Your first test as an entrepreneur is to know about the rules of the game. We have tried to provide all the information below.
The International Blockchain Incubator (IBI) is a global community of entrepreneurs and blockchain enthusiasts to develop and co-create blockchain based startup companies and launch them to the market. If you have an idea that can make a difference, solve a problem, start a commercially viable business, or help people improve their lives and the lives of others, IBI can help. It doesn’t matter if your idea provides social benefits or commercial gains. You may use our incubator to launch it.
Benefits of getting hosted by IBI
- Experienced mentors to help you when you get stuck and to keep you motivated. Mentors will be assigned only to the entrepreneurs that have successfully completed Think Stage.
- Blockchain Technology Solution Design with the help of our global blockchain experts pool
- MVP Design and Development support with the help of a diverse community and service providers
- Free Incubation provided by IdeaGist, the world’s largest virtual incubator
- Credits from partners like Google, Digital Ocean, SendGrid, and many more, totaling up to $30,000 and increasing
- Virtual Demo Day to pitch to 1000s of investors and potential customers
- Equity Crowdfunding through our partners (US Companies Only)
- Templates and learning resources at each step of the process
- Action focused process that is based on the experience of 100s of entrepreneurs and entrepreneurial experts
- Idea Privacy to ensure that only you and your trusted people can see the details
- Team development and management help with recruiting co-founders to develop and manage a balanced team of people that are excited about your idea and willing to commit their knowledge and time
- Social networking features to help you develop a support network around your ideas
- Opportunity to present your idea through our global investor pitch program.
- Free Online Training to cover the whole incubation process and topics that are important to learn.
Join our Community for free at https://blockchain.ideagist.com
Why International Blockchain Incubator?
We all come up with ideas, but coming up with an idea is not a ticket to success unless it is put into action. There are many challenges idea makers must overcome in order to convert their ideas into a successful business. Some common challenges that often hold us back include the intractable inner dialogues you may be able to relate to, such as:
- I am good at what I do, but I am not an expert in every aspect of running a business.
- I am ready to work on my idea, but there is no incubator in my hometown. Or it is full, or too far away.
- My idea is not very clear, I don’t have a great idea, or I am not sure if I can start a business based on my idea.
- I rely on my paycheck and leaving my job to work on an idea is a risk that I cannot take.
- I don’t have enough money to start a business.
- I have had great ideas in the past, which were later on executed by someone else, but was never able to act on them.
- I have a great idea and all I need is …. (fill in the blank—an investor, a programmer, a developer, an app developer, a marketing person, etc.)
IBI offers freedom from all of the above constraints and gives you an opportunity to prove that your ideas are good.
IBI offers a lean process developed by IdeaGist Global with three key stages of development that can be used in multiple iterations:
During the Think stage, you will be tested for your determination. The outcome of the Think stage is clarity on Product/Market Fit with a fully vetted value proposition. We encourage people to move forward if the idea is viable. This will help build a solid foundation for your start-up. We also suggest to put ideas on the backburner, if their time has not come, or drop ideas that cannot be realized by you.
During the Execute stage, you will develop a plan for a minimum viable product, in consultation with your potential customers. The outcome of the Execute stage is either a minimum viable product or a design that can be used as a recruitment tool.
Final stage is Launch. During the Launch stage, you will be developing sustainable business models to scale your business from few clients to a point where it can work as a regular organization; be it for commercial purposes or social causes.
Our process is designed to:
- Focus on action
- Apply lean practices to engage customers early on
- Help you protect yourself from major mistakes that entrepreneurs regularly make
- Give you a trusted path that you can follow at your own pace, covering all aspects of planning
- Develop your idea to the maximum possible advancement, within the resources that you have
- Drop your idea successfully as early as possible to avoid too much investment in ideas that may not get anywhere
Here is a short video to see how IdeaGist guides you through a step-by-step process.
IBI Incubation Program
IBI Incubation Program is designed to help people with innovative ideas in launching their startups based on blockchain technology. We are currently accepting applications from entrepreneurs with early-stage ideas. If you already have a product developed, this program may not help you much.
