12 tips to help crypto and blockchain companies win VC funding
It’s no secret venture capitalists react to prevailing market conditions when making decisions, and amid global economic uncertainty, entrepreneurs from across industries are finding that VC funds are more difficult to come by these days. This is especially true for crypto and blockchain companies, which have to overcome not only a knowledge barrier but also the lingering fear aroused by recent bad behavior from certain high-profile crypto founders and firms.
Crypto pioneers who became accustomed to a free-flowing tap of VC cash during the industry’s early heyday may need to adjust their mindset and approach to be successful when seeking funds in the current market. Here, 12 members of Cointelegraph Innovation Circle share tips to help crypto and blockchain companies move forward as VC funds become less generous with their investments.
We’ve thought through the user flow carefully for our applications and demos, with a testnet behind our first application. Our goal is for users to understand that blockchain-based decentralized applications are simply the next generation of apps, with special properties on the back end — so their first encounter with the front end must feel familiar. Only then will we go into the block explorer and the code, if they wish. – Stephanie So, Geeq
The first thing a crypto or blockchain company needs to do is to stop focusing on the tokens. The main focus, regardless of cycles, should always be on building a high-quality product and the effort to create traction and prove product-market fit. – Sami Rusani, Rusani Ventures
Remember: You’re building a business, not a hype machine. Businesses have revenue, profits, customer acquisition and retention costs, and so on. Understand what real problems you
Read more on cointelegraph.com
