Highlights
Team
+2 new employees to the development team
Funding
Initial approval for 1M* QAR Fund from QSTP
*Money will be received by february 2021
Quarterly Investors Report
Q3 2020
Items we need help with
- Marketing/PR ideas for Supreme Committee project (More details below)
- New funding leads, contacts, possible low interest loan options (Loan payments to be covered by PDF in 2021)
- Possible support with exceptional entry applications in case development activities require our travel
Financials
Quarterly Burn Rate
Remaining Balance
Revenue
$24,012
$18,464
$40,000
- Remaining Balance is accounting the full investment amounts
- Reduced founder salaries to extend cash runway
- Founders are resorting to loans from friends and family to cover development tasks
- Starting pre-order campaign to help fund development costs
- Revenue from Ooredoo project is not yet secured
New Hires
Bahaa Khaled
Game Developer
Bahaa is an enthusiastic game developer, he is helping us create games and is extremely excited by Bonocle’s mission to improve accessibility for the less abled communities
Giorgio Mastropasqua
Industrial Designer
Giorgio is an experienced industrial designer who has worked with startups and companies in Europe and took their products from prototypes to manufacturing. He will be helping us make updates to the Bonocle enclosure and creating the final design to be molded
Product Development
Launch Pre-order campaign
We are working on launching our pre-order campaign through our website. This will allow us to finally start focusing on marketing Bonocle as a fully functional product and start getting paid traction ASAP.
Hardware Development
With our newly hired industrial designer, we will start finalizing the final enclosure design and electronics design
software development
Great strides happening in the software development, we are looking to continue to grow our team to ramp up our app production. We have many ideas and projects and just need to grow the team to work on it.
manufacturing updates
Our team has been studying manufacturing options and learning about the requirements and challenges to ensure a smooth experience. Already expecting quotations from multiple manufacturers.
Ongoing Projects
Ooredoo
We are still following up with Ooredoo regarding the implementation of the project. We are facing some resistance from the technical development team as they are avoiding additional work. We are trying with them one last time before escalating it to their management
Supreme Committee for Delivery & Legacy
We are looking into working on a project with the SC team. The goal of the project will be mainly PR and marketing related. We are still brainstorming ideas and pitching project ideas to the management team prior to submitting a fully detailed proposal.
Thank you
for believing
We are as close as ever to launch. Bonocle is nearing completion and it’s all thanks to your support. It is what drives us to continue to work and push ourselves regardless of what is needed and we won’t stop.
Please get in touch if you have any ideas, concerns or just for a quick chat