Falcon Eye Drones reaches for the stars with mega deal
Crucial deal allows UAE SME to rank among largest providers of drone services in the world
Rabih Bou Rashid, Managing Director of UAE-based SME, Falcon Eye Drones, speaks exclusively to GN Focus after cementing a strategic alliance last month with Aerodyne, a global leader in drone services
Please share some details on the amazing deal FEDS signed with Aerodyne of Malaysia earlier this month.
Aerodyne is a global leader in drone services and solutions, and Falcon Eye Drones (FEDS), the Middle East leader. Both companies had ambitious plans for worldwide expansion. Aerodyne already acquired a few companies on almost every continent and when they had their eyes on the Middle East a partnership between us was a no brainer, there were a lot of synergies between the two companies in almost every sense, our short- and long-term plans were aligned and so were our business models.
The collaboration marks the first-of-its-kind deal in the region and one of the biggest in our industry internationally. This partnership will cement Aerodyne as an undisputed number one company in the world, and it will help FEDS further strengthen its leading position in the Middle East in the areas of Drone Technology, Data Technology, and Digital Transformation.
The collaboration marks the first-of-its-kind deal in the region and one of the biggest in our industry internationally. This partnership will cement Aerodyne as an undisputed number one company in the world, and it will help FEDS further strengthen its leading position in the Middle East in the areas of Drone Technology, Data Technology, and Digital Transformation.
Are there any breakthroughs that FEDS achieved within its product portfolio in recent months or any launches you have planned?
Since inception, FEDS has been achieving a very healthy year-on-year growth, almost doubling every year. We have huge plans for 2020, and while the global crisis did have an impact, we are still going with our plans. In the last few months we increased our business development department and are getting ready to hit larger parts of the local market. We are also in talks to have physical offices outside the UAE. We are already in Saudi Arabia and have our eyes on two more countries this year.
How is drone technology helping the UAE wage war against Covid-19? What is FEDS doing in this space?
COVID-19 has prompted more usage of drones, especially in the UAE. In this respect, FEDS has shown its utmost support to the government through advocating the utilisation of drone technology, especially in the fight against the global pandemic. Drones possess the capability of reaching the most hazardous, remote, or widest areas with little to no manpower required – a reason drones are being optimised globally, especially in law enforcement, agriculture, commercial, and the health safety sector.
Recently, we’ve been seeing how the UAE is leveraging the full potential of drones. Authorities deploy them to disinfect various areas in the country as part of the National Sterilisation Programme; disseminate relevant announcements and information about the disease, and monitor residents who violate movement protocols during the #StayHome campaign.
What are the challenges you faced while breaking ground in a sector that is considered revolutionary, yet evolutionary?
That’s a good question; we faced two main challenges, market penetration and regulations. You need to realise that back in 2013-2014 drones were unheard of as a commercial tool for business, along with which regulation for drones did not exist. When we first set up in Dubai, the regulators and authorities were welcoming and accommodating, but we had no clear guidelines to regulate the usage of drones.
On the first challenge, convincing businesses to convert to a new tech was not easy, and even today, many still resist, choosing to stick to what they know rather than advance. That being said, we did have some early adopters which allowed us to prove, in real life, how effective this new and emerging technology is and allowed us to survive the start-up phase of our company. On the second challenge and as drones started hitting the consumer market and the hobbyist, a lot of misuses began to pop, leading to some incidents including the first airport shutdown in DXB in 2015. Sadly, every time a hobbyist broke the rules, the legal operator had to suffer the aftermath of increased and toughed regulations.
Today we are in a better place, and the current challenge is to keep evolving with the technology to stay ahead of the market.
How has the UAE Government supported FEDS in expanding its operations and capabilities?
The UAE government had shown its support from the early days. When we first set up in Dubai we approached the DCAA and the GCAA and the local police, asking and inquiring about the legalities, and even though no published laws existed they allowed us to set up and operate under their supervision. When the time came for the regulators to publish the rules, they did so in record speeds, which only minimally interrupted business, when we compare this to other countries that took years to publish the laws, stalling the drone industry in those countries. The rulers’ vision in the UAE is what allowed us to grow so big and stay ahead of European and American companies.
How easy or tough is it for a prospective entrepreneur to set up shop in the industry here in the UAE?
It is very easy to set up in the UAE; the country is a globally renowned first-rate business destination. Its investor-friendly and robust business ecosystem have motivated many start-ups, including FEDS, to establish operations here.
In general, entrepreneurs must realise that no business became successful out of mediocrity. The core ingredients are team, timing, idea and money. Surround yourself with a good team, pay them well and love them a lot, nobody can build a business alone. Make sure the time is right for the public to accept your idea, drones are a good business today, but with automation and unmanned vehicles on the rise, will the Drone-as-a-Service concept exist in five years? So, having a great idea or concept is great, but applied at the wrong time can lead to failure. And of course, money management.
One of the big mistakes entrepreneurs make, including myself, is underestimating how much money they will need. My advice is once your business plan is done and you know exactly how much money you need, double that number, and you will probably come close to what you actually need, and once you have the cash, spend it all and go big, assuming you have the first three points well covered. In my opinion, that is how you become a success story.