The concept of the sharing economy – goods or services shared through the use of the Internet and mobile apps – has really come into its own over recent years. Now the disruptive ride share app ego has been named by Business Worldwide Magazine in its list of Top “20 Most Innovative Companies to Watch, 2020”.
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The list is a celebration of the trailblazing organizations that are changing the game in their respective industries, altering the corporate landscape in the process. Whether it’s banking, industry, healthcare, energy or more, these companies are at the cutting edge of breakthrough technologies, innovation and modernized business structures. Those included have a shared goal of developing revolutionary products and technology that drive scalable business models and disrupt established industries and markets.
Sharing economies have disrupted established industries, particularly when it comes to transport. Services like Uber and Lyft have been heralded as the 21st Century’s alternative to traditional taxis, and founder and CEO of ego (Egoless Enterprises Inc.), Nabeel El Khafif has played an important part in this transformation.
Founded to respond to the significant opportunities presented in the Canadian market, ego is a new rideshare company currently operating in Toronto. The app gives customers the freedom to order on-demand transportation from their phone instead of having to call a cab. As a local alternative to Uber and Lyft, ego has fostered quick adoption from Canadian users by offering better rates, more experienced drivers, and environmentally friendly vehicles.
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Although Uber and Lyft have already established themselves as market leaders, the lack of significant competition means ego is strongly positioned for real success. In Toronto alone the gross transactional volume of ridesharing is over 720 million Canadian dollars per year, representing a significant growth market. Secondly, with the majority of Canada only now opening up to ridesharing through legislation it seems that ego has arrived in the right place at the right time.
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