Wave is a startup that offers electric bicycles with a subscription model for citizens to commute in an efficient way. Their batteries are recycled and repurposed at their end-of-life to be used as storage devices for solar panels.
Wave is not only eco-friendly; it is also stress-free. In fact, commuting with a wave bike helps avoid traffic, save money and stay healthy.
Energy Innovation Hub is a platform that combines unique ideas and innovative solutions in the energy sector, aiming to help power Lebanon. Wave, co-founded by Jan Willem and Palic van Hövell is currently enrolled in our Energy Innovation Hub where we offer financial and technical supports with partners as well as networking opportunities with industry experts and potential clients.
1. What inspired you to establish Wave? How did you come up with the idea?
For my work here in Beirut, I used to have meetings in different areas of town and was always stuck in traffic or struggling to find a parking spot. I’m from the Netherlands, so the obvious solution for me was to commute by bicycle instead. The cycling experience in Beirut was much better than I expected and I calculated that I gained one and a half hours every day! The advantages were so significant that I got excited and thought that more people should benefit from this as well. However, I started noticing that a suitable bicycle for Beirut, or for other dense cities in the region, was not available. Therefore, I took matters into my own hands: my team and I are on a mission to enable citizens of the greater MENA region to commute by bicycle.
2. What makes Wave unique and different from other solutions within the market?
We are not copying similar companies that are operating in Western Europe or the US. We have tailormade our bike and service to the geography, climate, and culture of the region here. We are first movers and focus on enabling people to cycle, which includes community building, road safety, and stakeholder management.
3. What are the challenges you faced while launching your business and how did you overcome them?
While sharing our initial idea to enable cycling in the greater MENA region, many people told us this idea was crazy and doomed to fail because “cycling is not in our culture”, “cycling is dangerous”, and “it either rains the whole day or you will get sweaty”. Besides that, due to the financial crisis, it seemed impossible to find the required investments to buy a batch of bikes and launch the company. But we were convinced that the concept makes total sense and decided to go for it anyway. Then, we convinced some friends and family to pitch in some money and, additionally, also the Dutch government to finance a pilot project. This pilot was overwhelmingly positive and kickstarted our company. Now our data shows that 88% of our clients are Lebanese and that our clients feel safe on our bikes.
4. In your opinion, what is the key to success? What advice would you give other startups in the industry?
If I could only give one key, then it would be perseverance. Starting a company is very doable, but you need a lot of dedication, passion, and so, perseverance. Besides that, it’s important that you keep working on improving your concept, continuously. Clients will appreciate that and potential investors will notice. Improve something every day.
5. What should we expect next from Wave?
To get more cyclists in the Lebanese and regional cities. Currently, we are working on getting more bikes in Lebanon and also opening branches in other Lebanese cities. Besides that, we are working on opening our first branch abroad, in Istanbul next Spring.
