fold in 2011 in terms of
E-commerce in the region.”
Nader Museitif, Aramex Group,
during a roundtable discussion at Oasis500
“Be careful how you treat people. Your reputation is the
“All feedback
on our
website comes
directly to my
BlackBerry.
Complaints are
not a bad thing.
Complaints are
an opportunity.”
Hamdi Ulukaya, founder of Chobani
most important thing you have, and it’s a small world. If
you burn a bridge, it can come back to haunt you. ”
Carolyn Everson, VP of Global Marketing Solutions, Facebook
“The first chapter is running
as fast as you can, even if it’s
blindly.”
Ghassan Halazon, CEO of Team Buy
Canada, during a roundtable with
Oasis500 startups
“I was saying to my friends, ‘The Internet is going
to change everything in fashion – you clever guys
should do that over there!’ But my friends in
business were not getting it. So I thought, Let me
show you! ”
www.
Natalie Massenet, founder and executive chairperson, Net-a-Porter, which sold to the Swiss luxury goods company
Richemont for $532 million, netting a reported $76 million for Massenet, who retained 18 percent of Net-a-Porter
and remained its executive chairperson.
IN THEIR WORDS
NIDAL ESES
Entrepreneur, investor, Oasis500 mentor, Chiefmahoo, Guardian of
Eses4 Ventures and institutional transformer of family businesses
Born and raised in Amman, 45
Describe “Chiefmahoo” in one sentence.
Chiefmahoo is about converting the mahoo to
mahool in our lives, by focusing on self-change
and improvement instead of that of others
(mahoo is Arabic for excuse, and mahool is Arabic
for great).
I think Jordan would be better if…
We, as sincere citizens, move from an
entitlement-based culture to that of
performance.
having the wrong priorities in life. My priorities
became work, family, and then me… but now
I changed them back to: me, family, and then
work (‘me’ is subject to not infringing on other
people’s rights or freedoms).
What I enjoy most about working in
Jordan is…
Being close to my family.
Three things I would advise young
companies to do are…
Ensure that the founder understands his or
her purpose in life, and align that with the
company’s objectives.
Enjoy the journey, and not spoil it by focusing
only on the destination.
Build a caring-capitalism setup benefiting all
stakeholders in the company.
One thing we could learn from the way
things are done in other countries is…
In our region, non-native English speakers
confuse the P and B when they pronounce
them; thus, the confusion between business
issues and personal issues. In some countries,
there is a clear separation between business
management style and personal aspects. You
can differ with a person on a business issue in
a heated discussion, but after hours, you go out
to dinner (no grudges).
I could never live without…
My Coat of Honor
My Eses4 (my family)
My music, art and beautiful people (from the
inside).
Things in Jordan will get better when…
We celebrate success based on track record and
results rather than on who’s who, popularity,
submissive executives and avoidance of
accountability.
The best advice I ever received was…
Never blame others for your misfortune; make
your own fortune… Never mahoo; always
mahool.
The most important lesson they don’t
teach you in college is…
You do need academics, but mostly you
need the right attitude to succeed and make
a difference. College graduates are good
executives, but not entrepreneurs or leaders.
Each has to create his or her own style
coupled with his or her values in order to lead.
(Recommended book: Rich Dad Poor Dad by
Robert Kiyosaki).
I received this advice when…
If I tell you, I will have to kill you.
My biggest “Aha!” moment was when…
A buildup of the following occurred, and
culminated in a book:
I lost the sense of difference of what things
are worth and what they cost.
I lost my health by killing myself to be more
Catholic than the Pope in organizations.
I got sucked in by the continuous
indoctrination of consumerism, and the
whirlpool of empty societal imitation.
I achieved a childhood dream of reaching the
North Pole.
I read The Monk Who Sold His Ferrari by Robin
Sharma.
because…
I always lived as a free-spirit, focusing on my
own compass. I forgot myself in the process by
The thing that gets me out of bed in the
morning is…
My passion to see Eses4 and enjoying the
beauty of living.
I think children are…
Not children anymore; they are the mahoolingenious seeds that will preserve the unity of
humanity.
The greatest disservice we can do to our
youth is…
A prominent international figure once told
me, “We cripple our children by giving them
SUCH a good life.” She emphasized the word
‘SUCH’, since a good life is a must, but adding
the word ‘SUCH’ in terms of abundance will
not allow them to face the realities of living.
I unwind after a long day by…
Half an hour of quiet time.
Listening to my music.
Surfing the net to find gadgets.
