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StartUp Tech Funding?

Veteran

Eddie Starr Spokane, WA

Here is a work in progress demo my tech team has: https://bitprive.tech/

I wasn't sure which would be the best, so I have a traditional crowdfunder here: https://www.indiegogo.com/projects/altcoin-p2p-crypto-exchnage#/

I also have a profile geared towards bigger investors:
https://gust.com/companies/altcoinp2p/folders/6125983

Note, to see more of the info on gust, one needs an account. Of course, I can also PM requests. I have a Pitch Deck, Business Plan, Executive Summary, and projected revenues, expenses, and profits.

To get those figures, you can see the image taken from a report of centralized exchanges, which range from $0.22M/Day - $3.84M/Day. These exchanges include thousands of types of crypto, many doing from a few million to a few billion a day in trade volume. In the gust files, I include the revenues of Peer2Peer exchanges, which focus almost entirely on Bitcoin. They range from $20M/year - $4.2BB/year.

As there is no AltCoin P2P exchange, balanced with that it's new, I conservatively put the annual earnings at half the lowest P2P, at $10M. Expenses include the domains; ranges for the first year hosting; all the building, security, and testing of the exchange; and target marketing cost ranges, using mostly nano and microinfluencers for the first year. I adjust costs in following years, based on going to larger influencers, and revenue and profit, as we add more tokens to exchange.

Between Indie and Gust, I list why a P2P, the various competition, and our biggest advantage being that we would be the first to offer many tokens to those who don't have access to central exchanges, particularly in Africa and Asia.

What I'm seeking would be mentors/advisors, who can help me fine-tune this, and can help me get this before investors.

12 November 2021 4 replies Small Business

Answers

Advisor

Kevin Hicks Freehold, NY

Sorry I can't help w/ the investor angle. Have you approached the Small Business Administration and applied for a loan? They have lower rates for Veterans than other business owners: https://www.sba.gov/offices/district/pa/pittsburgh/resources/sba-business-loan-information-veterans .

17 November 2021 Helpful answer

Advisor

Matt Johnson Chicago, IL

Eddie,

I think most advisors in ACP will be more aligned to traditional investments and businesses with corporate/strategic buyers so it's not really the best place for venture capital contacts, nor do I think this is something VCs would consider just yet - there's thousands of AltCoins already so they'd be asking why this one would explode.

I would echo Scott in that start-up incubators are probably your best bet. Bunker Labs, Vet-Tech, and Victory Spark are all for veteran entrepreneurs if you want that angle. However, I would add that you should widen your aperture by networking with crypto enthusiasts and actual dev teams on LinkedIn if you want this to be a viable product. Make sure that community knows who you are you and glean what you can from the many lessons learned in that space already.

Advisor

Scott Goldman Sudbury, MA

Hi Eddie,

You should look for start-up incubators in your area that support early stage tech. In Boston, MassChallenge, the Deshpande Center, and the MIT 100k are all "competition style" incubators that do this sort of work routinely. On the west coast Y-combinator and LaunchPad might be what you're looking for. A quick search for incubators in Seattle turns up a list on GeekWire (https://www.geekwire.com/startup-spaces/) that might be useful, and UW/BECU have a FinTech Incubator you may want to look at.

Good luck!

- Scott

Veteran

Eddie Starr Spokane, WA

Well, is there anything on this you could help with? @KevinHick

SBA, SCORE, etc won't help with Real Estate Investing, nor will any traditional source, such as banks. They are even less inclined to touch anything with crypto, as the price of bitcoin can rise or fall by thousands in a 24 hr period. Never mind that they wouldn't be putting into the crypto itself, but a way for individuals to safely conduct transactions.

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