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“Take every rejection as an opportunity to learn and improve your startup”

“Take every rejection as an opportunity to learn and improve your startup”
Foto: © Xibit

Interact with your own body language? Consume art and cultural content in such a way that you can get in touch with other people and make contacts? This is what Xibit is all about, a new platform founded by Zakaria Jaiathe and Abdeljalil Karam. This year they are part of the Investors Lab. In part 6 of our interview series we ask the company: How did the idea of Xibit come up and how does the business model work? And why should investors invest in a company like Xibit? 
 

Kreativwirtschaftsberatung: Hi Zakaria and Abdeljalil, first of please introduce yourself: Who are you, what do you do, why should people know you?

Zakaria: Hi, we are the founders of Xibit. I worked as a technology executive advisor for the SAP leadership in AR and VR and I'm very passionate about developing VR, AR and MR. 

Abdeljalil: I’m a design thinking coach, engineer and previously co-founder of the Hybrid Thinking Academy. Xibit is a B2B Saas (Software as a service) platform to bring art experiences to any space using augmented reality. 

Kreativwirtschaftsberatung:What's so special about it?

Zakaria: First of all, we are reinventing the human computer interaction (HCI). In this context we have built an interface where individuals won’t need to click any button, scroll, or type any information as they may do in other desktop or mobile applications. They can interact within Xibit using purely their body language. What we do behind is tracking their hands, eyes, and other contextual information to continuously predict what they want to do. we recently won the beautiful software award from companies like McKinsey, SAP, TechStars and others.

We have built an interface where individuals won’t need to click any button, scroll, or type any information as they may do in other desktop or mobile applications. They can interact within Xibit using purely their body language

Abdeljalil:Another aspect is that we are bringing art and cultural content again to the youth, using innovations that they are used to. Xibit will be a social platform where young people won’t only consume art and cultural content, interact with it, but can also connect with other individuals on the platform and socialize.  Last but not least, our solution is 10x -100x cheaper for businesses compared to the existing solutions as of today.

 

Kreativwirtschaftsberatung:You applied for the Investors Lab this year. Why should investors invest in a company like yours?

Abdeljalil: They should invest in us first of all because they are passionate about art, culture and innovative technologies. Moreover, we believe that we have validated a lot of our initial assumptions and are ready to scale. By investing in us, they would invest in a successful startup that has proven a lot of traction and got a lot of attention from customers, media as well as the art and culture market, not only in Berlin, but all over Germany and other countries. We have just been last week selected as one of the top 100 founders, creatives and builders in the Dach Region by Business Punk. 

We believe that we have validated a lot of our initial assumptions and are ready to scale. By investing in us, investors give their mony in a successful startup that has proven a lot of traction and got a lot of attention from customers

Kreativwirtschaftsberatung:What do you expect from such an investment in your company? What steps do you want to take afterwards?

Zakaria:This investment will help us scale fast, and this is what we exactly need at this stage. Hiring the best talents, building more features and acquiring new customers. We are now looking to onboard software engineers in the team who can support us in building our backend, and launching the mobile version of Xibit. We are, as well, planning to strengthen our sales and marketing team to meet the size of the opportunity we see today in the market.

Kreativwirtschaftsberatung:How do you build a business like yours? Which hurdles have to be overcome? What do I have to be aware of? Which financing strategy do you pursue or which financing methods have you used to build up your business so far?

Zakaria: First of all, I would like to ask anyone before they want to start a business, “why they want to do that?” It is very important to know the real motivation behind, because the startup journey is very long and challenging, so you better choose something that you are very passionate about. What I think is very helpful is to find a co-founder that you trust and can rely on.  You should, as well, be prepared to a lot of rejections, but you should never take it personal, but rather as a new opportunity to learn and improve. For that, always, ask for feedback, and try your best to know it. We have been bootstrapping so far at Xibit, but we are looking for an investment right now to boost our business.

Kreativwirtschaftsberatung:What do you expect from the Investors Lab? Where and how do you see your future?

Abdeljalil:Communities and networks are very powerful and very important for startups. We cannot go through this journey alone. Thus, being part of the Investors Lab framework is very important for us, not only to meet other investors, but to connect with more people, in the city of Berlin who are either working on creativity or supporting it.

We look forward to learning more tips, improve our pitch and become an even more successful startup.

 

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