The Atka Journey: our story and why we are launching a Web3 incubation program

Atka founders at their prime

Over the past decade, our journey through the cryptocurrency ecosystem has been nothing short of a rollercoaster ride. We’ve weathered multiple bear markets, witnessed the dramatic collapse of Mt. Gox, navigated through the waves of Chinese crypto bans, rode the ICO and NFT crazes…

Add to that the amount of popcorn we consumed during the mighty year of 2022, stage to the collapse of a few of the most massive crypto companies, protocols, funds and exchanges (if you’re reading this you surely already know their names…). We can confidently say: we’ve been there, and done that.

We’ve never been just passive observers in this space; we’re entrepreneurs at heart. We’ve operated an exchange, invested in dozens of cutting-edge Web3 projects, and endured our fair share of rug-pulls, projects falling in pitfalls or being hacked. Some of our experiences have become legendary tales within ourselves and the larger crypto community. Indeed, it is always fun to talk about this time when a certain Vitalik told us that ETH was ready to get listed asap on the exchange in a meetup in Hong Kong, that time when Arthur Hayes told us about his views on KYC and relationships with regulators at the Bitcoin Association of Hong Kong launch meeting, or when we helped raising funds for the first ICO on Ethereum ever, TheDAO, and witnessing head first its downfall and rebirth after the infamous Ethereum fork of 2016. Some of us still have a digital scar of those prehistoric days for crypto :D

In our journey, we’ve had the privilege to collaborate with projects that have since become industry benchmarks. Along the way, we’ve built strong relationships with top-tier partners across various aspects of the crypto landscape, including D&A Partners, Solidant, and many others.

We’ve accumulated a wealth of knowledge about the do’s and don’ts in this ever-evolving ecosystem. We’ve refined our practices and gained the expertise needed to successfully launch and operate crypto ventures. This experience is precisely why, for the past two years, we’ve been dedicated to incubating and nurturing Web3 projects. We are grateful to have had the opportunity to work with outstanding teams building exceptional projects, such as Morpho, Mangrove, Anboto, Kairosloan or Playmakers.

We have always believed in the potential of this space, and our journey has prepared us to guide others through the exciting and challenging world of Web3.

After incubating first hand more than 8 projects over the past two years, Atka is now launching a new incubation program. Atka’s Web3 Incubation model goes way beyond just offering support to crypto projects.

We have designed a hands-on 6-month incubation program delivering to our cohorts the depth of the knowledge and network we have accumulated during our journey in this space.

It will begin with a thorough identification, selection and onboarding of high-potential and driven teams, that we will then embark on a transformative journey with Atka at their side, from Concept to Fundraising!

Why are we launching this new incubation program? Why now?

While the ongoing bear market presents immediate challenges, it also offers a unique window of opportunity to deliberate and meticulously craft the innovative use cases of tomorrow, allowing for a more thoughtful and strategic approach in the development of groundbreaking solutions.

On the one hand, many founders run into difficulties, which they often find hard to recognize. There are plenty of challenges to keep up with, some of which may be elusive or inadequately measured. Navigating these complexities, which range from funding constraints to market skepticism, can prove to be a demanding task that requires astute problem-solving and adaptability.

On the other hand, the bear market tends to shift the focus of founders from rushed developments in hope for rapid gains to conscientious building. It offers an environment conducive to patient and strategic entrepreneurship, enabling founders to lay solid foundations, refine their projects, and position themselves for long-term success. Additionally, managing to get relevant traction during these challenging times showcases strong market fit, which can only be extrapolated when the market eventually turns for the better.

From an early-stage investor’s point of view, assessing the viability of a project through a few due diligence calls can be very challenging. Condensed interactions can give only partial insight into the founders’ mindset and project’s potential, making it difficult to assess critical factors such as team dynamics, market fit and long-term viability.

Atka incubation program is the ideal solution to address these challenges.

In a similar fashion to what we’ve been doing for many years, we will assist projects to grow on strong foundations: structuring deals, project development, conducting market assessments, all while connecting founders with the right partners and investors.

What makes Atka uniquely qualified to run this program?

• The Atka team: all three founders have been deeply entrenched in this ecosystem for many years, boasting the kind of expertise that’s essential to relevantly support early-stage projects.
• Our Vision: we believe that crypto and blockchain technologies will foster a plethora of applications, some of which we have no idea about just yet. With a very open mindset, embracing a non-maximalist approach, dedicated to empowering a wide range of applications and use cases in the many relevant subject-matters, encompassing DeFi, gaming, infrastructure, social and a multitude of other sectors.
• Our track record : our many initiatives speak for themselves. Having previously overseen the development of a cryptocurrency exchange before founding Atka. Advised multiple corporates and startups. We also contributed to more than 50 projects as investors.

What’s the actual value proposition?