If I had to do it all over again, I would…
Do it exactly the same. Experience is a cruel
teacher; it either makes you stronger or
breaks you. It is all in your head. This is my
mahoolosophy.
The top traits that make a great CEO are…
Avoiding analysis that leads to paralysis.
Taking bold stands that benefit the whole
organization, and not sacrificing them for job
security and pleasing boards.
Being firm but fair, and leading by example.
Applying democratic techniques in reaching
a decision, but applying military-style
execution.
Business in Jordan would be better if the
following is worked on:
Improving listening skills.
Focusing on organizational/national benefits
rather than popularity.
Moving from reasons to results by not
accepting any mahoos (excuses).
Allowing managers to focus on their specific
roles and areas of expertise, and giving them
the trust to be accountable for the results (both
positive and negative).
Widening executives’ horizons through more
reading. In the past, we used to call people who
can’t read ‘illiterate’. Now, those who don’t read
are illiterate. O.500
Nidal served as CEO of Shaheen Business & Investment Group, Nuqul
Group and The Promise, as well as on several boards in the region.
He currently plays an active role at Oasis500, is one of the founding
board members of Tikyet Um Ali, and also serves as a board member
of the Middle East Leadership Academy. Most of all, Nidal is a proud
member of the “Eses4 team”, which includes himself, his wife Rania,
and their two children, Celine and Seif.
In 2011, Nidal achieved his lifelong goal
of visiting the North Pole. From the
arctic island of Svalbard, the week-long
trip involved military Antonov planes,
20 Russian ex-special forces, a military
air-drop and camping on ice, a helicopter
ride and seven hours of trekking through
snow to reach 90° North, where he spent
four days.
101
IN THEIR WORDS
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6.5
7.2
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3.8
6.1
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end of time
al
ss
t
uc
1
is waiting until the
c
Medi
e
tn
n
io
n
Co
is paying on
time
fees is not advisable,
either. Spending weeks,
if not months, developing
an opportunity, only to
discover that what the
prospect had in mind was
much lower, is one of the
possible outcomes.
To avoid this scenario
while not appearing
greedy, get a good idea
about the potential scope
of work that will be
involved. Compare that
to previous engagements
that are similar and
guesstimate a total
fee. Discuss this as a
rough estimate with your
prospect and get his or
her initial feedback on this
figure. This will reveal
whether or not you’re on
the right track, or if you
should reconsider the
scope you had in mind.
Once you have a better
understanding of the
prospect’s capabilities and
willingness to pay for your
services, you can be sure
your following technical
proposal doesn’t include an
unrealistic scope.
payment performance
Aviati
5.7
4
Tou
Ra’ed Bilbessi is the founder and CEO of Pinnacle Business & Marketing
Consulting. With over 20 years of experience in a variety of sectors,
including marketing, advertising, media, communication, technology,
tourism, education, wholesale, retail, and non-profit organizations,
Ra’ed also serves as a member of the board of trustees at the Jordanian
Hashemite Fund for Human Development (JOHUD) and as a board
member at Save the Children Jordan.
7
6.7
7
Re
6.5
salaries. Your clients, of course, want
to preserve their own cash flow and will
try to stretch your payments for 30,
60, and even 90 days. Your employees
won’t wait that long to receive their
paychecks, and your landlord will have
a fit if that check doesn’t clear on time.
Your utilities providers have a much
simpler solution; they can simply
switch off your phones, Internet
access, and electricity. The solution is
simple in theory, but more difficult in
practice; you need to make sure your
incoming payments are timed well
to correspond to outgoing payments,
hence resulting in a positive cash flow
at all times. Giving clients a prompt
payment discount (say, two percent
for paying within ten days) will help a
great deal, as large companies usually
generate substantial savings through
these discounts. This will cut a bit into
your profit, but again, at this stage,
cash is king! O.500
6.9
I
well aware of those. Otherwise, you
won’t be able to pay salaries, rent, and
expenses during those critical periods.
The second – and very obvious –
source is generating sales. Getting
paid for what you do is the key concept
here.
The problem with startups
is that the entrepreneur is entirely
focused on his or her product or service
development, and has little time to go
out and generate sales. At the same
time, hiring a full-time qualified
business developer is not really in the
budget, either. A good solution is to
partner up with someone who’s savvy
in business and knows how to go about
generating income. You’ll have to give
up a chunk of your equity, of course,
but it’s a worthwhile investment.
