The industry isn’t doing enough to support blockchain startups

2018-01-10T15:53:16+00:00November 22nd, 2017|

What do Facebook, Google, Apple, Tesla, and PayPal all have in common? The fact that they were founded in Silicon Valley, just like many more of the leading software companies today.

Each of them had a brilliant founding team, but they had something else too: An ecosystem of support and talent that has been developed through decades of technology culture based in the Bay Area. This the most valuable asset to start-ups based there, and it’s what helps them grow into mature, successful companies.

Right now the cryptocurrency world is young but growing at a rapid pace. Things change fast, and in order for new companies to keep up, young entrepreneurs need to be supported by those who have more experience, both inside and outside of the industry. Almost daily another ICO raises tens of millions of dollars. That’s great news, and shows how many investors are willing to bet their money on new ideas. But it also means that sometimes inexperienced founders find themselves with large sums of money and no clear plan of how best to manage it, or a flawed idea with unrealistic (at times misleading) promises.

Frankly, the industry isn’t doing enough to support blockchain entrepreneurs – too often they’re left to fend for themselves. At IBC we recognize that the process of disruption and innovation depends on people who see beyond the conventional way of doing things, but when you have a disruptive product, the fundamental principles of business still apply, and new companies shouldn’t have to reinvent every single part of the business process again.

In fact, when teams try to build each part of their workflow and business strategy from scratch, they end up spending less time on the core activity of fixing a problem that need to be solved. You could be a genius at cryptography but still have no idea about HR policies and how to start hiring the best team to help grow your company – and that’s absolutely normal. Instead of this being a problem, we need this kind of information to be available from the beginning in the form of advice, mentoring and consulting.

That’s why the men and women with decades of experience in running businesses need to help fill these gaps for young entrepreneurs. The cryptocurrency world should have same culture of support that exists in other areas of tech, and that means understanding where to innovate and where to use reliable methods that have been tried and tested.

There’s a gap in the industry today and IBC is going to change that. With a network of lawyers, designers, finance specialists, engineers, technical writers, marketers, and consultants, it’s an end-to-end support network for the blockchain era.

But don’t take my word for it: Judge us based on our team and our results.