Starting a business was traditionally never easy. Incorporations, legal, and accounting fees can be costly and time consuming.

“Setting up new organizations is complex, time-consuming and challenging to get right cost-effectively, especially for early teams across multiple geographies. Yet, it's a necessary evil that must be tackled says Ravi Srivastava of Purvi Capital.

Thankfully, new technologies are changing how businesses incorporate and ultimately perform. How? Blockchain technology makes it possible to develop collaboration, governance and profit-sharing solutions that are orders of magnitude more efficient.

Enkidu.io by Avalon Labs, for example, is a blockchain based startup that allows people all over the world to team up and run programmatic companies, is currently now in its private sale and recently announced an investment by Ravi Srivastava and Purvi Capital. The deal was valued at over 60 million Enkidu tokens, validating the need of a blockchain solution of this kind.

Enkidu's platform allows businesses, professionals, and hobbyists from across the globe to team up on online projects. All of this happens via a programmatic company structure that functions similar to that of an LLC. All the functions that can take place in an LLC - adding a new partner, adding a new investor, dividend distribution, vesting periods and share classes are all handled via smart contracts. All this, without registering a company or going through the legal processes of having cross-border teams.

The payments received for these projects are automatically distributed to the teammates’ crypto-wallets based on predefined terms agreed upon by all the parties involved. Options like smart vesting, domain locking, and others render Enkidu a chassis for a usable version of the DAO (Decentralized Autonomous Organization) that actually has real world value and can be used immediately.

“Our platform aims to penetrate the gig economy market on a global scale that can facilitate micro-collaborations at mass. Purvi Capital brings in an abundance of experience that will help Enkidu position itself as a global platform” - Shashank Udupa, COO, Enkidu

“We’ve had a great relationship with VCs in our roles at Enkidu’s parent company, Avalon Labs, and are excited that an idea like ours that makes real use of the blockchain and smart contracts is now seeing validation.” - Varun Mayya, CEO, Enkidu

Blockchain technology makes it possible to develop collaboration, governance and profit-sharing solutions that are orders of magnitude more efficient. The Avalon team has the best blend of vision and execution experience to build the Enkidu suite of products, which is reflecting in the broader professional team they've assembled and the rapid alpha release.

Setting up an Enkidu project is free. The company makes money by taking a 0.5% fee on every Transaction. They’ve recently partnered with Asia’s largest freelancing platform, Truelancer, who will backfill 400,000 users from their database right into Enkidu’s platform. Imagine making 0.5% of every transaction on all the Delaware C-Corps out there. That’s the trillion dollar market Enkidu hopes to disrupt. Enkidu currently has their ICO dates set at June 15th and have opened their whitelist recently.