Investors are willing to sustain your
cash flow needs for only so long, and
eventually you have to generate your
own cash to sustain your business and
turn a profit as well.
Another area that you – or your
business-savvy partner – will need to
focus on is managing your receivables
and payables. The former have a nasty
habit of stretching endlessly to collect,
while the latter usually want to be
settled immediately. So you can end
up being owed a lot, but don’t have
enough cash in your account to pay
Luxury Goods & Serv
ices
ge
era
Bev
d &
Successful entrepreneur Ra’ed Bilbessi sheds some light on one of the most
important elements to startup success: how to manage your cash flow
f you’re an entrepreneur and
running a startup, there’s one
lesson you’ll learn really fast
even if you don’t have an education
in business: Cash is king! In fact,
undercapitalization is rated amongst
the most common reasons why many
businesses never really see the light
of day, no matter how brilliant the
concept or product may be.
A positive cash flow depends on a
number of elements. Foremost of
all is adequate funding for your new
business venture. You simply need to
make sure you have sufficient funds
at your disposal to bridge those first
few critical months, during which you
have lots of capital and operational
expenses to settle, but no income to
offset them. This is why you need to
forecast your financial statements very
carefully to make sure you’re not only
profitable, but also cash-flow positive.
In fact, the latter is more important
than the former during the first year or
so of your business. Therefore, when
you build your financial tables, make
sure that the first two years are done
on a monthly basis. You may have a
cash-flow positive year, but there
will be months or quarters where
your outflows exceed your inflows
and available funds, so you need to be
In business development,
especially in our part of
the world, there’s often a
reluctance to tackle the
sometimes sensitive issue
of price. It’s not a subject
many feel comfortable
discussing, especially at
the early stages, and the
usual preference is to first
demonstrate the value of
the proposed services.
There’s no doubt that
talking fees prematurely
can damage an
opportunity. Not only
might the prospect
perceive the consultant
as being greedy, but he or
she might rightfully not
yet see the value of the
proposed services at hand. Yet, moving too deep into
the cycle without any
indication of the expected
We polled over one hundred
industry insiders and asked
them anonymously to give
us their feedback on which
companies actually pay on time,
and who’s costing you your
positive cash flow, and possibly
your business.
Communi
paid
for what you
do is the key
concept here ”
Bringing up the
issue of price
and payment can
often times make
or break a deal.
Here’s how to
handle it the right
way.
startup
Who’s paying on time
& who’s paying with
your time
Foo
Why
Cash will
always be
King
“Getting
MONEY TALKS
tech, please
got the
business?
now get the
gear
With a slew of gadgets being released left, right,
and center nowadays, it can be tricky to stay
ahead of, or even on, the tech curve.
Follow our guide to always stay a step ahead of
the crowd.
The world’s thinnest smartphone,
at 7.1mm thick, comes constructed
in Kevlar and protected with Splash
Guard, so no worries there, when
you’re throwing Motorola’s RAZR from
meeting to airport, and back again.
Under protection is an impressive
inside that boasts a 1.2GHz dualcore processor, 1GB RAM, and 16GB
storage, and a 4.3in Super AMOLED
Gorilla Glass display.
www.
For email-heavy users, the
BlackBerry Bold 9930 is
the best RIM have served
up. The touch keyboard is a
pleasure to use, and together
with a 1.2 GHz processor and
a 24-bit high-res display,
Liquid Graphics gives you
fluid animations and instant
response times.
At its core, the Kindle Fire is an Android tablet,
but it’s heavily skinned with Amazon’s shelf-based
cover flow-style interface, which means you’ve
got an excessive amount of titles to choose from
straight off the shelf.
With full control over hardware and software,
Apple have squeezed every enviable drop of
performance out of the iPad2, delivering to
users fast-paced task switching and liquid-like
animations.
Not quite as good
as a DSLR, but
what it lacks in
functionality and
pixel count, the
Nikon 1 V1 makes
up for with a tanklike build quality
and razor sharp
images. Packaged in
a deliciously retro
shell, the V1 should
be resting on the
hip of anyone
looking to capture
the zeitgeist.
The iPhone4S is the default
smartphone for those
looking for superior battery
life, over half a million apps,
and voice recognition that’ll
leave you feeling like your
own personal assistant is
just one touch away.
If nothing shouts
success more than
the clothes you
wear, perhaps
you’ve really
made it when your
gadgets are just as
well-dressed. This
Smythson Kindle
Case comes straight
from the London
based maker of
leather goods to
the British royal
family.
