Timing is often the biggest hurdle for aspiring entrepreneurs, but for Dubai-based entrepreneur Lara Varjabedian, co-founder of the social networking app UBQT, the decision came down to a simple yet effective formula. Varjabedian believes that when you’re just 1% more certain about your next step, it’s time to make the leap. This approach guided her own journey when she finally decided to join her friend Jonathan L. Hasson as a co-founder of UBQT in December 2023.
Varjabedian’s entrepreneurial path has been shaped by a series of bold moves, starting with her transition from a corporate career in the insurance industry to the dynamic world of startups. After being let go during the COVID-19 pandemic, she launched Kojo Innovation, a consulting firm in London, and later co-founded Thought On Paper in Dubai. These ventures not only solidified her expertise in bridging the gap between traditional businesses and innovative startups but also deepened her desire to create something of her own.
Now, with UBQT, Varjabedian is set on revolutionizing how over-35 global citizens reconnect with meaningful connections in real life. The app, which she co-built with Hasson, is designed to nurture personal and professional networks by facilitating in-person catchups, offering a refreshing alternative to the content-driven focus of traditional social media platforms.
UBQT and Its Vision
What inspired the creation of UBQT, and how do you see it reshaping social networking for global citizens over 35?
UBQT is the story of my co-founder Jonathan and me. The idea emerged because, although we had known each other for over two decades, we lost track of each other and didn’t realize we had been living in the same city for almost a year. Starting from that point, we realized that too often we miss the chance to catch up in real life with people we know simply because we are unaware that we are in the same city or place. We expected our early adopters to be people like us who have lived in different places and struggle to meet again in real life. As social media becomes more about media, some people get disconnected as they are bombarded with ads all day or content from influencers. The primary focus on 35+ comes from the fact that this specific audience lacks options nowadays, while younger generations are spoiled with various platforms like TikTok, Snapchat, or BeReal. However, UBQT is here to be your smart app for your social life. Our AI-enabled features will eventually convince not only the 35+ global citizens but anyone with a busy life who values IRL connections.
Transition from Corporate to Startup
How did your previous roles in the corporate insurance industry and at Prenetics prepare you for the challenges of founding UBQT?
The corporate world is the best school to start your career. Many young students dream of getting their diplomas and working for a startup because it looks more fun and exciting. The reality is that the startup environment often lacks structure, is unpredictable, and rarely follows any rules. The corporate world taught me to be creative in navigating the rules, politics, and opportunities. It is a highly structured environment, and although on the surface it might seem like it’s made for people who like structure, often those who excel are the ones with the most entrepreneurial spirit. Those who dare to ask, try, test, make mistakes, break the rules, and be creative are the ones who succeed in business.
After 13 years in the corporate world, moving to a startup allowed me to bring all my multitasking and multidisciplinary skill sets into one role. I could be working on contracts and agreements, marketing, go-to-market strategies, business development, pricing, logistics, and even procurement by negotiating with providers, all at the same time. My time at Prenetics was a significant learning curve, as selling genetic testing to insurers was not easy. Being part of a startup selling to big corporations is very humbling. My knowledge of how corporations operate was a great advantage. It was probably one of the most challenging roles I had at that point in my career, but it was extremely rewarding as I pioneered discussions between insurers and genomics in Europe.
After my time at Prenetics, I supported multiple founders with go-to-market strategies, fundraising, pitch decks, etc., and felt more than ready to do it for myself. Of course, working in a startup environment or supporting founders doesn’t mean you’ve done it all, but knowing how corporations and startups operate and being able to take the best from both worlds is a great starting point. UBQT is definitely the biggest challenge of my career, and that’s what excites me about it—building, growing, and pushing to another level. With the tech and business being highly scalable by nature, the sky isn’t even the limit. The network I’ve built over the years, the business skills I’ve developed throughout my career, combined with my entrepreneurial spirit, made me feel ready for this journey, no matter what the destination will be.
Freemium Business Model
What are the unique advantages of UBQT’s freemium model, and how do you ensure it provides value to both free and premium users?
Freemium users will continue to have access to the current version, while our premium model will offer more personalization thanks to our AI-enabled features to nurture your connections. UBQT aims to be your personal assistant for your social life—whether personal or professional. By not relying on media (like others do), we will push ourselves to be more creative in bringing value to our users. Ultimately, the best use of UBQT will be in the premium version, but with our monthly subscription costing less than a cup of coffee, we expect this will lead to a high uptake in our premium version.
Market Differentiation
How does UBQT stand out in the crowded social networking space, particularly against established giants like LinkedIn and Facebook?
