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Happy Monday, Web3 fellows 🖖
We've dedicated this edition to startup pitching and fundraising. Why? We know firsthand how challenging it can be to navigate the complex world of Web3 investment.
Read till the end to uncover the ultimate opportunity to supercharge your startup! ❤️🔥
Perfect Your Pitch: Learn How to Raise Money for Your Startup
Raising funds for a Web3 startup is a challenging task that requires a deep understanding of the industry and the investment landscape. To shed some light on what investors are looking for, we spoke to Sam Simmons, a Web3 investor and advisor, who is also a Partner at Dream Ventures.
According to Sam, investors pay close attention to four key areas when evaluating a Web3 startup:
1️⃣ Team: Investors look for a strong team with a proven entrepreneurial track record, industry experience, and intangible qualities such as passion and commitment. A strong team can make all the difference in the success of a startup.
2️⃣ Business Model: Investors want to understand the startup's business model and how it makes sense in the Web3 ecosystem. They will look for the potential upside of the model and how it can scale in the long term.
3️⃣ Valuation: Investors will consider the terms of the investment and what it will take to achieve a significant return on their investment. They will look for a clear path to a 10x or higher return.
4️⃣ Investors: Those who are already involved in investing into a startup can signal to others the viability and potential of the project. Investors want to know who else is investing and how they are strategically aligned.
Top 3 Mistakes That Can Kill Your Pitch
According to Sam Simmons, there are three common mistakes that entrepreneurs should avoid:
1️⃣ Overcomplicating the pitch: It's easy to get caught up in the details of your business and want to explain every aspect to investors. However, this can lead to a pitch that is too complex and difficult to follow. Keep it simple and straightforward to get your message across effectively.
2️⃣ Overvaluing your business: Entrepreneurs may be tempted to value their business beyond what is reasonable in the market. However, this can backfire and attract the wrong type of investors or scare off smart investors who are looking for a reasonable valuation. DYOR and understand the market before setting your valuation.
3️⃣ Selling yourself short: At the early stages, it's often a big bet on the founding team, rather than the business idea itself. It's important to advertise the strengths and experiences of your founding team to demonstrate your ability to make the business a success.
Useful Resources for Web3 Founders
Get ready to take your business to the next level with these tools at your fingertips:
Tools to Create and Grow Your Startup
The 100 essential tools to grow from an idea to profitable business.
Fundraising Resources for Web3 Founders
A curated list of fundraising resources for startups that is organized into two main sections: preparation and execution.
Top 26 VCs For Web3 Founders
A compiled list of VCs for you to pick the right one for your startup.
Successful Pitch Deck
Kryptomon pitch deck that helped them raise $10 million — learn & borrow main tips from the best.
100+ Best Web3 Conferences for 2023
The ultimate list of the main Web3 conferences where you can pitch your product.
Startup Pitch Competition: Your Chance to Join the Finalists
These 5 startups took the leap and followed some advice that changed their game. And now, they've earned a spot to pitch at the Epic Web3 Conference!
Congratulations to the finalists:
Cheer up if you didn't make it to this round of selections! You've got another shot at presenting your product to a hand-picked audience of 70+ VCs, angel investors, and Web3 accelerators.
It's a golden opportunity to put your business on the map and impress the right people from:
— Greenfield Capital;
— Blockchain Founders Group;
— Vis Caeli;
— And many others!
🔥 Hurry up — seats are filling up fast 🔥
Alright, that’s all for today! 👋 But wait…
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Sending growth your way,