BlackBerry’s Playbook is one of the most
beautifully built tablets on the market. It comes
with future-proof Android app compatibility, a
brilliant screen, sleek operation and an OS that
means you’ll be more bug-free than Android.
Accidentally lost
your contacts
and image roll
because you’ve
hard-reset your
frozen iPhone? It’s
time you invested
in Iomega’s
Superhero Docking
Charger and
external backup,
which will back
up and sync your
contacts and
image roll on every
charge.
tech, please
app-solutely necessary
One great thing about living in the digital age? There are tons of new tools and software to make life a whole
lot easier. Since keeping up with all the latest apps is a task within itself, we sorted through them for you and
came up with five tried and true apps that every businessperson should own.
Check traffic (on
your website)
Brush up on your
business strategy
Take notes on
the go
Manage your
cash flow
chartixx
iPad
iOS 3.0
Cost: Free
v1.1
Business Tips
iPhone
iOS 3.0
Cost: US$7.99
v3.6
Evernote
iPhone
iOS 3.0
Cost: Free
v4.0.4
iXpenseIt
iPhone
iOS 3.0
Cost: US$4.99
v4.6.3
It’s always satisfying to
know that your hard work is
being noticed, and if you’re
a small business owner and
you’re curious to see who’s
checking out your site,
this is the app you need.
Chartixx has some great
tracking tools that allow
you to see how much traffic
your site is getting, which
is the best way to gauge
interest, spot trends and
test out deals and offers.
It’s free, too; all you need
to do is sign up online, and
you’re good to go!
There is no one in the
business world who
wouldn’t benefit from
this brilliant app, which
combines all kinds of
useful information from a
number of books from the
Fast Track series by the
international publishing
group FT Prentice Hall.
Perfect as a go-to resource
on everything from finance
to sales and strategy, plus
everything in between, this
app is well organized and
super easy to navigate, with
reader-friendly content
you won’t find anywhere
else. Think of it as a library
of relevant information at
your fingertips.
We often miss out on great
opportunities because
we don’t have a notepad
and pen at hand. That’s
why note-taking apps
are popping up left and
right. Evernote stands out
from this sea of likeminded apps for many
reasons. It has a smooth,
clean interface and great
functionality, allowing you
to group and organize your
notes in a way that makes
sense to you, and its cloudbased synchronization
allows for access on all your
devices. Also, you can print
or share your notes with
just the tap of a button.
You’ll never have to
worry about going over
your budget again with
this clever approach
to budgeting that’s
recommended for anyone
who wishes to manage
their cash flows efficiently.
With this app, your budget
is shown in the form of
an iPhone battery, letting
you know if you are in the
“safe” zone of spending
or if you need to slow
things down. Organization
freaks will love the detailed
reports and pie charts of
their income and expenses,
which they can convert to
PDF and send as an email.
A great app for managing
both your business and
personal spending.
Everyday
RunPee.com
Share and
retrieve your
files
Dropbox
iPhone
iOS 3.1
Cost: Free
v1.4.3
If you’re one of those
people who panic about
forgetting their USB stick,
or you just can’t stand the
hassle of emailing huge
documents and files to
yourself so you can work on
them later, then Dropbox is
definitely for you. In fact, it
should be for everyone! Fast
and reliable, this app allows
you to simply drop files into
a virtual “box” (on your
computer, for example) for
easy retrieval later (from
your smartphone). Not only
is at as easy as can be, but
you don’t have to worry
about forgetting that USB
stick ever again!
ecalp eno ta stneve etirovaf ruoy llA
dezinorhcnys dna dezilaicos ,dezilanosrep
There’s
an app
for that,
too...
Think there’s
no app for
that? Think
again!
Body Language
Explained Want to know what your
boss really thinks of your
proposal? Body Language
Explained offers insight into
the hidden messages of body
movement, which the makers
claim to account for over 93
percent of total communication
in a given conversation. Android 2.1
$1.13
Scrapbook, you say? Today’s
businesspeople barely have
time to see their kids, let
alone track the intricacies of
their development. With this
app, you can take a picture of
your kid every day, and it will
transform the photos into a
movie. Don’t have kids? Track
progress of a diet visually, or
just watch yourself change.
iPhone, iPad, iPod touch
iOS 4.0
$1.99
Never miss crucial scenes
at the cinema again
with RunPee.com. This app
will let you know the best
time during a movie to get
up and use the restroom.
