ICO Review Part 1 out of 3

What is Iconiq Lab?

Iconiq Lab addresses the pitfalls and opportunities in cryptocurrency markets through a new startup accelerator program wanting to launch their own initial coin offering. This service will find, develop, source and accelerate handpicked crypto, token-based, and blockchain startups, assisting them in developing their own ICOs.

The problem to be solved

Venture capital investors can be considered the decision makers of early investment stages. These firms centralize most startup funding, and investors are usually capped to those who are considered high net worth. These VCs will then make decisions on startups they deem to be most worth funding. Essentially, those investing in startups through venture capital means:

Have next to no control over the utilization of their investments Need to wait several years for returns to be recognized, due to illiquidity

Additionally, startups have a complicated, extensive process to raise these funds, sometimes taking up to a year. This can often lead to either loss of control of the startup to these investors, or forfeiture of capital investments.

This is a problem in many ways. Startup founders need to ensure they have control over their ideas while raising funds to make these goals a reality. Investors should have some control over their invested startups.

The most difficult challenge for investors is identifying the most promising ventures, while staying away from fraudulent ICOs. The most difficult challenge for startup owners is cultivating a sustainable business with a token structure, while providing value to their investors.

Iconiq Lab’s innovative new solution

Recently, the advent of cryptocurrencies and blockchain has provided alternative funding options that allow founders of startups to essentially crowdfund their own ventures. There are many challenges still present in this method of funding, though. Especially for those looking to invest in ICOs, a funding industry that has already crossed $7 billion in the first three quarters of 2018.

Iconiq Lab has developed a solution for investors in what they refer to as the ICNQ Club. They provide these members with well-researched and higher quality options through the sourcing, developing, funding, advising and “accelerating” of these promising opportunities through their ICO stages.

Iconiq Lab states their mission is to “eliminate barriers to entrepreneurial creativity such as geographic location, lack of network, seed funding and other obstacles that bedevil entrepreneurs”. The goal of this is to assist startups of high caliber in establishing successful token generation events through their five-stage accelerator process:

Due diligence and sourcing ICO servicing and acceleration Exclusive pre-sale options for ICNQ Club members (token investors) Public initial coin offering launch Milestone reporting and financial analytics post-ICO

A real-world use case for Iconiq Lab’s platform

Widgets Inc is looking to raise capital for their idea of a marketplace for digital Widgets. They have a beautiful business plan and have done plenty of research into their target market. However, their Widgets are likely going to be phased out in four years in favor of a stronger alternative. But the profit potential in those four years is immense.

Due to the time sensitivity of their product and service, Widgets Inc is not looking to stand in line and deal with the red tape and demands that venture capital firms typically require. Instead, they opt to take their offering to Iconiq Lab. The professionals at Iconiq Lab examine their offering and plans for their ICO, and deem Widgets Inc to be a highly promising opportunity, adding them to the accelerator.

Walking through the accelerator process through Iconiq Lab, Widgets Inc can potentially shave 8–10 months from the start-to-finsh time from conceptualization and submission through to funding. Additionally, this funding will be performed by individuals and interested entities, not by a firm requiring a large ownership stake and the ability to make decisions.

But who are the brains behind the operation that can bring startups like Widgets Inc to success?

Next up: The IconiqLab Team & Advisors