For student-entrepreneur Omar Waked, being late to a chemistry final his freshman year sparked an idea that would later become the foundation for his business.
Waked is a senior at Portland State University majoring in Civil Engineering and the co-founder and CEO of Raedam, a technology-fueled parking solution that helps drivers find an available spot more quickly. The day he almost missed his final, not being able to find a parking spot for 30 minutes was frustrating, and Waked knew he was not alone in experiencing this. That’s when he decided to do something about it and developed the idea for Raedam.
Here’s how Waked explains Raedam: “It provides scalable hardware that collects real-time data, paired with our mobile app that helps individuals streamline and automate tasks such as guidance to parking and automating payments.”
Raedam was created through the help of PSU’s Cube Program. The Cube is a four-month-long program that helps students turn their prototypes into reality, preparing them for launch by the end of the program. Currently, Raedam is in development. “We are testing a new method of acquiring real-time data in a far more scalable form than we previously worked on. We have an IOS mobile app for individuals to use to be guided to available parking and payments for supported locations,” Waked said.
We asked Omar about his business and experience at PSU.
“The CUBE should be the first place you look to for support, help, or guidance as a student entrepreneur.”— OMAR WAKED
How did The Cube program help you?
“The CUBE has provided a foundation for support and guidance in my entrepreneurship journey. Access to mentors with experience in various industries, a group of other student entrepreneurs to connect and learn alongside, as well as the information shared through credible and knowledgeable in the subjects have provided for a more supportive and effective journey.”
What is some advice you can offer to other student entrepreneurs?
“Anyone who plans to pursue the route of entrepreneurship needs to have conviction in what they are doing. You will be faced with rejection throughout your journey, and unless you have the drive and conviction to see your ideas and dreams come into existence, you will be overburdened and eventually quit. It will not be fast nor easy, especially going at it alone. Find people who you enjoy working with, people who will support you and help you reach the finish line. The CUBE should be the first place you look to for support, help, or guidance as a student entrepreneur.”
“We are looking to bring on additional members to help with ramping up our developments. We plan to deploy our hardware this year at various locations and begin gathering feedback from individuals and businesses to fine-tune our products and services to provide the best experience possible as we expand.”
“I would like individuals to spend more of their time on things that matter— OMAR WAKED
and I can assure you, parking is not on that list.”
Waked anticipates graduating later this year and plans to continue to develop and expand Raedam beyond Portland. “I would like individuals to spend more of their time on things that matter and I can assure you, parking is not on that list,” Waked explained.
— Autumn Barber
This is one in a series of profiles about students in the Cube program, a four-month intensive course that is designed to prepare student entrepreneurs for launch and go-to-market for their companies.