Hyper Accelerator Graduation Call Questions
Our startup Joint Commonwealth Fund (JCF) has been participating in the 100-Day Global Virtual Accelerator Program Hyper Accelerator since Nov. 2020, along with 21 other startups from around the globe, and we’re about to graduate with a Pitch Day on Mar. 10th, 2021 (new batches are probably coming soon! For those interested to apply).
As now already a tradition, we post and share what we’ve done as part of the application or participation into such programs, so to benefit those interested in either JCF or how to build a startup (as ours is always work in progress).
Below are the questions and our answers to them, hope you’ll enjoy!
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Tell us what you ACHIEVED your for yourself (Entrepreneurial Confidence) and what you achieved for your startup (Milestones) during the Hyper Accelerator *
Confidence: Before joining Hyper Accelerator our milestone was to achieve $10M assets under management (AUM) for JCF in order to break even. After getting the feedback of finding ways to revenue as soon as possible, we came out with the idea of a VIP fund that will provide higher investor RoI and company revenue. Now we could achieve break-even with as low as just $1M AUM. This will put us in a much better position to become self-sufficient and self-sustainable.
Milestones: We broke the 100 user barrier (our main milestone for 2020) right before Jan. 2021, and assets under management (AUM) as high as $170k at one point (our goal was $100k AUM). We’ve also developed a relatively consistant funnel / process we could convince and onboard potential participants to our fund.
Tell us what you still HOPE to achieve for yourself and your startup *
self: a social entrepreneur who can create work, financial, and growth freedom for the billions in need.
startup: $3M AUM (2021), 1M users (2023), $1B+ AUM (2030), 1B+ people with basic income (2040)
What was your STARTING VALUATION for you Startup at the beginning of the Hyper Accelerator
Starting Valuation: $96,000.00
What was your FINAL VALUATION of your startup at the end of the Hyper Accelerator *
Final Valuation: $171,093.75
If we were to join your next funding round, what would be the fair valuation for us to invest in, given the valuation increase over the course of the program. (Typically its somewhere between the starting valuation and ending valuation) *
- we believe that the current evaluation model greatly under-estimates our true value, as: 1) crypto/blockchain has become a “hot” market again after bitcoin rised to above $50k recently; 2) our business model has intrinsic “network effect” (as explained below) that would drastically increase its value as our size grows; 3) although we’re based mainly in Asia, interests from Italty, South Africa, Malaysia have been attracted and we’ve currently got users from those regions. We thus believe the above valuation should be at least 10x to reflect our true value.
- we’re asking $300k for 20% equity (valuation at $1.5M) for next funding round
- we’ll be asking for you to invest $XXX for Y% equity
Please let us know what you would like to continue to have access to after the Hyper Accelerator *
v Lifetime Access to Startup Course Canvas, Videos and Templates
Access to Live Sprint Sessions (to revisit topics)
v Access to Alumni Peer to Peer Session
v Group Strategy Sessions with Professor Ash Singh and Nilay Goyal along with other Hyper Accelerator Startup Founders
Access to Investors during Monthly Investor Pitch Sessions
v 1 on 1 Strategy Sessions with Professor Ash Singh and Nilay Goyal
Would you like Professor Ash Singh and Nilay Goyal to join your advisory board?
No
v Yes
What is an Advisory Board?
Please share anything else that will help prepare for our meeting. *
- we believe that our business model and product offering have intrinsic “network effect” (7% donation tokens, 1% referral bonus, as well as the current participate by invitation), it’s something we’d like to be able to leverage to scale.
- our future vision includes support of other diverse types of asset funds (such as gold, real estate, arts, or even forests for preservation), this is also an area we’d like feedback on how we could move towards that.
Please provide your full address so we can send a small graduation gift to you
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