With the premiere of CoinGeek’s latest BSV Stories featuring the Satoshi Block Dojo coming up next month, the timing is perfect to encourage startup companies in the blockchain space to apply for the Dojo’s East London Cohort 3.
Are you an early-stage blockchain start-up or have a revolutionary tech idea? We’re a blockchain incubator seeking new start-ups to join our next Cohort. If you’re looking to get started, scale up or learn from the Dojo, apply today!https://t.co/9GDxoafUvp#startup #incubator pic.twitter.com/k1MM5pkW6O
— Block Dojo (@Block_Dojo) June 13, 2022
The deadline for application submission is August 1, 2022, and there are numerous reasons why early stage blockchain startups or those with a revolutionary tech idea should consider applying today.
Why sign up?
“Potential Blockchain Entrepreneurs have absolutely nothing to lose by applying to the Dojo,” shared Craig Massey, serial entrepreneur, investor and chairman of the Satoshi Block Dojo.
As a member of a Dojo Cohort, entrepreneurs receive £10,000 up front to get them through the three-month program which includes intense training sessions and the opportunity to work with 122 mentors across many industries.
“Our job at the end of the programme, means they will have a real-live working prototype, a first potential client, great pitch deck, financial model and the ability to articulate their company to investors. We then introduce them to over 200 investors,” confirmed Massey.
“We are making incredible connections with the U.K. and European venture capital space, and there is incredible interest in the companies that come out of our programme, investors are looking at blockchain tech as a safe haven when it comes to an economic downturn,” added Jay Gujral, newly appointed Managing Director of Dojo U.K..
Dojo U.K. Cohort One alum Charles Symons of Buzzmint, an NFT/token platform, had an exceptional experience with the Dojo team and encourages blockchain startups to get involved with this once in a lifetime opportunity.
“Quite simply, there’s not a better bunch of super qualified but down to earth people who possess not just a wealth of relevant start-up experience BUT actual highly successful start-up experience- there’s a BIG difference,” Symons shared.
“They will guide through the mother of emotional rollercoaster ride that is ‘The start-up,’” he confirmed.
Soundoshi, a BSV-based platform set to disrupt the infrastructure of the music industry, benefited immensely from their time with the Dojo as part of Cohort 1.
“The Dojo is a complete business and technical training in the BSV area and beyond and you can’t get a better start then here. It is the most comprehensive incubation program in the whole crypto industry, and the team developing the Dojo is really on top of their game,” shared Michal Scislowski, CEO of Soundoshi.
“It gave us all necessary business foundations, created a higher sense of opportunity and responsibility among the team and trained me from developer to manager which was very important for the next stages of our project,” he said.
“They connected us with an amazing set of mentors who helped us to derive the proper value proposition of our business that later helped us tremendously to get funded from private investors,” Scislowski confirmed.
What is different about the Dojo?
There are plenty of startup incubators out there—especially in London—so what is it about the Dojo program that makes it so different?
“At the risk of being boastful, for blockchain specific startups, we are significantly better than Techstars,” revealed Massey.
“We go much, much further with everything from in-house UX/UI design, tech support and software build, identifying real-world clients, financial modelling and for our best investors, getting them involved from week 10, so that they have better visibility and can make earlier decisions ahead of the pack,” Massey explained.
“Most other incubators literally provide a desk, a few mentors and some tutorial materials—so have none of the deep level of interaction that we provide,” Massey said.
“At The Dojo we’re incredibly hands on, Alex our Programme Director has the founders in 4 days a week where they learn in a classroom format, everything that need to know about business,” Gujral added.
“By the end of The Dojo programme you will have a Minimum Viable Product or Minimum Viable Solution to wow investors with at our investor lunches and pitch days—we then stay with you for up to 12 months outside of our programme to help you raise your seed round!” he said.
Experience with the Dojo as a startup
While it’s one thing to hear from the Dojo team about their program, it’s another to hear from those who have gone through the program as a start-up company in the blockchain space. Symons described his experience in three words—useful, truthful, and fruitful.
“Everything about the Dojo Team came from a desire to be as useful and practicable for a start-up as they possibly could be – the management team of the Dojo NEVER shied away from being truthful with us – even if it meant egos sometimes got a little bruised,” he said.
“Since we have left the Dojo, every class, every mentor and every lesson we learnt has born commercial fruit in one way or another,” Symons confirmed.
Aside from the quality of the program itself, what makes the Dojo experience extra special for startups are the genuine people who are behind it.
“Craig is probably the kindest man I ever met in my life, for me he is kind of special, as I perceive him as a mentor who introduced me to the business world and taught me some principles about startup life, which I will be grateful for forever,” Scislowski said.
“I love all of the dojo team, but I want to give special credits to the silent heroes of the Dojo—Robin Kohze providing the teams with top level BSV infrastructure and detailed software development know-how and Jay Gujral who is really pushing you forward towards funding, partnerships and strategic customers every single day,” he added.
Of course, the proof is always in the pudding. The success stories from the startups who joined the Dojo U.K. for Cohort 1—including Buzzmint and Soundoshi—are nothing short of impressive, especially considering the Dojo only launched in January of this year.
“Seven out of eight got funded from a minimum of £125k to £500k, however, three companies could have secured more cash but cleverly negotiated a draw down mechanism for more cash based on a different valuation but only if they hit their agreed milestones. Six out of seven had a full working prototype,” confirmed Massey.
Gujral added, “The one incredibly exciting point would be Buzzmint and Soundoshi collaborating to sell a physical and digital Renoir at the largest BSV conference in Dubai, a less than 3-month-old company, selling a $3mn piece of art work. It’s genuinely mindblowing!”
Looking into the future, Gujral has some aggressive plans for the East London Dojo, including more external events and collaboration within the community at their Plexal offices. He is also looking forward to working closely with Dojo alums and continuing to support them in their endeavours after they graduate the program.
“This is why we’ve invested heavily in platforms such as Envestors and learning programmes such as The Founders Revenue Academy to really make sure that it’s not only the cohorts being looked after during the 12 weeks but that the start-ups know that we’re supporting them when they fly the nest,” Gujral shared.
As an alum himself, Symons confirmed his relationship with the Dojo team is still going strong and that they always assured him and his peers the door would be open.
“We have in fact already gone back into the Dojo to meet the new Cohort and help to pass on some of what we learnt—and of course to build a Dojo community which we are proud to say we helped lay the foundation stone for,” Symons revealed.
Scislowski added, “The help doesn’t stop after the Cohort finishes, Dojo team is actively supporting all the teams, and provides us with mentoring, consulting and business/investment opportunities all the time.”
Watch: BSV Global Blockchain Convention presentation, The Next Big Thing: Incubating Startups on the BSV Blockchain
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