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“An investment in knowledge pays the best interest.” — Benjamin Franklin
Our first Incubator Light Program this week launched with success as we worked with 10 exciting projects on the initial stages of pitch deck preparation.
Our incubator light program is an 8-week course to facilitate projects to become more eligible for funding. The initial meeting together, firstly, provided an opportunity to introduce ourselves before launching into VC incubation, starting with the Value Proposition, Journey Mapping and Prototyping.
"I'm excited to join the incubator program, something like this is what I've been seeking for a while now. My hope is that this is at least as valuable a resource as I'm anticipating, and if it is, Helios will be bringing tremendous value to the EOS blockchain, and to the whole world. There are so many brilliant ideas out there but not a lot of resources to help founders examine and refine their ideas. Blockchain smart contract systems provide almost all of the infrastructure, user base, and payment logic that entrepreneurs need to accomplish an idea, the only thing they need is guidance and advice to help them design their distributed ledger systems. If all goes well, it seems to me, Helios is perfectly positioned to accomplish this goal. Thank you for your effort in contributing to the final step in the process of imagining and then bootstrapping a world-changing idea, and I hope we can take the advice and action items we identify in these groups and spread them throughout the community, to multiply the value of this project.” - Andrew Ware, Founder of Polaris Records
As some founders were introducing themselves, we requested a brief explanation of their projects.
This was a great opportunity to gauge a foundation from which we can help build pitch presentations. One of the key takeaways from the initial introduction and founder project description was the length of time it took for participants to explain what they do.
When it comes to understanding what investors are looking for, there are many nuances to consider, one of the most important aspects is having a concise, deliberate and accurate pitch.
Getting to grips with the investor appetite is a process of deconstruction. Taking your project and analyzing the key components, and then reassembling in a manner that presents intuitively as an easily digestible story, leaving the investors eager to ask questions to find out more details.
We delved into the framework of each project, allowing time for the founders to explore a set of fundamental questions that help define who they are, what they do and why anyone should care.
The product overview helps founders to take a step back from the technical depths of their project's intricacies, essentially breaking the project down into single sentence answers covering the What? Who? How? And Why?
We are starting to make progress. Now when we ask the participants for project descriptions we are receiving shorter and more calculated responses.
The Value proposition statement helps delve a bit deeper into the nuances of your project and to further identify the target audiences, along with the mechanisms and features which set your project apart from others. Identifying your Unique Selling Points and shining a light on them will help investors quickly identify key points of value.
As we breached the allocated meeting hour, there were some great questions from the projects, and we would like to thank all participants for the great task work which was completed. We look forward to next week, when we will discover more about Journey mapping.
If you would like to join a future Helios Incubator Light program, you can sign up via our founders button below.