• A 6-month incubation period

The program runs for up to six months, giving projects enough time to refine their concepts, test their market, start expanding their team and strengthen their vision and roadmap. Throughout the incubation period, we set specific milestones and checkpoints to ensure that teams make tangible progress. These milestones ensure that only the most dedicated and promising projects make it through the entirety in the program, maximizing their chances of success.

• Max 5 projects per cohort

Only up to 5 projects are going to be incubated in each Cohort. At Atka, we prioritize quality over quantity. Our project selection and due diligence process is challenging and meticulous. Several stages of selection are planned to only keep the most promising teams. After selection, there’s a one-month trial period before the first milestone validation. It’s a critical phase for mutual alignment and success. By incubating only five projects, we concentrate our time and energy on what really matters for each individual project and make sure our startups receive the best guidance and resources to succeed.

• Up to $250k investment & strategic perks

Atka Incubator will deliver to each project up to $250,000 in investment. On top of this, Atka negotiated agreements with relevant service providers, such as crypto-friendly banking providers, community engagement platforms, law firms and more so that our incubated projects could get privileged access and better pricing.

• Access to our network of seed crypto investors

In addition to the investment from Atka Incubator, the projects will be introduced to our wide network of investors. Most of them have already participated in past fundraising rounds we have helped structure, and they trust us in our ability to prepare and structure projects in the best terms possible for every party involved.

What are we effectively going to help on?

@Teams: We won’t code for you, nor audit your code. We aren’t either marketing experts who will tell you how to write a twitter thread.

The best way to picture the kind of help we bring is to consider us as a mix of COO and CFO for hire, for the time of the incubation program. We get our hands dirty, participate in important partners or investors calls, comment and help improve your documents…

We will provide comprehensive assistance across multiple domains crucial for the projects’ success. This includes Operations & Administration, Finance, Legal, Fundraising, Strategy, Product, and Tokenology. With our wide-ranging expertise and extensive network of partners, we equip the teams with all the tools they need to thrive in the fast-paced and ever-evolving Web3 space.

What are the objectives of the program?

We are launching this program with the certainty that we can help our founders build their project on solid foundations. Considering and addressing these crucial points from the very beginning will ensure the robustness of the project in the long run. Here are some of the objectives of the program:

1. Market & Technology Assessment: In this phase, we define the target market, thoroughly analyze market structure and dynamics, and help create a precise product roadmap.
2. Project Structuring: Here, we focus on establishing the appropriate legal and operational setup, defining roles among founders and early team members, and mastering the legal and regulatory challenges specific to your project.
3. Deal Structuring: This step involves determining your funding needs and the required fundraising amount, setting sustainable valuation and deal terms, and outlining the relevant cap table or token distribution model.
4. Fundraising: We provide access to a network of relevant investors, conduct tests to gauge market conditions and investor appetite, and negotiate the most favorable terms for your project, ensuring it gets the support it needs to thrive.

What does the program contain?

Workshops:

• Weekly calls for project founders to discuss blockers and break through
• Bi-weekly themed workshops on vital topics like Operations, Fundraising, Marketing, and Crypto management

Workshops are led by the Atka team and our program mentors / launch partners. All of our mentors have significant XP in Web3, most of them as C-level / Founder.

Office hours:

• Weekly calls for each project with the full Atka team
• Additional calls on demand to address specific topics
• 1-to-1 mentorship sessions with one of our mentors twice a month

Founder-only libraries:

Resources accessible to the project on the topics of structuring & incorporation practices, contracts, banking set-up, wallet & treasury management, business plan & tokenomics, token distribution, hackathon organization…

Perks:

The program offers a series of perks which would fit the need of any Web3 project. From AWS credits to fast-track onboarding with reliable banking providers, from discounts on Notion startup plans to pre-negotiated terms with Web3 specialized law firms, we got you covered.

We will also organize several events to better integrate and support our projects:

1. Cohort Launch Day: An event in Paris where you’ll meet the Atka team and fellow Cohort founders, marking the program’s start
2. Hacker Day: A 1-day event for Atka’s incubation cohort to showcase their products and facilitate engagement with developers, users, community members and investors
3. Investor Day: Your opportunity to pitch your project to our extensive network of investors, opening doors to potential partnerships and funding

You’re doing all this by yourselves?

Of course not… To make this endeavor a success, we partnered with top mentors and ecosystem leaders. We have selected a range of launch partners that we have already worked with several times in the past. We vouch for each and every one of them and the quality of their services and products. These partners include investment funds for strategic guidance and introductions, technical and infrastructure providers for essential project support, and compliance and legal experts specializing in crypto assets. We’re also partners with strong marketing advisors and agencies to enhance project visibility.

That’s all folks! If you run a web3 project and you want to help to bring it to the next level, apply to join the next cohort by filling this form! ****