Lebanon is well-known worldwide as a lively hotspot for entrepreneurs, and the last few years have seen a big boom in successful startups! We’ve picked a few of the most inspiring Lebanese startups to know more about the world of big ideas.
One that most of us have heard of by now is l’Atelier du Miel. The pure honey empire started with buying 30 beehives for around $6000, & they’ve grown steadily since! They now produce over 15 tons of honey a year! It is one of many startups that are good at finding gaps in the market and filling them with an amazing product. Another example is Kamkalima, an interactive platform that provides digital Arabic stories for students. They saw that less than 10% of total global online content is in Arabic, although native Arabic speakers represent 420 million worldwide! What an opportunity! Want more proof? Moodfit, which connects customers to interior designers, noticed that the interior design & furniture industry in the MENA region is estimated at more than $20 billion dollars, while still not integrated in the world of technology. That was their chance, and they took it!
However, they all have one rule they all agree on: you must be flexible and adapt to your market. FeeDeed, an exclusive online community that connects freelancers and hiring managers, had to reduce freelancers from 400 to 50, change their business model, then go back up to 200 freelangers when they started their new model! A good business model is vital structure to keep things smooth. Instashop, an online shopping & delivery platform, is a great example. It has over 300K users with an average rate of 3.7 orders per month. They apply good resource management to keep their customers happy!
In some cases, the growth happens big and fast. Brate, an online marketplace & local search engine for products and reviews, saw a growth of 200% with one million users reached in 2015! And for those who are ready to face the challenges, the rewards are big. 25-year-old Ziad Alame won the 2018 GITEX Future Stars’ Supernova Challenge & a jackpot of USD$100,000 for Spike, a mobile assistant that helps diabetics manage their illness. Now that’s what I call a success!
So, if you have a big idea, and you’re ready for the battle, get started now!