Cofound.it project purpose and description
What is Cofound.it?
Cofound.it is a platform that brings together people who have a strong belief in the power that blockchain technology has to offer, and teams that are building some of the most amazing blockchain projects.
For the longest time possible, brilliant ideas have always been associated with Silicon Valley. This explains why some of the top companies like Google and Facebook have been thriving. These are companies who have benefitted from being in the right place at the right time. It has always been about timing. What about those who do not have access to Silicon Valley?
Realizing that lack of access hinders the growth and progress of a lot of talented individuals, Cofound.it works hard to find exceptional entrepreneurs and experts who can be nudged to reach their potential. Bearing this in mind, Cofound.it handpicks some of the best projects and pitches them to the masses on the blockchain.
Through Cofound.it, anyone from anywhere in the world with an amazing project is able to make a pitch, and hopefully, find investment. This is an opportunity for people, developers and anyone else with an amazing idea to use the blockchain as a means of getting the backing they need.
Cofound.it brings together experts with years of experience and expertise in their fields of operation. Through a careful vetting process, millions of investors are in a good position to find and invest in projects without worrying about losing their money through illegitimate projects, as has been the case in so many scenarios in the past.
What is the problem that Cofound.it Solves?
Crowdfunding has been a spectacle over the years. Since 2016, crowdfunding has become a means through which people can get support for whichever idea they have.
There are so many crowdfunding platforms on the internet at the moment, raising thousands and even millions of dollars for a worthy cause, and in some cases, a not so worthy cause. It is about people who are willing to give what they can spare so that someone can realize his or her dream.
Crowdfunding keeps growing, and each year, more and more people invest in some of the projects that they believe will have a lasting impact on the world, or in someone’s life. Blockchain projects have also followed suit, leveraging ideas on crowdfunding. This explains why there has been an increase in companies and projects that raise capital through ICOs.
Between 2017 and 2018, a lot of blockchain projects raised capital through ICOs than any other form of financing. This concept on its own has turned heads, flipped the basic concept of traditional venture capital structure. Venture capitalists have since had to change the way they do things and look into engaging further in the ICOs. Gone are the days when people would approach a venture capital firm to fund their projects.
There are so many obstacles involved in this, and there is also the risk that the venture capitalist would impose certain terms and conditions for them to support a given project. Instead of allowing this monopoly of events, project owners are finding it easier to pitch the idea to the masses and source for funds. Given that the distribution of funds is so diverse, it is virtually impossible for any investor in the project to attain a controlling stake by virtue of the size of their funding.
However, even with the sudden shift toward crowdfunding, what is lacking in the crowdfunding space is structure, a service that makes sure people are not investing in a scam. There are so many people who have taken advantage of the crowdfunding space to launch dummy projects and fleece money from investors.
This poses an opportunity for a service that would bring structure into the crowdfunding realm, and this is where Cofound.it comes in. The role of Cofound.it is not just to establish a form of structure, but also to provide mentorship to the project owners where necessary. This explains why there are several experts onboard the Cofound.it project.
How does Cofound.it Solve the problem?
Cofound.it does not just connect project owners to investors, it also helps them get the support they need in terms of mentorship. A lot of people come up with brilliant projects, but by virtue of the fact that they lack the right mindset, they cannot see their projects to fruition. Other than mentorship, Cofound.it also connects the startups to early adopters, and evangelists for their projects.
One of the challenges that project teams experience during crowdfunding is that they lack the business language. Most of these teams are very good at the technological aspect of their projects, and the vision they have for the same. However, they fail in the business language.
Most of the people who support these projects and fund them expect them to hit the ground running as soon as they receive the funding. This becomes a problem, and soon they feel disappointed. Given that these teams are new to the element of growing a company and investors who demand results, Cofound.it bridges the gap between these two parties, making things easier for both of them.
In the case of the traditional investors who fund startups, a lot of them are currently left on the sidelines. The reason for this is because there is a lack of structure, diligence in the process of startup investment. As a result, they struggle to identify the ideal project that they can finance.
What Cofound.it does for this group is to put in place a secure and structured place that makes them feel safe especially for their investment.
Through this, Cofound.it is able to make sure that there is a constant flow of large amounts of cash to support the distributed economy.
Even with the growth and advancement of the internet, a lot of these investors still insist on working with local projects only, and for a good reason. They need to be in a position where they can actively monitor their money in use, and make drastic decisions where necessary. Such investors risk missing out on funding world-class projects thousands or millions of miles away from their local base of operation, another concern that Cofound.it is doing away with.
