As part of our ICO, ICONOMI raised $5 million earmarked for the ICONOMI.performance fund that would invest in promising ICO projects. It soon became apparent that this is no easy task. While a few projects had all the required technology and business fundamentals, we saw a lot of teams with big visions and in-depth technology experience that were missing a few key business pieces to their ICO puzzle.
That is why ICONOMI created the mentoring program in November, led by Jan Isakovic. Since its launch the mentoring program has engaged with over 30 ICO projects and is currently working with the best few, with more details to be announced soon. And there will be many more — at ICONOMI we strongly believe that this kind of fundraising will become extremely popular.
The key challenges we were working on for the last few months were:
- How do we find and evaluate the projects?
- How can we supercharge the teams in preparation not only for the ICO, but the business itself?
- How can we attract traditional investors to the ICO space?
Based on the interest the mentoring program has received both from the ICO projects and potential investors, it has become apparent that the problem our mentoring program is solving is not unique to ICONOMI, but is a challenge for the distributed economy ecosystem as a whole. Solving it should bring benefits not just to ICONOMI, but to all early ICO investors. That is why I am happy to announce that ICONOMI is spinning off the mentoring program as Cofound.it under the leadership of co-founders Jan Isakovic, CEO, and Daniel Zakrisson, Head of Evaluation & Mentoring.
Jan and Daniel have assembled an impressive team of experts and launch partners that will help select and coach the ICO projects. The launch partners include Deloitte as ICO evaluator for selected ICOs, Wachsman PR to help with PR and communication and Novak Rutar Legal that will assist projects in finding and executing the best legal options. Cofound.it is built on the know how and platform developed for the ICONOMI ICO — one of the most successful ICOs in history.
The Cofound.it team will introduce themselves and their vision on their page and blog soon.
While ICONOMI will keep a small share, Cofound.it will hold an ICO soon which will enable all interested investors to hold a stake in what we believe is the future of the ICOs.