The Ignee Accelerator
“Blockchain is at the same place where the cloud and big data were several years ago.” — Forbes
Imagine you designed a new sound system that sounded better, needed much less power to operate and cost a fraction of other home sound systems on the market. That’s great right? Well hang on, let’s say someone bought your sound system, brought it home excited only to realize that the outlets in the house don’t support the type of plug you designed for your product. So now you have this incredible new thing with undeniable benefits to the consumer and yet the customer can’t use it.
You failed to address a major problem — infrastructure. The house comes with outlets, you needed to design your product keeping these outlets in mind. The sick audio system in this analogy is your dApp, the house is the current market landscape, the outlets (you failed to account for) is the infrastructure your dApp needs to gain adoption critical mass. This creates two problems.
Projects built on various blockchains suffer from lack of infrastructure to support user adoption on the network, hence all these cool new dApps have barely any user activity. Between downloading your dApp and actually being able to use it the user needs to go through a bunch of steps, register on an exchange, buy Bitcoins, exchange them for your token, send tokens to wallet, connect wallet to dApp etc. This kind of experience is a nightmare for users and results in a major drop in the onboarding flow. Without simplifying the user experience dApps will never gain them same utility we find with apps in the App or google play store.
The Missing Blueprint
Here’s another problem. Projects wanting to use blockchain for business solutions don’t have the knowledge and resources to implement it effectively. There are scarcely any use cases that massive companies can study to understand how blockchain can be used to solve for pain points and reduce time/money spent on day to day operations.
Enterprises understand blockchain’s potential to optimize data and identity verification, solve transaction inefficiencies and mitigate fraud. There is an obvious need for blockchain solutions but no blueprints to properly guide and initiate the transition to new protocols. Then there is the need to address а plague of bureaucratic issues such as anxious shareholders, IT, legal and others before blockchain can be properly integrated. The task at hand feels daunting and businesses don’t know where to turn for the knowledge and resources to validate the pivot to blockchain based platforms.
In order for these businesses to test out a network, and present the use case to justify it to upper management they need resources and a development environment that currently doesn’t exist for blockchain projects, especially not for enterprise grade solutions. Ignee is tackling this issue by building an accelerator program for startups building invaluable blockchain infrastructure projects and corporations at the early stages of implementing blockchain solutions to learn proper implementation techniques and successfully deploy their ideas. Our experience in blockchain tech and backgrounds in corporate infrastructure enables us to create a unique accelerator program. One that pairs industry insight and mentorship from traditional corporate verticals to support early stage startups as well as corporations eager to test blockchain solutions. By supporting companies proving out new use cases on the protocol, we provide the foundation for successive generations of dApps to designed and introduced so that the ecosystem flourishes and reaches the point of mass adoption.
Blockchain has altered the trajectory of the global economy. Enterprise has a need for blockchain solutions. EOS can deliver them. The platform positioning itself as a direct competitor of Ethereum, hailing as the Operating System for building decentralized applications for both enterprise and consumer grade projects. The platform uses a delegated proof of stake consensus mechanism, which utilizes a tradeoff to being more centralised than Ethereum because it has 21 block producers rather than an unlimited amount of miners in Ethereum’s proof of work consensus model. This governance models makes for a faster, more scalable network than Ethereum can provide in its current implementation stage. Ethereum’s currency skyrocketed in value because of ICOs however because of high transaction costs, scalability issues and the need to find expensive talent that can write Solidity smart contracts, it is having a hard time attracting mainstream enterprise adoption.
Peter Thiel, Galaxy Digital, SVK Crypto and other top knotch funds are porting support for building dApps on it’s platform. The relatively low cost of transactions EOS can solve the complex issues entailed in decentralizing existing service structures and fund innovative solutions for new tokenized economies. Because of its advantageous scalability, lower costs of deployment and faster transaction speeds EOS is positioning itself as the first blockchain for enterprises and consumer grade products that will be able to provide unparalleled support, funding and talent to innovate existing corporate infrastructures.
EOS provides an opportunity for enterprises to launch solutions on blockchain.
By combining corporate insights on real client needs, their industry pains, data sets and Ignee’s blockchain expertise with young talents we’re able to realize successful integrations through our accelerator. We’re starting out on EOS because of scaling and deployment advantages over other decentralised platforms. If you’re interested in applying please head over to our website and check out the how to apply section. We’re currently looking for projects that have at least two team members, with one of them having a solid development background.