Got held up at the office and
running late? No worries – the
app also provides you with
synopses of the first five
minutes of each movie.
iOS 4.0
Free
Lemon - Receipts
Refreshed
All your favorite events at one place
personalized, socialized and synchronized
www.
Scan your receipts with Lemon
- Receipts Refreshed and easily
organize and keep track of all
your expenses. Text from the
images you scan becomes
taggable and searchable,
making receipt management a
breeze.
iOS 4.2
Free
feature
Left to right: Firas Shahrour,
26, financials/operations;
Feras Hirzalla, 25, tech; Ahmad
Hammad, 25, tech; Qais Sabri,
26, business development; Yousef
Nassar, 27, marketing/mentorship
outreach.
Manzil ME
The Pitch: Make moving
rewarding
The Founders: Firas
Shahrour, Feras Hirzalla,
Ahmad Hammad, Qais Sabri,
Yousef Nassar
It makes sense that
a rooftop apartment
with a beautiful view
is where a fresh new
concept in real estate
was born. Though if
you put five energetic
tech- and businesssavvy young men in any
kind of space, they’re
bound to come up with
loads of creative
ideas.
Since its inception in early 2011, Oasis500 has trained and supported wave after wave of promising young talents, with a
vision of incubating 500 startups in total. Here, a few of the startups grabbing our attention this month.
Meet the start
ups
Like any group of guys, they
can be rowdy. Spend an hour
with them, and you’ll probably
witness some ear-pulling,
shoulder punching, and more
than a few wisecracks, but
you can chalk that up to an
abundance of creative energy
in need of an outlet. But talk
about their startup, and there’s
no messing around; these guys
mean business, and they’ve got
the track record to prove it.
Between the five of them, they
hold degrees from universities
such as Purdue, Cambridge and
St. Andrews, they held positions
at international companies like
Proctor & Gamble, Ernst &
Young and Wells Fargo, and they
already started three different
companies of their own. These
guys are definitely on a roll,
and we caught up with them to
see how their newest venture is
panning out so far.
feature
How did you meet and come
to work together?
Feras: I went to high school with
Ahmad. Qais became my neighbor
when I moved to Jordan from the
States. He used to bully me when I
was little.
Qais: I still do!
Firas: Qais and I were friends since
high school. Yousef is a friend of a
friend. We all went to our respective
colleges and came back. Qais started
QS Medical – a medical sales and
consultancy services company, and
Qais, Yousef and I also started an
orthodontic appliances company,
Crystalign, which provides customers
with alternative invisible braces, in
2011. Feras and Ahmad, who went to
high school together, started Butter
Cloud, a software company that works
primarily with clients in the US. When
Butter Cloud did some IT work for
Crystalign through Qais, we all got to
know each other and said we had to
do something together, related to IT,
since Ahmad and Feras were on the
team. We submitted five pitches to
Oasis500, and all five of them went
through!
Qais: Our other ideas are being
shelved for now. We chose to pursue
Manzil.me with Oasis500 because it’s
the one we needed the most support
with.
What attracted you to
approach Oasis500?
Feras: Yousef heard an ad on the
radio, and he’s the one who pushed
for it.
Qais: We were keen on the fact that
we’d get to work in a structured
environment that offered resources,
and that’s when we decided it was
the best way to go as a team of five,
because a big challenge was how to
work together. It gave us the structure
and the networking opportunities that
we needed. The support, mentorship
and funding really gave us a push.
How did you come up with the
name?
Feras: We brainstormed names until
we came up with it.
Qais: The first idea was Shibber, but
there was a problem with that.
Firas: ‘Manzil’ means ‘house’ in Arabic.
We went with ‘me’ simply because…
Qais: Because Manzil.com cost about
$20,000!
So, the ‘me’ doesn’t stand
for Middle East?
Firas: That’s great
that you think
that! It could
also mean, me
manzil… like mi casa.
[Laughs]
everybody money, it eases the
traumatic experience of moving into a
new home.
We also offer a cool thing where
people who use our website receive
a financial kickback; it’s like a reward
program where tenants get financial
incentives of US$50 or $100 for
renting through us. Plus, they get
vouchers from relevant vendors that
they might need during their move.
Feras: For example, if you find an
unfurnished apartment on our
website and you
want to rent it,
we’ll give you
a coffee table
from IKEA as an
incentive.
vote on
“ we
everything
that’s pivotal to
the business.
We have no
dictators.
How did this
idea pop in
your head?
Qais: The real estate
industry is such a
primitive industry.
