{"id":143300,"date":"2024-11-19T23:03:55","date_gmt":"2024-11-19T22:03:55","guid":{"rendered":"https:\/\/www.startupbusiness.it\/ayki-and-pyckd-lebanese-start-ups-supported-by-wip-pro-terra-sancta\/143300\/"},"modified":"2024-11-20T12:40:27","modified_gmt":"2024-11-20T11:40:27","slug":"ayki-and-pyckd-lebanese-start-ups-supported-by-wip-pro-terra-sancta","status":"publish","type":"post","link":"https:\/\/www.startupbusiness.it\/en\/ayki-and-pyckd-lebanese-start-ups-supported-by-wip-pro-terra-sancta\/143300\/","title":{"rendered":"Ayki and Pyckd, Lebanese start-ups supported by WIP Pro Terra Sancta"},"content":{"rendered":"\n

Ayki and Pyckd are two Lebanese start-ups that recently had the opportunity to meet potential financial and industrial partners in Italy, thanks to the support of the Work In Progress (WIP) programme run by the NGO Pro Terra Sancta.<\/strong> Startupbusiness met the two founders and CEO Ara Abadjan and George Daccache.<\/strong> <\/p>\n\n\n\n

“Ayki<\/a> has created an app that allows for the efficient and productive management of gardens and vegetable gardens,” says Abadjan.<\/strong> “It works with every type of plant, whether ornamental flora or vegetables, then products for food, and with every type of microclimate, so it can be used by users living in every part of the planet.<\/p>\n\n\n\n

The start-up that plans to go to market in 2025 from Lebanon and 10 other countries is completing testing of the application that provides timing and even forecasts for crop production is currently in the fundraising stage aiming for an early stage round of at least $400,000. “We are also developing sensors that users can purchase and integrate into their green space in order to make the process even more precise and complete, and kits will soon be available on the site that will be offered to those who already have the app on purchase terms that also include a subscription to the service”, concludes the founder. <\/p>\n\n\n\n

Somewhat further along in development is Pyckd<\/a>, which its founder describes as an Etsy for the Middle East: ‘Our platform,’ he says, ‘is available to small producers and artisans who wish to make their production available to international markets. <\/strong>Our approach is to take great care of both buyers and sellers by providing a user-friendly platform that integrates all the necessary functionalities: shop window, customisation, payment, shipping’.<\/p>\n\n\n\n

At the moment, the site, which has been operational for about a year, has about 200 sellers based mainly in Lebanon and the UAE and offering a range of about 5,000 products. ‘To date, we have received about a thousand orders and have found that 47 per cent of users return to the platform to buy again within three months of their first purchase. <\/p>\n\n\n\n

Pyckd is also in the fundraising phase and is looking for around $700,000 <\/strong>to have an operating margin of at least 24 months and to continue the development of both the technology platform and the markets: ‘our mission is to become a regional platform, today 60 per cent of our customers are based in the UAE, but we have already defined the actions to expand’. <\/p>\n\n\n\n

Handicraft products and local small businesses represent a $15 billion business in the MENA (Middle East and North Africa) region. Saudi Arabia, the United Arab Emirates and Egypt are the three largest markets. With e-commerce in general growing globally, MENA and the GCC (Gulf cooperation council comprising Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait) are expected to grow 64% and 47% respectively by 2027. With precisely Saudi Arabia and the United Arab Emirates as the two largest markets in terms of turnover. <\/p>\n\n\n\n

“Today our main source of revenue is transaction-based commissions, we charge 20% or 30% commission depending on the level of service the seller requires from us. In the future, we will re-evaluate the business model and commission schemes, explore potential fulfilment centres to make deliveries faster, but also to expand revenue streams with on-site advertising, seasonal popups in shopping centres, implement ad rates and subscription services, explore the possibility of licensing or selling our Saas to other companies, and leverage the value of data that, in aggregate, can become an asset,” concludes Daccache (pictured).<\/p>\n","protected":false},"excerpt":{"rendered":"

The two start-ups, agritech and e-commerce, are supported by the NGO in industrial development and fundraising <\/p>\n","protected":false},"author":125,"featured_media":143299,"comment_status":"closed","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1346],"tags":[1375,1443,1332,1136],"companies":[2250,2251],"journalist":[1513],"class_list":["post-143300","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-must-read","tag-agritech-en","tag-e-commerce-en","tag-middle-east","tag-startup-en-2","companies-ayki-en","companies-pyckd-en","journalist-emil-abirascid-en"],"featured_sizes_urls":{"thumbnail":{"src":"https:\/\/www.startupbusiness.it\/wp-content\/uploads\/2024\/11\/George-Daccache-Photo.webp","width":150,"height":137,"crop":false,"srcset":false,"alt":"startup 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