UBQT stands out because we are designed for real-life catchups only. While LinkedIn and Facebook are more about users consuming content, UBQT has no scrolling, no chats with salespeople, no sponsored ads. It’s a closed network for your personal and professional—meaningful—connections. By staying away from the usual noise of typical social media platforms, UBQT perfectly complements these platforms. We are not here to replace them; we are here to bring a better tool so people do not miss a chance to catch up in real life. Imagine Calendly meets Facebook and LinkedIn in real life. We also have the unique purpose of being an app that people need to use as little as possible, which is the exact opposite of what these giants are doing. I believe we are launching at the right time because people need a place where they can actually organize their social life, meet IRL, without having to consume screen time. We owe this to society. It has to be available; it has to be possible.
Global Expansion
What are your plans for UBQT’s international expansion, and how are you adapting the platform to meet the needs of diverse markets?
UBQT is already global, and our top countries are the UAE, US, UK, Belgium, and France. There is no need for localization, as all our features are functional in all geographies, apart from introducing different languages at some point. Because there is no content in our app and our functionalities are pretty straightforward, we do not see this as an obstacle to growth in multiple markets. It’s all going to be about where we put our efforts first to move from organic growth to strategic growth.
Future of Social Networking
How do you envision the future of social networking evolving, and what role do you see UBQT playing in this landscape?
The future of social media is increasingly about media, as these platforms have replaced TV for some years now, with younger generations consuming information mainly from their phones. We have to create a new place for proper networking apps. UBQT’s primary target audience is 35+ because we know they are easier to win over, as they are less addicted to social media and ultimately dopamine. They are also the generation that didn’t have a phone until their mid to late teens and value IRL because they grew up without a virtual world. But we still believe UBQT will play, or even I would say has to play, a major role in showing younger generations the beauty of real life. Too many young people hide behind their phones, living an intense virtual life but, in fact, a very lonely real life. Behind these phones and the constant need to either film your moments or check what others have shared, they are less and less present, developing all sorts of addictions. Once ready, we plan to bring gamification to UBQT to support our vision of less screen time, more lifetime.
Early Influences
Can you share some of your early experiences growing up in the Armenian diaspora of Lebanon and Algeria that shaped your entrepreneurial spirit?
While the corporate world is the best school to start your career, the best school of life is traveling and being exposed to multiple cultures. Nothing can teach you more about the world and people than a diverse environment and discovering new cultures. My parents had a great influence on me, as I was born an expatriate and traveled a lot with my family. Although I was born in Lebanon to Lebanese parents of Armenian origin, I grew up in Algeria, speaking Armenian at home and attending a French school with multiple nationalities. That already made me feel that the world is my oyster.
My dad has been the biggest influence on my entrepreneurial spirit. Although he spent his entire career in a Japanese multinational as an employee, he was a proper businessman (now retired). I remember meeting his colleagues from Japan, and one of them once told me, “Your father is God.” I always wanted to be a business (wo)man like him. I remember taking his business cards and adding an “L” in front of his name—his name is Ara—so I had a pile of business cards reading “LAra Varjabedian – General Manager – Komatsu Ltd – Algeria.” I believe that this fortunate multicultural background, combined with parents who never made me feel that by being a woman, I should aspire to less, achieve less, or dream less, set me up in life with the mindset that “if I want something, I just need to work hard to get it.”
Overcoming Challenges
What were some of the biggest personal challenges you faced when transitioning from a corporate career to entrepreneurship, and how did you overcome them?
When you work for a corporation, you carry the name and brand of a big, established company. It’s your business card, giving you easy access to conferences and people you want to talk to. When you are an entrepreneur, the brand becomes you. To grow your brand, you need to put yourself out there. I am not someone who feels the need to talk about what I do; I am a doer. I just do what needs to be done all day. Neither am I someone who likes to put my picture out there. My Instagram account is empty, and the last picture I posted on Facebook must be from years ago. So when you don’t like that, you really need to push yourself, sometimes in an unpleasant way.
When I was a consultant in the Insurtech and Insurance world, I was basically selling myself. I had to grow my personal brand, which wasn’t the most natural thing for me to do, as it felt like I was making a lot of effort just to promote myself and my accomplishments. Over time, I got better at it, and while building my personal brand, I realized that it is just like anything else: it needs nurturing. Even though I was not the one who would naturally post on LinkedIn about what I do or where I am, or what’s my next project, I knew I had to do it. Now it feels more natural, and I realize that there is no shame in talking about what you do. However, I am careful to keep my posts and communications professional and business-related.
So, yes, the biggest challenge is realizing that you must put yourself out there and grow your personal brand. Your name becomes your brand and your company’s brand. The earlier you understand this, the easier your life will be as an entrepreneur.
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