We hope your June was better..

Alright,

To make this month’s newsletter interesting for more readers we are testing a new, more interesting format. We will talk about the “good” stuff, the “not-so-good-almost-want-to-cry” stuff, plus some insights we learned during that month.

We would love to hear your thoughts on this format to see how to improve the way we talk to our family, you!

The good

We led the first InsurTech informative session in Palestine in partnership with Bank of Palestine’s Intersect Hub in Ramallah.

We went back to the whiteboard and redesigned our pilot to be quicker, achieve better results and scale more rapidly. (More information on this soon).

We had our first expression of interest from an insurance company to invest in Naviatx

We have 2 contracts with insurance companies cooking, one in the local Palestinian market and one abroad.

We created new local partnerships that grant us access to a wider pool of resources and opportunities. Main partners include Intersect and Fikra innovation hubs.

When the going gets tough..

The unpleasant:

We received official emails from 2 insurance companies that they want to adopt our safe-driving app, Maslak, then a day before signing the MoUs they bailed out for no convincing reasons

The previous pushed our pilot timeline back and forced us to redraw our pilot plan (was a blessing in disguise)

The non-objection letter we received from the PCMA is about to expire without us launching the pilot which lights a fire under us (I think the hotter the better for us to move our asses)

..The tough get going💪

What’s next?

Reconcentrate on putting Maslak (our safe driving app) in as many hands as possible, collect as much data as possible, and aim for big partnerships in the regional market.

File for an extension with the Palestinian Capital Market Authority to test in Palestine.

Give more attention to grant raising as bootstrapping is putting more and more pressure on the startup.

Begin interacting with investors in the local and regional market to speed up our post-pilot launch and grow rapidly into the Arab world and hit our next milestones.

Lastly, our monthly reflection

  • Again, there is no contract until a contract IS SIGNED
  • Focus on what you do, celebrate the external attention but don’t long for it
  • Most of the startups don’t make it, mostly because of timing and commitment when things get hard, not necessarily a bad idea.
  • Founders’ mental health is a focus that all stakeholders should consider and keep in check as it is one of the biggest performance drivers.
  • Thank you for your time and endless support,
  • Naviatx team

--

--

--

Founder & CEO of Naviatx. Bringing auto insurance in the Arab world to the 21st century

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

An Interview With Kamel Belkadhi, CEO of LandEx

Founder’s Stories #1 — Patricia Manella and Not Your Business

Why I’m Taking Almost A Month Off Work

Innovation Methods: the What, Why and How

Nick Mathews of MainVest: How We Plan To Rebuild In The Post COVID Economy

A social construct: the societal expectations of being a huge success before a certain age

3 Ways to Build Confidence as an Entreprneeur

Nigeria Announces MEST Africa Challenge Country Final Winner

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Hamzeh Ghosheh

Hamzeh Ghosheh

Founder & CEO of Naviatx. Bringing auto insurance in the Arab world to the 21st century

More from Medium

LOW COST ECOSYSTEM IN ANDUSCHAIN Every Blockchain is built around an ecosystem.

Rethinking insurance for the sharing economy: Why we invested in Omocom

The Great Resignation: How to Prevent Your CAD Files From Leaking?

MEET THE TEAM: Christopher Gomez | Junior Editor/Producer