First of all I want to thank the aeventures team, I know by first hand that organizing an event that big is not an easy task. For those interested in boosting an idea or project in early developing stages this might not be the right place. Let me explain the reason behind this asseveration, the program is designed to help entrepreneurs pin point the viability of their idea, 80% of the content is oriented toward the business side. The remaining 20% of the topics focus on the technical implementation of the aeternity blockchain and its integration to your project.
The problem lies in the ability of the team to demonstrate their capability to deliver a Minimal Viable Product or MVP in such a short period of time. Yes, you can participate in all activities and use the exercises to improve your idea but getting funded is a whole different thing.
Investors are inclined to put their money in projects that are already working and have been tested at least in some degree through a soft launch, demonstrating traction among the general public and of course it’s monetizing viability. In other words it’s naïve to think that having a great idea and lots of enthusiasm is enough to hit the jackpot.
To get to Genesis Week first your project has to be approved by a group of judges belonging to the aeternity team, if they think it’s a good idea that can be improved with aeternity’s blockchain technology a meeting will be scheduled to interview the team behind the idea, so my advice is that you should have your Due Diligences done and ready because this interview is the first filter.
If you and your team convince the judges an invitation to participate in Genesis Week is issued and you are ready for second phase. Here things get serious since the program’s main objective is to test not only the idea per se but also the people proposing it. All activities are intensive and must be accomplished in a fixed time period, uploaded for revision and approved.
Half way down the week another screening is scheduled and its name gives you a hint of what is about to happen, “Shoot to Kill” is a one on one session with the judges where once again your clarity on your business plan is put to test. Any confusion of concepts will send you to the firing wall (hahahaha) and basically kill your aspiration to be elected.
Another mistake is to think that by surviving Genesis Week you are already safe and eligible for funding, the truth is that you face another month of hard work to reach the final goal, a fully functional MVP. Two times a week you meet with mentors to deliver tasks related to achieving this goal but I must say that this also is not enough; I must stress the importance of having a well-designed, functional and operational project.
In order to make the most, not only for the participants but for the aeternity ecosystem, I suggest the creation of a mentorship program where entrepreneurs could present their ideas and get an honest feedback from senior developers and business experts so by the time they run for funding in the Starfleet Contest they have a clearer business plan and therefore a better chance to succeed.
A few final words for the aeventures team, as a new blockchain platform your main objective should be to work with the ae headquarters and incentivize as much adoption as possible, there must be something wrong about the way such effort is being announced, just look at the numbers on social media, views, likes, tweets…Let’s take advantage of the ambassadors network around the world and link all components together to achieve the synergy necessary to catapult AETERNITY to the next level of adoption.
My intention is not to discourage entrepreneurs from participating in this accelerator program but on the contrary I want you to participate having as many advantages as possible. By all means prepare yourself, your team and your project as much as you can and get the most out of this GREAT OPPORTUNITY offered by aeternity!