We live in a world
where pretty much
your whole life is on your mobile, and
yet we’re using a traditional model for
real estate that’s as old as a dinosaur.
The real estate companies that are
currently online are just extensions
of the offline models; they’re all
commission based. We decided to
change things up and introduce the
pay-for-performance concept, which
means that you can list your sites on
our website free of charge. We charge
you a flat fee only if your place is
rented through us, and not through
other channels.
What makes Manzil.me
special?
Qais: It’s the first pay-for-performance
real estate website for rentals that
eliminates all the commission and
fees associated with the traditional
real estate brokerage model. Instead,
buyers or sellers pay a percentage
of the rental sale. But beyond saving
What region
are you
covering?
Qais: For now,
our geographic
focus is
primarily the
GCC. There
are higher end turnovers, a high
expat percentage, and high Internet
penetration. So we’re starting there
and we’ll see how it unfolds.
”
Who are your target clients?
Feras: Landlords and third party
vendors that cover any services
related to someone moving to a
new area, like furniture shops. And,
of course, anyone looking for an
apartment, flat, or villa to rent.
What have been your biggest
challenges so far?
Qais: Internally, it was finding that
sweet spot where the whole team
could work at our utmost capacity. It
was maximizing on human resources
within the team. Organizing and
figuring out the roles, etc. Externally, it
was navigating between the different
landscapes of the market. In the
Middle East, the markets differ from
one country to another, one city to
another…
Feras: Even one district to another!
Firas: Also, most of the people who
work in this industry are older, and
they’re reluctant to change. Old habits
die hard.
Do you face any difficulties
in being a large team?
Qais: On one hand, five is better
than one. You have more manpower,
more dedication and passion working
towards the same goal. But in some
cases we found that you really do
have to have a leader when there’s
a group; someone who’s a go-getter,
who’s going to speak, and everyone
else will support.
People voiced concern about us
being a big team. But it’s actually a
benefit. When everyone is dedicated,
there’s more strength in numbers.
It’s only tricky if there’s no proper
leadership within the team, and
harmony between the members.
apartment or space, which would
obviously take a lot of time, people
can view their options online, without
leaving their computer.
Feras: If you’re getting ready to move
to a new city, or busy with work, you
don’t want to and probably can’t
spend a lot of time on the street,
viewing flats that agents told you
about. If you haven’t even moved to
the country yet, you’ll find a bit of
information about each area on our
website.
Are there any drawbacks?
Firas: One disadvantage that comes
with being online is missing out
on the personal touch. But we’re
trying to compensate for this by
making our site user-friendly,
including information on schools
and neighborhoods, and why or why
not you might want to be part of a
community.
What’s your biggest worry
with regards to marketing?
Firas: It’s always
Who makes
the same – you
the
want to spend
decisions?
your marketing
Qais: Feras
money to help
is our CEO.
generate traffic
We’re very
and more
democratic;
business, but
we vote on
not too much,
everything
because our
that’s pivotal to
clients are not
the business.
likely going
We have no
to look for
dictators.
apartments
What are
- Colliers International, a more than once
every couple
the benefits
top three property service of years. So we
to being
online?
consultant have to think
about the most
Firas: You
appropriate marketing channels to
have access to an infinite market. The
reach our clients.
market reach is humongous.
Feras: We can reach millions of
people, even though we’re just a small What’s one thing they didn’t
teach you in business
company.
school?
Firas: Instead of going to each
The GCC real estate market
is the fastest growing in
the world, with more than
16.35
million square meters of
Gross Leasable Area (GLA)
to be completed by 2010
Qais: We’re learning things every
day! It’s hard to put it into words.
One thing I’m seeing is that it really
is 90 percent hard work and 10
percent everything else. It’s working
really hard to materialize your goals.
I can’t emphasize the importance
of networking and how it can open
doors and accelerate the process. The
collective wealth of wisdom can really
help you tweak your business and
avoid major mistakes at the beginning.
You sit down with your mentor, and
everything is a lot easier.
Some of us have real estate
experience, and I’ve realized that it’s
very important when you want to
innovate and progress in an industry
– you have to breathe it and live it
and understand it before you’re able
to leap forward into that realm of
innovation within the industry.
Where do you see Manzil.me
five years from now?
Qais: Let’s hope it’s going to be the
leading real estate portal in the
region.
Feras: In the world!
Firas: And for it to be IPO certified.
What were some surprises
along the way?
Qais: You can always count on lots of
surprises when it comes to startups.
As much as you plan and try to
mitigate risks, you’ll always have
surprises.
