Simularge

Cloud-based scientific engineering software
Startup name
Simularge
Web address
http://www.simularge.com
Founding date
March 2017
Incorporation
No
Total team member
2
Startup stage
Prototype
Category
Software
Sector
E-commerce & online marketplaces, Energy, Transport & automotive
Product usage or interact
Mobile/Tablet (iOS), Mobile/Tablet (Android), Server software (ie, databases)
City
Istanbul, Turkey

Elevator pitch

Simularge is a cloud-based engineering simulation software provider. Scientific code developed by founders performs 3D engineering calculations. It is economic with pay-per-use without licence fee and a workstation. It differentiates itself from others with its lean and revolutionary computational process, which makes it simple and fast. Plus, embedded platform enables e-trade of engineering work.

Team

Buryan Turan

Buryan got BSc from Nuclear and MSc from Mechanical Engineering. She has a reputable academic backgorund with 11 papers in literature plus 5 year industrial experience at GE Aviation as a Lead Engineer. She had Micro MBA on Strategic Management and Leadership. Currently she focuses on her startup.

Erhan Turan

Erhan has a PhD in Mechanical Engineering and Postdoctoral research experience in Computer Science, specifically in large scale computing. He is an expert in Heat Transfer, Fluid Mechanics, Multiphysics and Computational Mechanics. Erhan is currently a Tech Leader in GE Aviation for Thermal Systems.

Business

Business model

Target customer

Engineering Companies, Universities, R&D Centers, SMEs

Customer acquisition strategy

partnerships, social media, free trials, customer referral

Revenue model

1st source of income: software fee that is charged per hour of use
Pricing: Computation with 1 core costs 0.5$/hr (including MS Azure cloud expense, 0.08$/hr)
Profittable: ~6x profit margin
2nd source of income: 20% commission charged per e-trade of engineering wok on SimulStore
3rd source of income: Technical support and colsultation packages, beased on need
Financial Prediction: Expected annual revenue is over 30M $ at the end of 4 years, with just considering 1st source of income.

Market info

Market size

$ 5,200,000,000

Competitors

Competition

ANSYS is market leader with 1B $ annual revenue. Its licence fee is ~50,000 $/year-user and it needs a workstation to be installed. Its usage is very complex, too.
SimScale is cloud-based however it does not have its own code, just trades current solvers on cloud with web interface. Its computational process is not lean enough.
Simularge can beat these competitors with its low price and significantly lean computation process (no meshing step which takes ~50% of overall computational time).

KPI's

  • 50 no. users (1st year)
  • 10,000 core-hours to be sold (1st year)
  • 4,000 no. users (4th year)
  • 6,400,000 core-hours to be sold (4th year)

Startup traction

50, 500, 1500 and 4000 users in 1st, 2nd, 3rd and 4th years

Other information

- Member of ITU Cekirdek (Istanbul Technical University Early-Stage Incubation Center)
- Waiting for 150,000 TL Grant from TUBITAK
- Big Bang Startup Challenge 2017, quarter-finalist (in progress)
- In etohum's watching list

Team
Publication date: 24 September 2017