Today there exists a number of accelerators and incubators designed to support the blockchain ecosystem but Ignee is taking this model step further by first, activating the community to help us select the shortlisted candidates for our accelerator. Secondly Ignee provides two programs for blockchain projects in our accelerator, the community driven accelerator and the corporate accelerator. Read more about our two programs here ( link to second article).
We’re Community Validated
Our voting mechanism is based on our token. We’re not an ICO. Our token serves one purpose, to enable the community to vote for their favorite projects to participate in the accelerator. Here’s how that works. We create a shortlist of projects, perform all necessary due diligence and then list the projects for the community to votes on using tokens. The projects with the greatest number of votes get selected for the accelerator program.
Our goal is to launch business models of the future.
We’re uniquely positioned to support pioneering blockchain projects that leverage the use of data science and gamification to build and sustainably scale companies.
We couple our expertise in blockchain development, growth hacking and traditional business expertise to drive projects to completion and prepare to raise funds. In other words, we’re a diverse bunch.
Knowing how to code blockchain projects effectively is only half the battle. Ignee conducts rigorous business analysis and applies the best practices for business modeling to accelerated projects. We hack their growth, helping them test quickly and efficiently. Lastly, we aid projects to structure themselves and procure their IP with legal support, raise funds and finally, adopt a competitive strategy to penetrate capital markets.
Three breakthrough technologies that have changed the world:
- Blockchain lets us monetize protocols
- Data Science lets us monetize insights
- Gamification lets us monetize engagement
Our strategy is to accelerate projects that emerge at the intersections of these fields.
Yes we can build incredible dapps on new blockchain protocols but if we lack the infrastructure to support usability then the efforts are wasted. Ignee is tackling the issues of lacking user adoption twofold. We help companies at the early stages of integrating blockchain solutions into their current business model, implementing it in a precursory way for healthy user adoption.
Secondly we help early stage companies building products for blockchain with a streamlined user experience, one which most blockchain projects and dapps (decentralized applications) currently lack.
We give teams the knowledge and resources they need for implementing blockchain to effectively meet business objectives.
Secondly, the projects that wish to implement blockchain solutions don’t have the resources and knowledge to effectively utilize these solutions for their business needs.
The Tesla Moment for Blockchain
WIthout a network of electric charging stations the marketplace for electric vehicles was not able to reach an inflection point for mass adoption of electric vehicles. Tesla identified, understood and solved the infrastructural problem to widen their user base in a sustainable way. Or to follow our analogy, they designed the house’s outlets. To solve the problems of user adoption and infrastructure testing, Ignee is seeking out the companies, teams and projects that will drive in the user adoption moment for the EOS protocol.
We’ve developed a framework to identify which projects will have the most impact the protocol’s user growth. By using this framework we can predict which projects will benefit the most from our accelerator program. These blockchain projects will have two things in common — they gamify user activities and leverage harvested data to constantly reiterate and perfect their product, making it easier and easier to use which results in user retention and user base growth.
The three breakthrough technologies that have changed the world, blockchain, data science and gamification serve to drive the new economy. Blockchain allows us to monetize protocols. Data science enables us to monetize insight and with gamification we can monetize engagement. The new economy will continue expanding upon this altered trajectory.
Our mission is to accelerate projects that emerge at the intersections of these three expanding fields.We built Ignee to support and nurture talented visionaries for disruptive experiments that focus on the forefront of these crucial fields. We will equip the accelerated projects with the tools we’ve used to grow companies, which include data science and rapid user adoption techniques of gamification that will expand the scope of potential blockchain applications. Individuals building projects at the crossroads of these innovations means they understand global trends and are equipped to sustainably compete and thrive in the future.
Who We’re Looking For
Before applying to our accelerator take time to ensure that your application demonstrates blockchain to be a vital component of your business proposition. Round out your team with the necessary technical and business skills. Show us progress on your prototype and product in your application.
The fire and passion about building your business has to show, so demonstrate early traction or provide data points to show us you’ve thought this through and validated your core assumptions. In other words, do your homework and have fun with it.
Be bold, let them call you crazy and your ideas impossible, that’s only a sign that you’re on the right track to do something transformational, something that’s never been done before.