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Podim: ICOs Changed Everything and Nothing at the Same Time

Podim: ICOs Changed Everything and Nothing at the Same Time

Date: May 17th 2018

Author: Alenka Lena Klopčič

Category: En.vision

Topic: New technologies , Economy

Initial coin offerings (ICOs) changed everything and nothing at the same time, said Carlos Eduardo Espinal of Britain's Seedcamp at this year's Podim Conference 2018 in Maribor, Slovenia. In just over a decade, Espinal helped over 270 companies to get investment, whereas Seedcamp also makes its own investments using crypto tokens. So how will ICOs contribute to the world of startup investment?

internet, digitalizacija, podatki pixabayIt all starts with building the company’s corporate culture, which already mitigates potential conflicts between founders, whereas the next step is employing the right staff – not forgetting about diversity – and preparing a realistic business plan, including the right timetable for obtaining the funds to develop the business, that is, the operations, followed by the creation of a network of people who we wish to include in the development of our company, Carlos Eduardo Espinal told the startups at the conference, stressing that it is also important to know how much will be invested in the marketing and promotion of the ICO campaign, and in what way. According to some estimates, this now costs an average of USD 1 million, added Espinal.

In the panel which followed, investors Philippe Suchet (Spider Capital Partners), Jure Mikuž (South Central Ventures), and David Prais (Cofound.it) warned that we still need to be very careful in this regard, both when the investments are carried out by funds and in the case of ICOs.

“The share of crypto-millionaires, who are remarkably young, is very high in Slovenia,” said David Prais, adding that some of them are highly skilled at communication and (self-)promotion, whereas others focus mostly on one thing – the work. However, the intentions of both will become quite clear in the following months, said Prais.

According to Carlos Eduardo Espinal, ICOs do not interfere directly with traditional funds or their investments, but simply contribute to the diversification of the investment part of the startup ecosystem. He added that he expects to see an increase in quality both on the side of the investors and on the side of the startups looking for investors.




This article is available also in Slovene.



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