Cofound.it, a platform supporting startups planning crowdsales, announced its own token crowdsale runs for one month beginning May 24. Executed on an Ethereum smart contract, Cofound.it’s sale will support a distributed global platform connecting startups, investors and experts. The first $2.5 million raised supports initial platform development and strategic regional outposts, with each additional $1 million up to $12.5 million going toward the creation of a new regional subsidiary in Europe, Asia or the Americas.
“The decentralized economy is increasingly recognizing the need to establish and adhere to stricter standards and best practices,” Cofound.it cofounder and CEO Jan Isakovic said. “Cofound.it is proud to be leading the market toward a new maturity level by providing high-potential startups planning crowdsales with expert coaching in business development and optimal crowdsale processes.
“CFI will function as the currency of Cofound.it’s global marketplace platform, which will connect token crowdsale projects with world-leading experts, tools, and services. This platform, built by the blockchain community for the blockchain community, will replace the VC funding model and facilitate remote mentorship and collaboration, creating a Silicon Valley for the new distributed age.”
Some data, tools and services will be exclusive to holders with minimum CFI, the token that will be issued during the sale, while others will require direct token payment.
“Cofound.it implements a rigorous process to vet token crowdsale projects,” cofounder Daniel Zakrisson said. “This includes meeting members of the team in a two-day workshop to understand team dynamics and undergo full due diligence. Investors in Cofound.it’s token crowdsale will be granted access to see the projects that were rejected from the Cofound.it program, providing them with transparency.”
Cofound.it has recently viewed more than 40 promising projects and accepted three. The goal is to launch 10 startups this year and 30 in 2018.
Cofound.it’s advisory team includes The Business Blockchain author and Ethereum advisor William Mougayar, Week in Ethereum author and Ethereum ecosystem expert Evan Van Ness, blockchain apps and incentive design expert Vincent Eli, Collider accelerator Co-Founder David Prais, ICONOMI cofounder Tim Zagar, Deloitte senior manager Lan Filipic; and Novak Rutar Law Firm managing partner Nejc Novak.