On A (High) Growth Trajectory: Dany El Eid, Founder and CEO, Pixelbug

Being a pioneer means leaving tradition, taking risks, and being patient along the way- especially in the augmented and virtual reality space. However, for Dany El Eid, founder and CEO of Pixelbug, a AR/ VR tech startup founded in Dubai in 2012, staying calm and quiet, while making a trail in this industry has been a challenge more often than not. “I didn’t choose to be an entrepreneur,” he admits. “Entrepreneurship chose me, but I wish I had known how difficult it would be. Not that I ever imagined that it would be easy, but I also didn’t think it would require so much patience. The learning curve and adrenaline rush one gets from being an entrepreneur is incomparable. However, this truly is a marathon, not a race, so it is important not to compare yourself to others.”

Committed to his own journey and trajectory despite the hardships, El Eid first became known after releasing Colorbug, a family-oriented AR edutainment app that brings characters in coloring books to life, in May 2015. However, even before that, he had already had a few wins under his belt, such as introducing viable commercial AR applications for multinationals, including P&G, Nestle, Lego, and Atlantis, or working with Dubai Properties, a Dubai-based real estate master developer to create a virtual reality tour of the company’s Bellevue Towers, to name but a few. Yet, recent years have brought other notable achievements. In a bid to capture a larger market share with more cost-efficient options for companies with smaller budgets, Pixelbug, at the beginning of last year, devised an innovative business model, a hybrid of subscription and premium services. It helped them also attract international investors and land high profile long-term contracts.

At the same time, the Pixelbug team was selected to join Boost VC, the world’s leading AR/VR accelerator that is managed by Tim and Adam Draper, tech investors who have desirable stakes in companies like Tesla, SpaceX, Skype and Baidu. While taking part in Boost VC’s four-month acceleration program in Silicon Valley, El Eid also got invited to participate in the Venture Out program in New York. “This gave us access to the advertising and media giants on the East coast,” he says. “This was a major achievement for us since it exposed us to the fast-paced mindsets of the Valley and the Big Apple. As a result, we have built a network of top tier VCs from both the East and West Coasts.”

“TREP TALK
Three tips for entrepreneurs from Dany El Eid
1. Raising funds is good, but generating revenue is better
Focus on getting business and generating revenue, so you can hold off from needing VC money. This not only validates your product and market strategy, but also gets you close to your customers, who are most important.”

2. Start local, think global
“Use the region as a testing ground, and set up abroad, either North America or Asia, as quickly as you can. Unless, of course, you’re a localized “me too’ service or product. However, if that is the case, keep in mind that your market will remain small, relatively speaking. Not that one is better than the other, simply depends on one’s vision and objectives.”

3. Remember what they say about opinions?
“Avoid opinion overload, and stick to your guns. Have confidence in your vision, your purpose, and your capabilities.”

Related: Five Minutes With Entrepreneur Dany El Eid, Founder, Pixelbug