Startup Booster is the first comprehensive video guide for startups. It consists of step-by-step instructions on all main stages and actual tasks of startup development and growth. Every video lesson includes practical recommendations, useful tips, real cases and lifehacks from active investors, serial entrepreneurs and market experts.is an intensive crash video-course for acceleration and viral growth of your startup created by the global startups and investors direction InnMind.
The seventh edition of the Startup Booster Course covers topic about ICO. Many startups are asking “what is that?, “How to do that?”, they want to know more. So, we interviewed Soren Fog, co-founder of Crypto Valley (Switzerland) about this topic.
Soren Fog is a founder and inventor of the core iprotus technology. Over 25 years of experience in IT and software development within internet, financial and pharmaceutical industries. Founded and chaired one of Denmark’s first internet service providers (ISP), and a number of other start-ups. More than 10 years of consulting and advising on systems architecture and leading software projects.
In the video Soren gives answers to such questions:
🔑 We on InnMind receive lots of requests from the founders looking for clarification and easy to understand description of what is ICO. Could you please help them understand this?
🔑 Can non-blockchain startup or even hardware startup pass through ICO? if they can’t now, how about future?
🔑 Sometimes ICO is called “digital IPO” - is it correct or not? Please explain :)
🔑 Are there any success cases already? Can you name a few?
🔑 Projects without even MVP who could not dream about classic VC or angel funding raise tens of millions via ICO. It looks like a miracle. But do you think it is good or not for the infrastructure that non-proved and not well-assessed projects can get so significant easy funding? On the one hand it will boost the implementation of innovative solutions to the market, but on the other hand, it increases risks of losing money of investors for low-quality projects. What is your vision?
🔑 What kind of startups can be applicable for ICO “coins” are essentially digital coupons, tokens issued on an indelible distributed ledger, or blockchain, of the kind that underpins bitcoin, a crypto-currency. That means they can easily be traded, although unlike shares they do not confer ownership rights.ICO? Are there any limitations or special conditions for those, who can make an ICO?
🔑 Major challenges and difficulties (including legal aspects and regulations - why Switzerland is the TOP destination where Crypto Valley sets up the infrastructure for the global ecosystem)
In simple words, not only cryptocurrency startups can be fundraised with virtual coins, ICO. ICO “coins” are essentially digital coupons, tokens issued on an immutable distributed ledger, or blockchain, of the kind that underpins Bitcoin and Ethereum, both also known as crypto-currencies. That means they can easily be traded without fees, although unlike shares they do not confer ownership rights.
So, you can share these coins and this way you attract and incentivize people (investors, stakeholders) to your startup. But to dive into this topic you need to watch the interview ►
Learn more about a new way of fundraising and how to do it in episode 7 of “Startup Booster”:
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