Five key things your blockchain project should have before pitching it to NEM Ventures’ Incubation Program “Ignite”
Pitching is hard. You work hard on your project and you’ve got innovation in your heart, but there might be some undeveloped parts of your plan. Or maybe you didn’t know how to make you and your team shine on the paper. Or plain and simply, your presentation is lacking what in show business calls pizazz.
Pitched projects should combine showing their main strengths, while tackling what investor committee’s are looking for in the new projects and ideas they receive. The NEM Ventures team wants to help you gather and organize your thoughts to make sure the pitch is just right.
There are tons of articles about preparing yourself for investors’ pitches — but if your goal is to pitch to us, the article you need is the one you’re reading right now.
NEM Group includes NEM Ventures, a team ready to help you with your ideas. NEM Ventures’ Ignite incubator acts as an initial soundboard that will help you fine tune your business plan. It also provides tailored business mentoring and financial support for early-stage blockchain projects building on either NIS1 or Symbol, and an investment of up to USD $10K for participating.
The Ignite program additionally provides support for entrepreneurs, such as advice, contacts, capital, credentials, and a community at hand to host your project and incorporate it into the ecosystem.
So, you’ve decided to send your application to Ignite?
5 key things your blockchain project should include
- An idea that you can get across
We want a clear idea that can be easily explained by the team presenting it. Forget all the jargon, fluff, buzzwords — simply leave the core idea in its purest and rawest expression to create a value proposition driven by the advantages of blockchain.
It’s time to get creative, share your vision, and explain it comprehensively. Remember, we’re blockchain experts too, and we’re as confident as you about all of the promises its application holds. Please, explain to us, in your own words, a robust real-life application of the technology, how to impact the market with it and make it commercially viable.
- A strong team
You should be able to rally capable teams around you with great ideas and exciting projects. That’s why your pitch must include a team presentation which shows their strengths and how they complement each other to bring the idea to life. Above all, they have to have a clear strategy and a solid working in their direction.
In addition, you should also hold enough credibility to convince the committee you can actually make your proposal a reality. Make sure to link the team’s past work with your current project and highlight extra support or strong advisers that you might have had along the way.
This is exactly why we ask you to provide a video presentation of the team as part of your application to Ignite. We want to see you in person, talking with each other, and being excited about your project. Your application is guaranteed to get some extra attention.
- Do your homework
Startups often present themselves to investors with an idea, a vision, or a project based on current market speculations. And we’re not saying that’s not important. But it’s fundamental that, from the start of the project, you back up the rest of your project with cold hard facts. Sprinkle your proposal with current, accurate market data, and make sure that you can back up everything you put forward.
- Technology and the real world
What is your idea’s application in the real world, and how exactly will it enact a change in day-to-day life?
If the basis of the idea is the blockchain, explain why. If not, you should be able to get your idea across without even bringing blockchain into the conversation. It may sound contradictory to the title of this post, but it’s not.
Many startups tend to highlight their selling point by saying ‘tokenization’ or ‘blockchain’ when that’s just the technology that makes it happen. Where’s the edge? What’s the customer’s problem they are trying to solve? Find the problem, find the solution, and then apply the technology that enables it.
- Benefit for the community
NEM is an ecosystem that comprises a series of communities around our two blockchains. The projects we seek must strengthen these communities in one way or another. Anything that helps us present your project to the community and explain why we support it will benefit you in the long run. Make sure to bear this in mind from the moment you put your idea on paper.
How to join the Ignite program from NEM Ventures
To present your project to us, simply access our website and check out the requested requirements. It is pretty straightforward; You only need a business canvas, a pitch deck, and a video introducing yourself and the team. We love seeing the people behind the ideas and feeling the enthusiasm for their vision and the future.
At NEM Ventures, we pursue well-planned and commercially viable opportunities that add value to the NEM ecosystem and have the potential for a positive business return on investment. By following the simple steps laid out above, you (and your ideas!) will be on the right track.
Sharon Rubin presents ignite: https://www.youtube.com/watch?v=iAW417Ym8BQ
Dave Hodgson: https://www.youtube.com/watch?v=DuqpJpJZVxs&a