Block Dojo has emerged as one of the most prominent venture builders in blockchain startups and, over the past two years, has helped launch some of the biggest successes in the space. According to Alex Ball, this success is built on a high-risk appetite as it invests in these ideas at a formative stage.
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Ball is the global program director at the London-based blockchain startup investor and venture builder. He joined the Dojo after working for nearly two decades in the financial sector, including at the Bank of England (BoE) and with the Dutch giant ING (NASDAQ: ING).
In an interview with CoinGeek Backstage reporter Claire Celdran, Ball talks about how the Dojo hunts for opportunities where most people see problems. The incubator walks with an innovator throughout the entrepreneurial journey in a high-risk-high-reward approach.
“We are right at the beginning of the journey in terms of funding those startups, [which is] the highest part of the risk curve as well. We are taking a huge amount of risk investing in these startups at such an early stage,” Ball noted.
Globally, startups are a high-risk game. While the cream of the crop that surges to unicorn status and draws in billions in investment takes all the spotlight, chances of success for the majority are slim. Data shows that 63% of startups don’t make it, and 25% shut down within their first year. Only 10% survive in the long run.
These statistics are already grim, but the chances of success are even slimmer when you narrow down on blockchain startups. This makes it critical for the Dojo to select the right participants in its 12-week programs and offer them all the support they need to stand an opportunity.
“We combine the investment with the access to the program so that we can really lean in, coach, educate, and help out those entrepreneurs so they can be successful.”
The Dojo’s approach has been a massive success. After launching in London, it expanded to the Philippines, and over the past two years, it has incubated over 70 startups in eight cohorts. Some of its successes include Buzzmint, Combat IQ (which partnered with the UFC recently), and MoveGenius, which raised its pre-seed round at a £3.5 million ($3.9 million) valuation.
On his advice for startups, Ball called on founders to structure their businesses in a way that effortlessly showcases their product, the challenge it’s solving, and their revenue creation roadmap.
Watch: Block Dojo PH unleashes startups potential
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Source: https://coingeek.com/how-block-dojo-startups-turn-real-problems-into-opportunities-video/