Cofoundit is aiming to disrupt the traditional Venture Capital model by helping new companies raise capital through crowdfunding using the Ethereum network. Rather than giving up equity in their companies and selling proprietary software, token sales allow new startups to raise capital so they can contribute to the open-source blockchain ecosystem.
The token sale model is a way for entrepreneurs to raise funds in a decentralized way by accepting donations from contributors. In return they provide tokens that will have utility for their software and also have speculative value by trading it on exchanges for bitcoin or ether.
Crypto crowdfunding is becoming very popular in the blockchain space, with many projects raising millions of dollars in a matter of minutes. These token sales are often referred to as “ICOs” and there are usually new ones every week. Given the influx of new money and users, it’s becoming quite apparent that we’re currently in an ICO bubble.
The problem with the current token sale bubble is that the barrier to entry to raise large sums of capital is much too low. Like any bubble, most projects will fail and it becomes difficult for contributors to separate the treasure from the trash.
Cofoundit aims to raise the bar on the token sale culture by becoming the gold standard in the space. Their services include extreme vetting of new projects, escrow, PR, marketing and assisting new startups in articulating their business strategy in a way that’s sustainable.
The two founders of the company have many years of professional experience in software and business development. Jan Isakovic is in charge of the platform and operations, he has an Economics and Computer Science degree and over 20 years experience working in tech for companies ranging from Microsoft to IBM.
Daniel Zakrisson is in charge of business evaluation and mentoring new startups to help them reach their goals. He has over 10 years of experience in business development with past roles ranging from CTO to CEO for various software companies.
Cofoundit is launching their own token sale on June 7th at 11 AM EST, which will be hard capped at $12.5M. The funds will be used to build up their operations ranging from PR, marketing, legal expenses and expanding their international reach. This will help streamline the process for new startups looking to work with them.
Their goal for 2017 is to help 10 startups launch and they already have several huge projects scheduled in. They have already been pitched by hundreds of projects but their rigorous vetting process means they only pick the best of the best. They are not interested in promoting vaporware and will only help projects that are further along in their business development.
For those interested in participating, you can get an early priority pass by registering here.
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