With the number of ICOs and blockchain startups taking a giant leap over the last two years, virtues like visibility, brand value, and networking have gained unprecedented importance. Events and conferences are a popular and reliable source to meet all such ends for these teams.
One of the most critical aspects for new ventures in any industry is to garner enough investments for their project. No matter how much potential the idea holds, without the right investors and advisors, it might never transform into something tangible.
A research conducted by a team at Boston College revealed that only 44.2 percent of the token offerings remain active by the fifth month or beyond. Further, 83% of the 694 projects that hadn’t reported capital were found to be inactive after just 120 days.
Given all these factors, a recent conference in the blockchain and cryptocurrency space displayed a unique approach to enable these ICOs to reach the right investor. On 27th November, the United Conference of Internet Money hosted its first Pitch-a-thon after kick-starting the Singapore Blockchain Week.
For every team that pitched at UCIM, there were ten high-profile industry investors who were there to listen, question, mentor, and invest. This 1 is to 10 startup-investor ratio is something that made Pitch-a-thon stand apart as it allowed uninterrupted discussions post the pitches and the projects gained from the experience of ten experts instead of just one.
Pitches are known to be fast-paced and time-constrained. However, certain ideas or teams that have great potential might not be able to prove the same with a clock ticking closely. So, for everyone to get a fair chance, the teams were allowed to interact and present for as long as the investors were interested.
For the teams to leverage undivided attention of the investors and for forming valuable relationships, Pitch-a-thon was hosted in an intimate conference room, instead of the typical main stage where the teams have a more formal and less dedicated interaction with the investors.
“As a participant of UCIM Pitch-a-thon, I did not only get a chance to share how the Griffex ecosystem is normalizing cryptocurrencies for entering the realm of everyday trades; but also got a platform to express that the glaring inequalities in our economic structures and the deep-rooted weaknesses of our financial system can be resolved via such efforts,” shared Syed Vajahaath Hussain, the COO at Griffex. “The entire experience got enhanced with the undivided attention of investors as promised,” he added.
The United Conference of Internet Money witnessed over 350 attendees while bringing together some of the best industry speakers, leaders, and investors on one platform. They are soon taking the next step towards their vision of catalyzing decentralization in its true essence.
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