As the 2022 KPMG Private Enterprise Tech Innovator ended at the Four Seasons Hotel Kuwait at Burj Alshaya, ‘Bounce’ bested nine other participating companies to emerge as the country winner of the competition.
Bounce is SaaS platform, which serves as a mobile-first communication and management software for preschools, nurseries, and childcare centers by connecting administration, teachers, and parents through collaborative early learning experiences. The implementation of Bounce digitalizes daily operations and manual tasks such as student enrolment, attendance, invoicing, payments while enhancing communication with parents via features such as live chat, announcements, media sharing and daily and injury reports. Bounce has a global vision of accelerating the digital transformation of the early learning sector, starting with the MENA region in the first two years of launch and followed by a global launch in English speaking markets.
Omar Al Madani, CTO-Bounce, presented the pitch for Bounce where he explained the vision of the company, the revenue model, expansion plans, and marketing initiatives they’re taking. Alongside Al Madani on-stage was Muhannad Matouk – Managing Director, Bounce, along with his team of Ahmed Kawash, Nancy El Ali, Mohammed Abdi, and Mohammed Haissam, who supported the team on-ground.
SPARTS, a cloud-based platform that brings together garage owners and insurance companies, was declared the first runner-up, while Raha, a grocery-based start-up, was adjudged both the second runner-up as well as the People’s Champion. The People’s Champion was elected after a round of public voting where the audience was asked to score their favorite participants on the basis of six parameters.
Speaking at the event, Dr. Rasheed Al-Qenae, Managing Partner, KPMG in Kuwait, said, “I would like to congratulate Bounce on their victory, and wish them the best for the Global finale in November. My heartfelt congratulations also go out to the first runner-up Sparts, and Raha for being crowned as both the second runner-up and the People’s Champion. A lot of effort has been dedicated toward making this event a reality, so I am sincerely thankful to everyone who has contributed to making the 2022 KPMG Private Enterprise Tech Innovator in Kuwait a grand success.”
In a post-event interview, Muhannad Matouk, Managing Director, Bounce said “First, we would love to thank KPMG for hosting us and the judges. We are very excited. The team worked hard, and we are happy to win this award. We believe that we have a great product, a good business plan, and a great traction. Therefore, we expected to be among the top 3 in the contest and luckily, we won the first place.”
When asked about Bounce he further adds “We are just scratching the surface. This project is only two years old, and we are now planning for expansion. We have 100+ clients and in the coming years it will further increase. Our focus is now to enhance the customer support and take the product forward from there.”
The pitch-based competition was first announced nearly two months ago with the intent to provide deserving tech start-ups and early-stage companies invaluable exposure and give them the opportunity to pitch their business ideas and ambitions before some of Kuwait’s finest industry experts — few of which were part of the panel judging the event. The panelists were Fadi Chalouhi, General Manager, Business Development at Boubyan Bank, Malek Hammoud, Chief Investment and Digital Transformation Officer of Zain Group, Ankul Aggarwal, Partner and Head of Deal Advisory, KPMG in Kuwait, Mohammed Bader Abulhasan, Vice President of Technology and Telecoms at Gulf Investment Corporation (GIC), and Abdullah Hamad Al-Jouan, Managing Partner at Gusto Group Food Services.
Along with the pitches, KPMG in Kuwait also provided booth spaces for all the finalists who used the platform to network with the delegates and other finalists. The delegates, which consisted of Investors, PE Houses, delegates from Korean and German Embassy, and the big Family Businesses from Kuwait interacted with the finalists to understand their business offerings and how they can strike a mutually beneficial partnership.
Ankul Aggarwal, Partner and Head of Deal Advisory, KPMG in Kuwait, said, “I am truly amazed by how the event has turned out to be, considering this was a first for KPMG in Kuwait. I am hopeful that the platform we were able to provide through the means of this competition will create a positive impact on the growth journeys of all the participating companies, especially the winners Bounce, Sparts, and Raha who are doing their share to innovate and disrupt their sectors. Furthermore, the networking sessions gave the finalists a space to talk to the guests in a non-formal set-up allowing a free flow of thoughts and ideas. KPMG in Kuwait is committed to supporting the growth of the start-up ecosystem in the country and this event is surely the starting step towards this journey.”
Having proved its mettle as a tech innovator in the country finals, the edtech start-up Bounce will now be competing for the global title, along with other tech companies from more than 30+ countries who won their respective country finals. The overall winner will also feature in KPMG’s ‘Winners Report’ and get to network with investors, industry leaders, and even other businesses in the same field. The Global finale is slated to be held in November at Web Summit in Lisbon, Portugal. It is worth mentioning that Brazil’s agritech start-up Krilltech NanoAgtech was the winner of the 2021 KPMG Private Enterprise Global Tech Innovator competition.