iPRONTO, a Single-Window Blockchain Platform to Encourage Innovation and Attract Investment

Jan 3, 2018 · 3 min read
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Gone are the days when big corporations and government-run entities were the driving force behind economies. In the recent years, people have taken the initiative to build their own startups and businesses, most of them aimed at disrupting the existing technologies or markets to make the lives of millions easier. The advantages of startups for any economy is multiple-fold. In addition to progress in various sectors, these startups also create thousands of jobs which in turn add value to the economy while improving the standards of living both within and outside the country.

Recognising the positive impact these startups have, various companies and investor groups have come forward to extend support to at least some, if not all the startups. Meanwhile, the minds behind these startups — entrepreneurs and innovators don’t always find it easy to put life into their ideas and make it into a viable product. Some of the challenges they face include lack of funding, bureaucratic red tape, access to allied services and the necessary manpower.

The existing systems are so complicated that innovators and entrepreneurs are forced to navigate through a labyrinth of government offices, consult lawyers and sometimes pitch to hundreds of investors and still end up looking for investments. The whole process can be made much faster by creating one single window, where innovators, entrepreneurs, and businessmen can get all their queries answers, and satisfy all the prerequisites to running a successful business. By making use of such a solution, they can continue focusing on building great products instead of spending months to get the paperwork and funding right.

Also, ideas are a dime a dozen. Even great ideas with a potential to revolutionize the world may end up without takers as people might not have found the need for it yet, or they are comfortable using multiple products and services to meet their requirements. If such an idea is turned into a business, it may end up becoming a failure. Not to mention the apprehension among investors to put their money in such ideas, which will also end up adversely impacting the startup. Factoring all these likely scenarios, it is vital to get the idea validated before channeling all the resources into making it a reality.

In the coming days, all these things are going to turn into a reality as Idea Paradise is in the process of building the iPRONTO platform using blockchain technology. The iPRONTO platform is designed to create a single-window, decentralized, transparent system to foster innovation and startups. The platform connects all the stakeholders of a startup ecosystem including startups, venture capitalists, governments, regulatory bodies, service providers (marketing, legal, HR, finance, etc.) and facilitate effective communication between them. As a part of the ecosystem, the viability of selected ideas are peer-reviewed and validated to ensure ease of investment for those who are willing to invest in startups. In addition, the iPRONTO platform will continue to serve as a mentor to the startups that join the network, helping them grow until they become self-sufficient or raise necessary funds.

The participants in the iPRONTO network also include experts from various fields, even incubators who will be instrumental in offering valuable guidance to turn innovative ideas into full-fledged market-ready products. All records, legal documentation, and other agreements are registered on the blockchain, creating a tamper-proof, easily verifiable records that can be accessed by interested investors for due diligence and shortlisting process.

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With all these features in one place, entrepreneurs and investors don’t have to look anywhere. They can just become part of the iPRONTO ecosystem and get everything needed in one place. Like any other blockchain project, iPRONTO is powered by iPRONTO Coin (IPR), which is currently being offered in a crowdsale. The pre-token sale now underway provides participants with early access to the ecosystem at a discounted price. Following the presale, the main token sale will be held. More information about iPRONTO platform and its token sale is available at — https://www.iprontocoin.io

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