"El-Mawkaa is a platform that engages between all construction industry stakeholders. We offer services to construction industry which is why we believe that we have a great opportunity in leading the market in our field "
The average contribution of the construction industry to the GDP reached 7% and in Egypt reached 300 billion pounds and 8% growth in 2017. This is according to the statistics issued by the Central Bank of Egypt. This means that the construction market in any economy is large, but facing many problems. Therefore, we have decided to serve as ask.com platform for the construction market.
One of the biggest issues encountering the construction community is the lack of communication between the construction market stakeholders. Some international journals such as Digitalist highlighted such problems. We as engineers have faced and suffered from this problem.
As a team, we conducted a market-based research and we reached the following conclusion which is: We need a platform to serve as a hub for all construction market stakeholders.
Since we firmly believe in the following saying: A crappy MVP is better than perfect survey, and in our first MVP of ElMawkaa App any person interested in the construction domain such as (but not limited to) skilled contractors, suppliers and engineers can:
● Know the latest prices
● Submit online bidding
● Gain and share knowledge
Our target market is the MENA region, which is home to 381 million people out of which 60 million people are engaged in the construction market and this is called the Total Available Market. After conducting our market research, we found out that our Serviceable Available Market is 10 million out of which 700K are our Serviceable Obtainable Market in the first three years.
ElMawkaa App has reached 22K downloads and has gained access to 10 MENA region countries at a daily 1000 active users and rating of 4.7.
How to get money? Actually, we have three main streams:
1. Online bidding which targets companies and individuals, for example, if you have an apartment and you would like to furnish it, but you cannot find the effective Engineer or the effective contractor. So, through ElMawkaa App you make a bid, state your budget and the required specification. Accordingly, Engineers and contractors start bidding. For example, a contractor might say I will furnish it within a month for 100k pounds; another might bid furnishing it for 90k pounds within two months. All you have to do is to pick the right person according to the rating given.
2. The second main stream is E-commerce through which suppliers sell and deliver to the targeted customers.
3. Third mainstream is ADS.
When we finished our competitive analysis, we found that there are indirect competitors, but they were not able to solve the main challenge facing the construction community in the MENA region. This is our edge that we can solve the problem of "lack of network".
The marketing strategy is that we can communicate with our customers through effective channels, such as engineers, through the Syndicate, life events and contractors through the Arab Contractors Union. Of course, we utilize the latest technology such as SEO tactics and social media campaigns.
The key strength of our team is that it is composed of different backgrounds: Mohammed Ayman and Mohammed Ayman are Civil Engineers and Business Developers; Mustafa Khaled and Iraqi are Software Developers; Ibrahim and Mahmoud combine both backgrounds, and we have interns that help us in our needs.
During the past period, we took important steps in order to reach our goal. We did a market analysis; we launched 2 MVPs through which we got to know that there is a real need in the construction market. We also made some modifications in our plans as we believe that we should put the customer in the driver's seat. The next step is to start an E-commerce system and approach suppliers. Following, we will work on online bidding.
Our Road Map is as follows:
-In the first year, our focus is placed on the Egyptian market. We aspire to disseminate awareness among 100k out of which we target 60 thousand bids and 30 thousand transactions.
-In the second year, we will expand to cover the Saudi market to connect a 300k user with a target of 120k bids and 65 thousand transactions.
-In the third year, we will expand more in the UAE and Oman and reach 700k users.
In the fourth year, we will reach the entire MENA region.
Therefore, there will be a million users out of which we target 300 thousand bids, 200 thousand transactions, and 350 thousand ad spaces.