Meaning ‘all around’ in Lebanese slang, Dermandar specializes in digital image technologies. The concept is simple: pictures taken with a normal camera can be turned into a panorama picture within seconds using the online tool that Dermandar has created. It was co-founded in January 2010 by Elie Grégoire Khoury and Elias Fadel Khoury and launched as an iPhone application in June 2011.
Sources of revenues:
The iPhone application is priced at $1.99 in the Apple store, of which Apple takes 30 percent commission. This revenue now covers five to 10 times Dermandar’s expenses, rendering the company “very cash-flow positive,” according to Khoury.
1.8 million downloads since the launch of its iPhone application on June 8 2011 (97 percent of Dermandar usage is on the iPhone app and not the website). These downloads are mainly coming from the United States (21 percent of downloads), China (12 percent) and Germany (11 percent). As Dermandar is an offshore company, it is not allowed to sell the application inside Lebanon.
Dermandar is developing an Android app and will eventually develop a Windows 7 app, but it has no plan for a blackberry app as “that is the segmentation of the worldwide market,” says Khoury. Dermandar is also preparing new apps for 2012 based on digital image processing using what has been learnt so far to “provide more fun and sexy apps.”
More on www.dermandar.com
ButterflEye produces swimming goggles with integrated electronic monitors that track the heart rate of an athlete during activity. A tiny bulb at the top of the lens goes green if the swimmer is in his target zone, yellow if he needs to speed up and red if he needs to slow down. It was founded by 23-year-old Hind Hobeika and was officially registered in September 2011. It is still at the prototyping stage and the product should be ready for sale in 2012.
Sources of revenues:
The price of the goggle is expected to be north of $100 and the primary market will be the United States. However, the revenues will not only be based on the sales of the products but also on the licensing of its US patent, which has already been filed and is expected to be reviewed in a couple of months.
“Opening ButterflEye, focusing full time on its work and securing $100,000 in funding from Berytech, one of Lebanon’s most important venture capital [funds],” says Hobeika.
First, Hobeika has to start selling the product and secure a license for the patent. In order to do that, ButterflEye might need another round of financing. She also wants to develop other products related to sports and biomedical technologies.
More on www.butterfleyeproject.com
Cinemoz is a video-on-demand platform providing videos from the Arab world. It was set up by 27-year-old Karim Safieddine and will be fully accessible to the public in December 2011, with a diverse library of 250 titles, from feature films to TV series to documentaries and shorts. As an Arabic content provider, the direct geographical target of Cinemoz is Egypt and the Gulf Cooperation Council (GCC), while still remaining strongly Pan-Arab and globally competitive.
Source of revenues:
Cinemoz generates its revenues through premium in-video advertising. “The model has proven to be viable and meets all the interests of different parties involved, whether it’s content owners, advertisers or ourselves,” says Safieddine. By the end of 2012, Cinemoz expects advertising revenues to reach $500,000.
“I believe our most outstanding achievement for 2011 was to actually build a strong team and keep it together. Finding talented individuals who are willing to fully immerse themselves with a start-up and get them to build something from the ground with you is a major obstacle in Lebanon,” says Safieddine.
Cinemoz’s future plan is to have a second round of investment (after securing a $200,000 loan from Kafalat), add premium content, develop state-of-the-art technologies and deliver a groundbreaking product.
More on www.cinemoz.com