Firas: The variations in market places
were surprising. But we’ve managed to
handle this well.
Qais: It’s about creating a vision
that’s broad enough, and not limiting
yourself or your business with a
specific vision that’s destined to
be doomed. We’ve learned to be
adaptable; we’re willing to change
if the market requires it. You just
have to understand your true value.
Understand what the market is. O.500
feature
Ekeif
Arabia Weddings
The Pitch: The Arabic eHow
The Founder: Sima Najjar
The Pitch: A comprehensive
platform for wedding planning
The Founders: Samar Shawareb,
Mazen Ashqar
When Sima Najjar had a 9-to-5
desk job, she was going nuts. A
graphic designer by training, she
loved design but couldn’t handle
being chained to a desk all day.
“There were just so many other
things I wanted to do!” explains the
bubbly and energetic 28-year-old.
So she did. At the age of 23, she
launched SiMS Modeling Agency,
which grew to become one of
Jordan’s top modeling agencies.
More recently, she launched
Pinkdust, a boutique in Abdoun
where up-and-coming fashion
designers from around the Middle
East can showcase their work. But
that still wasn’t enough. With the
plethora of ideas in her head, she
created a project that could fulfill all
her creative desires in one: Ekeif,
a website full of short instructional
videos on pretty much anything
you can imagine, from applying
professional makeup to painting
your own home. We caught up with
Sima to ask how she’s planning to
implement this massive project.
Can people go on your site,
type in any random how-to
question and find a solution?
Right now, we’re building a huge
database of videos. The point is to be
quick and offer creative, do-it-yourself
solutions to everyday problems. We’re
also crowdsourcing for more ideas.
Later, we’ll implement a feature that
allows users to just go on our site and
ask questions.
Will there be videos about
everything you can imagine?
That is our ultimate goal. So far, we
have six categories: Arts and Crafts;
Health and Wellbeing; Beauty
and Style; Food; Home and
Lifestyle; and Family. For
example, under Beauty and
Style, you can learn how to
make your own lip gloss, apply
makeup, tie a tie, or create
your own accessories. Under
Home and Lifestyle, you’ll find
videos on gardening, painting,
home improvement… Our goal
is to get people to start doing
things themselves in easy and
creative ways rather than wait
around for someone to come
do it. Under Family, there will
be parenting tips like how to
deal with temper tantrums
or get kids into reading.
Eventually, we also want to
delve into serious topics.
How long does it take
to create a video?
With production and editing,
we can create about ten per week.
Each video requires a substantial
amount of work, with researching,
getting a doctor’s or expert advice,
finding a location, then filming,
editing and voiceovers. Right now,
we’re producing all the videos
ourselves, but we may consider
outsourcing at some point.
Will users eventually be
able to upload their own
how-to videos?
They will be able to, but they will be
edited by us. We’re not trying to be
like YouTube; we want to maintain a
certain image.
What language are your
videos in?
Our first phase is colloquial Arabic.
It’s somewhere in between Jordanian
and classical Arabic. Jordanian is
the closest to classical out of all the
Arabic dialects, and so it’s the easiest
to understand. Later, the videos will
be available in multiple languages.
What was the most fun video
to make so far?
“How to remove the smell of garlic
from your hands” was pretty neat!
It really worked; the smell was gone
completely. See, stuff like this is great
because garlic is essential in our
culture. Everyone likes it, and this is
a simple solution to a very common
problem. I also enjoyed working on
“How to make your own lip gloss”.
What have you learned how
to do since starting this
business?
How to tie a tie for my husband.
There’s so much to learn – that’s
what’s so nice about it! Thinking of
the subjects is so much fun. O.500
obsessed with their wedding day from
Samar Shawareb always knew
the minute they’re engaged. It’s a big
she wanted to start a business;
focus for them.
she just didn’t know what kind.
After a 15-year stint working at the
What can I find on your site?
British embassy, something clicked.
A directory that lists hundreds of
In 2001, she and her husband
suppliers, rated and
founded the events
reviewed by other
management
users; content on
company Events
beauty, fashion,
Unlimited in
flowers, cakes, and
more, which will soon
Amman. One of
the events they
of engaged couples be enhanced with
organized was the set a wedding budget videos and galleries;
innovative planning
annual three-day
tools, including
Wedding Show.
checklists before the
“After every Wedding
big day; interactivity,
Show, we’d get
where visitors seek
tons of phone calls
advice and “mingle”;
from brides who
and unique features,
of
whom
end
up
missed it, asking if
like where couples
overspending can create their own
we had catalogs or
wedding page to share
videos of the event.
photos, tell
We sensed that it would be great
their story, and
to have a comprehensive resource
more.
that’s available 24/7, year-round.”