Token crowdfunding has been the in thing for a very long time. For individuals who are interested in supporting these projects, it becomes a challenge for them, trying to pick the right project to support. The success of most projects does not just depend on the technology or the idea behind it, but also on the goodwill of the supporters.
The tenacity and relationship that supporters have with the project will go a long way in making sure it becomes a success. Just by looking at a web page, it is virtually impossible for an individual to tell whether this is the right project to support or not.
There are a lot of promising opportunities that keep coming up, and scammers are also getting better at their game. Therefore, supporting projects is increasingly becoming a gamble. With Cofound.it, however, supporters no longer have to worry about this. Cofound.it takes up the risk of vetting projects and their project owners before they are allowed to pitch the projects to financiers.
What makes Cofound.it better than the competitors?
While there are so many options available, especially for those who are interested in crowdfunding, based on the challenges inherent to the crowdfunding market as a whole, the following are some of the reasons why Cofound.it is a better alternative.
One thing that Cofound.it does so well is the selection of teams. This is in realization of the fact that there has never really been a shortage of ideas, but selecting a team that can execute those ideas accordingly.
What Cofound.it does is to carefully choose the teams that have the highest potential for progress. The selection process is done through a careful analysis, thereby choosing some of the best projects that can be leveraged on the Cofound.it platform. This makes it an ideal option for project owners and the financiers. The projects on Cofound.it are reviewed by Deloitte, which makes this one of the most straightforward platforms for crowdfunding.
Preparation for Success
Cofound.it has a coaching and communication process that is streamlined to ensure that each team is able to successfully run a crowdsale and make sure that their project is up and running. This is also a good idea because it helps to overcome some of the challenges that are experienced by project owners, where they are unable to establish a good foundation upon which they can build their business.
Token crowdsales are a far superior way of financing a project compared to the traditional ways and for so many reasons. There is a bias in the startup financing world, where certain projects easily get financing over the others. For startups that are not in the top cream of the startup financing attraction, it is not so easy to raise funds.
However, with Cofound.it, these startups are now able to get the support they need. Through a successful crowdsale, these startups stand to enjoy similar benefits that they would enjoy from an IPO. Apart from that, the investor expectations are different, given that both the investors and the startup team are fully aware of the nature of their interaction.
One of the challenges that most startups experience is understaffing. This is, in fact, a problem that is common in so many instances pre-sale. Soon after the pre-sale, the teams would have to spend weeks if not months, trying to set their company on the right path, especially by defining new roles, hiring new members to their team and so forth. This is one of the most complicated experiences, and most startups struggle to deal with it accordingly.
Such startups can benefit from the evaluation team at Cofound.it. The role of this team is to define some of the important roles that the startup needs in order to launch the business successfully. This is through the coaching network and the rich team of experts on Cofound.it. With this in mind, as soon as the funds have been raised, the company can proceed to define roles, hire the right people for those roles and execute their plan.
How can Cofound.it be categorized?
Cofound.it is a distributed VC ecosystem, designed for a distributed future. It is a blockchain incubator for projects that are poised to have a positive impact on the world as we know it. Cofound.it runs as a self-sustaining business consultancy.
Cofound.it aims to become one of the most disruptive platforms, harnessing the ultimate power of the blockchain to shape the future, and leveraging this on the power of logical interactions. It is a project that is built for the blockchain community by the blockchain community and released to the rest of the world.
What’s Cofound.it’s vision on Security?
One of the things that Cofound.it has done so well is to enhance the security of the platform. By bringing on board some of the top brands in the market like Deloitte, Cofound.it has a robust security auditing system.
This is important in order to support the framework for project owners and to give investors and supporters confidence in the projects that they are investing in within the Cofound.it ecosystem.
Examples of Cofound.it use cases/applications
The blockchain system is on a growth spiral that is unstoppable. Cofound.it will be leveraged on each hub so that it can be used for the following:
Brand Recognition – By increasing the presence of Cofound.it on different platforms, this will make it easier to provide wider access to experts and projects on a regional level. This, therefore, will further accelerate the growth capacity of Cofound.it, and increase the number of incoming projects for funding.
Simplicity – As Cofound.it evolves, the process of collaboration and team selection will be easier for participating project teams and supporters.
Engagement – Cofound.it should further allow engaged communities and talented persons to interact freely and more often, for the greater good of both parties.