What they do:
Regen-R8 is developing the first scalable, cost-effective, and technologically enabled on-demand renewable energy platform in the MENA region. They want to make renewable energy sources more widely accessible, by eliminating the need for any initial capital investment and specialized technical knowledge on the user side. Regen-R8’s distinctive design and operating model make it more accessible for businesses operating in low-cost environments, such as farmers and SMEs who lack the resources to finance clean energy.
“We had reached a point when it was critical for us to further validate our idea, obtain commercial support, exposure, and access to clients and potential investors. To go from the bootstrapping phase to the real growth phase, we needed both a strong MVP and a working business and financial model that is investor ready. We are thrilled to have been chosen because the program supports our company’s needs, and we received more than we expected.
So far, we have put a lot of effort into developing our business model and creating a strong financial model with accurate predictions of our company’s overall performance. We focused on researching growth and market expansion strategies, and effective sales and marketing techniques, and most importantly we approached businesses for partnerships, talked to potential customers to better understand their needs, and engaged with them to better position our offerings to meet those needs. Increasing our consumer base and expanding our business would be two significant success factors.
Our major achievement is that our pilot project proved to be very successful, and our customers are very satisfied with our offerings. This is very crucial to us as we firmly believe that satisfied customers are a key pillar for a successful company. Our satisfied customers will surely act as our brand ambassadors and help in fueling our organic growth.
Given that we primarily work with farmers who have limited knowledge and access to technology, it can be difficult to ensure that our customers can truly benefit from the IoT component of our product, which was designed to speed up the troubleshooting process and reduce technical issues and downtime. We hope that using Regen-R8 will be a positive experience for our customers.
We turned to focus group discussions, which concluded in a gap analysis that gave us insight into the farmers’ technological prowess and the platforms (website, mobile app, etc.) they felt most at ease utilizing. We will make sure to adjust our offering to their needs utilizing their feedback. Additionally, we intend to train the farmers on how to use the tools.
We have three main short-term milestones we hope to achieve by the end of the year: scaling our business by bringing in three additional Regen-R8 units, starting the mobile/web application development, and securing more funding to sustain our operations. Additionally, we have long-term goals we want to accomplish in 2023, diversifying our offerings to include different renewable energy sources such as biogas, scaling up to more than 15 Regen-R8 units, and geographically expanding to new markets in the GCC and North Africa.
In the MENA region, the market for renewable solar energy is expected to be worth $30 billion, and we are committed to gaining a sizeable market share. We highly advise other startups who meet the program criteria to apply and benefit from the plethora of business and technical support services provided.”
About The Cleanergy Accelerator Program
Berytech is catalyzing cleantech innovations through a yearly three-phase program that allows cleantech entrepreneurs to grow their startup from an idea into a scalable business. With funding and support from the Kingdom of The Netherlands, Berytech designed and developed the Cleanergy Program to make sure Lebanon has the most competitive companies innovating in clean technology. Learn more about the Cleanergy Program.
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