Thus, Samar began working on the
Is the
Arabia Weddings website – a onecontent only
stop “shop” for everything a woman
relevant
needs in planning one of the biggest
for bridesdays of her life. “Ultimately, we hope
to-be?
to transform wedding planning into
About 80
an efficient, easy, exciting and more
percent of
our clients
affordable process,” says Samar.
81%
53%
Are you a wedding guru?
Because of our experience in
organizing the Wedding Show
for six years, I know the wedding
market inside out. This gives me a
competitive edge. Plus, weddings
are a fun, positive thing to work on.
And the scope of possibility is huge –
there’s so much involved in planning
a wedding. Finally, it’s highly relevant.
Typically, brides around the world,
especially in our part of the world, are
are females
between the
ages of 20
and 35. We
definitely
don’t expect
visitors to be
brides only;
aside from the
gift registries,
there’s plenty
of content that’s relevant to all
women, with beauty and fashion tips
and advice on different subjects –
information that is useful in planning
any type of celebration.
What problems does your site
solve?
Brides and grooms these days face
a lot of difficulties. We conducted a
survey, and most of our respondents
said that planning a wedding is
stressful and time consuming, so
we’re trying to address these pains.
They have difficulty finding suppliers;
they literally go around seeking every
possible hotel and venue, and their
options are often limited.
Our site is time-saving, less stressful
and more enjoyable, and everything
can be accessed at the user’s
fingertips. Also, there’s a Special Deals
section where users can get discount
packages for their honeymoon,
invitations and more. We’re still
working on expanding this portfolio,
and it will be big.
Do you cater
to all of
Arabia?
Our plan is to be
present in most
of the Arab world.
We’ve started in
Jordan, but we
have plans to
branch into Saudi
Arabia and the UAE
next, then Egypt.
At this stage, we
are still debugging
and tweaking,
perfecting our
business model.
Once we’re all
set and happy
with our business
model and the
systems we’ve created, we will
venture into more markets. O.500
sweet deals
Sweet deals
Who doesn’t love a sweet deal (particularly when followed by a
sweet treat)? Check out this running list of our startups’ most
recent achievements. With these inspiring stories, there’s
always a reason to have knafeh at the Oasis500 offices!
Madfoo3atCom signed
contracts with both Al
Rajhi and Al Ahli banks
and received a US$500,000
investment from Saudi
and Jordanian investors.
Ebshir signed
agreements with
more than 350 auto
dealers and sold over
50 vehicles in four
months.
Little Thinking Minds are sold
at Virgin Megastore in
UAE, Jordan, Qatar and Oman,
and Toys R Us in Saudi Arabia;
they’re also available on iTunes
and YouTube rentals.
dakwak received an
investment from IV
Holdings.
Curl Stone received an
investment five times their
original valuation and received
sponsorship from Umniah
for their Nashmi Man series,
which will air on Roaya TV.
Aqar-Estate.com launched
their “La2tah” hot offers
section and sold 3 out of
5 deals in the first month. Wheels Express received a
follow-on investment that
increased their valuation by 6
fold.
Shawweet secured
advertising deals worth
US$3,000 and celebrated
over 120,000 downloads
of their mobile app.
What is Next? for
Business Solutions
signed contracts with
Masmoo3, IRADA,
and Aramex.
Sajilni.com developed
partnerships with over
10 event and activity
organizers.
VitalTronix signed an MOU
with Princess Sumaya
University and developed
a partnership with
JTronix.
Mustaqil secured over
10,000 users and were
recently mentioned by
CNBC, the New York
Times and Sindibad
Business.
Experts 911 signed an
agreement with
Bitdefender for their
Cloud Security Solution
covering the Middle
East.
Zaytouneh received a followon investment from several
private investors including Mr.
Samih Toukan, Mr. Hussam
Khoury and Mr. Fadi
Ghandour.
Fooq Al Sada celebrated
1,000,000 video
views, and counting!
Run2Sport received a follow-on
investment of US$2.5 million
from Souk.com.
Jamalon received a follow-on
investment of US$400,000 from
private investors.
Masmoo3 received a followon investment and tripled
their valuation.
www.
www.
www.oasis500.com

March 2012, Issue 01

Transcription

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