Modulus tech is on its way to introduce an environmentally sustainable housing solution that is time efficient and cost effective.
How did the idea of Modulus Tech come about?
The idea of ModulusTech came about in 2016 when the Syrian refugee crisis was at its peak. We noticed how there was a large influx of people in a short span of time in these crises, resulting in massive housing shortages. These people were exposed to harsh living conditions, exposed to all sorts of social problems and epidemics. The solutions that did exist in the world at that point in time were either too costly or took too much time to implement. Being Pakistanis, we could relate to their problems equally as well, with our own IDPs and people affected by floods and earthquakes. Hence, the idea was to find an environmentally sustainable housing solution that could be set up in minimal time and be cost effective. That is how Modulus Tech came to be.
As co-founders, what do you each of you do? What are your backgrounds?
All three co-founders studied Civil Engineering together at NED University, where the idea of the startup came about. Nabeel is managing the business and management side of things. Yaseen Khalid is mainly responsible for operations and M. Saquib works on the technology side. What do you believe is the biggest market for your products? The biggest market is the millions of people living without adequate housing today. According to a McKinsey report, the affordable housing sector is an 11 trillion dollar industry in construction costs alone. The solution you’re offering is very unique. How has the response been so far? Our solution is in fact very innovative and has characteristics superior than products available globally. We have filed patents on multiple aspects of the technology. We were recently recognized by the United Nations and various other organizations globally for our invention, we also won awards at the Global Cleantech Innovation Competition held in Silicon Valley. We were also recently selected by Techjuice in the 25 under 25 list.
Tell us about your prospective customers.
Our set of prospective customers includes governments and NGOs working on social projects; B2B sector for labor housing and site offices and B2C market for consumer products and stand-alone units.
What do you dream of achieving through Modulus Tech? Creating large-scale social and environmental impact globally. When did you (founders) realize this was the idea you wanted to work on?
The moment we tested the prototype and achieved significant results, we knew that this was something we needed to work on, mostly because of the potential for the technology to create social impact.
What would you say is the secret to finding one’s passion?
I believe passion finds you sometimes, as long as you’re honest to yourself. One needs to be foolish enough to pursue where your interests take you, no matter how impractical they may seem. We genuinely cared about the problems we wish to solve, and the impact we wish to create keeps us going.
What do you believe has been the highlight of your entrepreneurial journey so far?
The major highlight is being able to develop a technology better than other large business groups and organizations, who have been working in the sector for decades.
Where do you see Modulus Tech in 5 years?
We see ourselves being a large business capturing major markets around the world, while creating huge social impact. We aim to be a multibillion-dollar social enterprise.
See the full article here: Modulus Tech: A Social Cause Born through Innovation