Egyptian startup Interact Labs have come up with new innovations that could enhance the education sector. In a learning pyramid, the average student’s knowledge retention rate is only 5 percent after a lecture. With that in mind, learning can be transformed to be more interactive using simple tools. The startup came up with a variety of products that can improve learner interactivity and enhance knowledge retention. At the recent Episode 14 of The Nest – Egyptian equivalent to “Shark Tank”, the team got to see a picture of the company’s performance. The company got a $60,000 investment commitment from the angel investors.
Tact is a product that can be used on any flat surface. It is connected to your computer port in a simple plug and play way. Then the screen can then be projected onto a surface and interact with Microsoft programs such as Word, Excel, Powerpoint, Internet recorded lessons, and any other computer application that is often navigated using a mouse.
One of their competitor directives in the market is Go Touch UPI. Interactive Labs, however, distinguish themselves from the other market products by their portability, compact design, and durability. In addition, the product can cover a 3 meter-wide and 2-meter high display area. It also works with any type of TV screen, projector, and software.
With its flagship product, the company is currently serving more than 55 B2B customers in four countries across the Middle East, including a recent foray into Denmark. Tac targets schools, universities, NGOs, and Government agencies. Thus far the company has sold 470 units, generating over $150,000 in gross revenues. They are proud to share their 70 percent customer retention rate notwithstanding their current gross margins of 70 percent. The company has ambitious expansion plans targeting Europe and Saudi Arabia in the Middle East.
In 2022, the company will launch a new product called Pendo. It acts as an air mouse that allows the user to control the screen without having to touch on the screen.