Whether you have a fresh and great idea or you have an already classic or web 2.0 business that translates well into web 3.0, we are here to help build its future. Let’s dive in and see what you need to do to be accepted into our startup accelerator program.
Taking the Leap into the World of Blockchain Technology
There’s no disputing blockchain technology’s growing importance in our daily lives. Blockchain technology has captured the world’s attention, and it’s utilized in a variety of ways. Its applications vary from the financial sector to IoT, Neuroscience, Health & Fitness, Metaverse, and Gaming, as well as the creation of cryptocurrencies and the multiple use cases surrounding them.
Thousands of entrepreneurs seek out new uses for blockchain technology every day. However, entrepreneurs require large amounts of capital and expert advice to realize these ideas. An accelerator program is one way of obtaining funding and guidance.
The rapidly changing cryptocurrency and NFT regulatory environment have made taking the right steps increasingly difficult. Those unfamiliar with the current situation are undoubtedly confused in trying to understand all that is happening in this space. In the present environment, crypto launchpads like BHero can assist in bringing disruptive cryptocurrency and NFT projects to life.
Is an Accelerator Program What you Need?
Cryptocurrency accelerator programs are purpose-built to supercharge the development and expansion of blockchain startups. Funding is a significant aspect of accelerator programs, but mentorship and training are equally important. Accelerators assist businesses as they advance from the preliminary phases of establishing a company to the subsequent phases of developing a product.
If you want to participate in our accelerator program, you must prove that you have a good business concept and history. A team should already be in place and ready to cover all the vital aspects of a blockchain project, like tech, business, marketing, and community.
Having a well-developed business and legal plan before approaching us is considered an advantage. We also prefer young projects that have not yet taken any steps in making their tokens/NFTs available for private and public investors. Experience has shown us that rushing and making mistakes in these early, and most important chapters are where most crypto startups go wrong, and sometimes it can be irreversible.
What is BHero, and How can We Help Develop your Business?
As part of the BH Network ecosystem, BHero is the second fully FMA compliant crypto launchpad on the Elrond Blockchain after Maiar Launchpad, which aims to assist crypto business startups in developing their cryptocurrency or NFT projects, whether they are an already established web2 business or a completely new company looking to join the blockchain world in a legally compliant manner.
BHero will help develop your project by assisting in every aspect of the process, including:
- Gaining investments
- Legal requirements
- Tokenomics setup and execution
- Technical guidance
- Sustainable economics
- General advice
- Connections in the field
- Gaining project awareness within the crypto space
- Grants (selected projects only)
- And more.
Applying for the BHero Accelerator Program
On our BHero Launchpad website (bhero.com), you can access the Accelerator Program form and someone from our team will get back to you as soon as possible.
As you will notice, there are some key areas that are mandatory when applying (and some that may not be obvious at first) so let’s break some of them down:
1. Your Business Venture Must have a Global Approach
Global startups are primed to strategize their business to capture a larger business opportunity, a larger consumer base, and new markets. The low-overhead costs and flexibility are reasons startups are uniquely positioned to capture a global audience.
Your startup must identify a profitable sector you can innovate in and position yourself in the global market to succeed. That is particularly true for businesses based in smaller countries.
2. Incorporating Your Business in a Crypto-Friendly Jurisdiction is a Must
Governments have adopted varied approaches to deal with cryptocurrencies’ potential to disrupt their financial systems and monetary policies. Some nations have immediately sought to ban cryptocurrency usage, cryptocurrency mining, and other related activities. Other nations, on the other hand, have welcomed cryptocurrency exchanges and ventures to their country, seeing the tremendous benefits they offer.
We are the second fully FMA-compliant crypto launchpad on the Elrond Network Blockchain, and we pride ourselves on doing things by the book and being fully compliant with all the legal aspects a web 3.0 business needs to exist. We also believe that having this framework and mindset is the only way to drive adoption at a mass scale and truly bring the world of crypto into the mainstream.
Some countries with friendly crypto legal frames are:
3. The Importance of Having a Token Opinion
A token legal opinion is used to determine the token’s legal status in a given jurisdiction, whether it be issued or traded on a platform such as an exchange. Before releasing tokens, business owners must receive a token legal opinion to avoid liabilities such as having to reimburse all the funding they raised or being slapped with hefty fines.
The token opinion is also one of the key documents requested by Centralized exchanges (CEXs).
4. Having a Well-Written Whitepaper is a Necessity
A whitepaper is a marketing tool that is used to promote a product or service from a specific company.
A well-written whitepaper builds a favorable case for marketing your product or service. They are frequently used to deliver research outcomes, answer questions, present a solution to a problem, make a business case, generate leads for sales, establish thought leadership, inform people about a product or service, and motivate them to use it. Its value to a company is significant and is required to be accepted on our launchpad.
5. Tokenomics – a “Make it or Break it” Pivot Point
Tokenomics provide valuable information about a token’s economic structure and use cases. They establish a cryptocurrency’s foundation, which includes its use cases and value.
Tokenomics may be the most important part by which your business will be judged by potential investors (and us as a launchpad), so do not tread lightly when developing a healthy and long-term sustainable token economy.
6. There is no I in TEAM
Having the right team members is crucial for achieving your goals. A great team with complementary skills and abilities will assist you in executing your vision and lead you to success. It is the foundation upon which a new startup is built.
So having a strong team in crucial areas like tech, business, marketing, and community is a big plus in our book and weighs heavily in our decision to accept you into our accelerator program.
Provable great work history is a must as we carefully check the team members.
Already having an MVP (Minimum Viable Product) running on the Elrond Network is a must for acceptance into our launchpad. It will also help potential investors better understand your vision while gathering essential feedback early on.
We are living amazing times, and due to investors becoming increasingly crypto-educated, the Minimum Viable Product requirement will soon be replaced by a Maximum Viable Product requirement. Crypto investors are beginning to get accustomed to the crypto environment’s rapid development and palpable proof of execution, and they are unwilling to wait a long time to see your vision materialize.
8. A Great Idea
We celebrate great and innovative ideas, and although we are an accelerator program, we also act like an incubator service if we see potential and drive in your product and team. So even if you may not meet all the necessary criteria above, we encourage you to apply with at least a business idea that is fully developed on paper.
Crypto startups have the potential to change the world as we know it, and we cannot wait to see what you have planned and work together on bringing your amazing ideas to life. Please feel free to contact us on our official Telegram channel if you have any other questions or require further clarification.