This program is different from regular incubators and accelerators in many ways:
- We don’t expect you to leave your job to be part of our program
- You can live where you are, we don’t ask you to relocate to our office
- Our focus is more on action instead of building business plans at such an early stage
- We accept ideas at the earliest stage when no one else is willing to bet on you
- Dropping an idea for valid reasons or pivoting it is considered success
Application and Selection Process
Are you committed to yourself and to your ideas? Our application process is simple and is designed to help you with the initial thinking process. After applications are received and initial quality control is done, ideas will be submitted to the community for voting. At the end of the voting period, the top 20 ideas will be picked and presented to the advisory board to pick 10 ideas in the cohort.
Here is the step by step process with some hacks that can increase your chances of success:
- Complete your profile. The more relevant information you, more people will trust you.
- Ask your team members to join the community and complete their profiles.
- Add your idea by clicking on the Idea menu and select “Add Idea”.
- Go to Idea Dashboard and complete the “Start” stage, by going through the two steps in this stage.
- Complete the first three steps of the “Think” stage as diligently as possible. They will help you decide how ready you are for your idea.
- If at the end of the third step you feel that you need to tweak your idea, or drop it, that would be a success for you. Go back to the drawing board and apply in the next cohort.
- If at the end of the third step, you are satisfied that you would like to apply, Edit your idea and change the Idea Visibility from “Private” to Limited Shared or Public. The difference is that community members will only be able to see “Short Public Description” if you keep idea to “Limited Shared”. If you keep privacy to Public, the full description will be visible to the community members.
- Update the Idea Description with as much details as you can.
- Update the “Short Public Description” with enough information so that people can decide if they would like to vote for your idea or not.
- Invite your friends to join the community to start building support circle for your idea. It will help you get more votes during the voting period.
- Help your friends to complete basic profile information to make sure they receive a vote.
- Let us know by sending a message to ibiapply [at] ideagist [dot] com with Idea URL in it.
Program Rules, Terms, and Conditions
If selected for the program, you will be required to:
- You must follow the process, completing the think stage in 90 days. After completing the Think stage, we will provide you with mentors to help you with Execute and Launch stages.
- Keep your mentor and IdeaGist system up to date on your progress, even if you were not able to work on the idea lately.
- Be respectful and appreciate the guidance provided by your mentors.
- Ensure that you consistently work 10 hours per week on your idea. It is your idea and without you, it will not go anywhere.
- Be in the driving seat. You are embarking on a journey to become a successful entrepreneur. This requires independence, discipline, grit, and flexibility.
- You will need to keep an eye on your own progress and ask for help if you are stuck.
- IBI is not an investment company and acceptance in the program does not automatically qualify you for investment.
- If you are missing training, not providing progress report or not completing tasks on time, IBI may expel you from the program permanently.
- IBI reserves the right to expel any participant with or without cause.
While you are the owner of the idea and the lead person to bring your idea to reality, you are applying to this program so that you can co-create your startup with the help of the community. If selected in the first round, IBI will present you an equity distribution model that will reward the community for their contributions in an equitable and transparent way. Our goal is that you and main team members will remain majority shareholders in the company until the investment round. At the investment round, it will be between your team and the investors.
Once you have completed the initial steps and your idea is selected by the community, our team will work with you to develop the rewards program that is acceptable to you and provides value to the community.
IdeaGist Platform take idea security very seriously. We also would like you to protect yourself from someone stealing your ideas. Here are a few short readings that will help you understand idea security.
- 3 Ways to talk about your big idea without giving it away
- How secure is my idea on IdeaGist
- How to save yourself from the idea thief
Application Deadline: March 29, 2019
For IdeaGist users, please Select ‘Add Idea’ from the left Idea menu. Please complete all sections in the idea template to the best of your knowledge.
Both current ideas and new ideas must be on ‘Limited Share’ to see the entry. If you have added an idea with visibility “Private”, we cannot see your idea. If you have an idea that you don’t want us to consider, please change the idea visibility to “Private”.
For new users, please join the community and after confirming your email address, select “Entrepreneur” as your profile type on the first login. You will be asked to provide your idea details. Please complete all sections in the idea template to the best of your knowledge. On the Idea Visibility question, please select “Limited Shared”. Submit your application and wait for our team to review it. Meanwhile, you can login to https://global.ideagist.com to complete your profile.
If you have any questions or bottlenecks, email jordan [at] ideagist.com.