The Berkeley Blockchain Xcelerator is a program that helps early-stage distributed ledger technology (DLT) startups succeed. The program provides startups with access to resources such as mentorship, funding, and networking opportunities.
In an interview with Cointelegraph, the director of the Berkeley Blockchain Xcelerator Jocelyn Weber, shared her advice for early-stage DLT startups.
Focus on solving a real-world problem
Weber says that the most successful DLT startups are the ones that are focused on solving a real-world problem. “The best startups are the ones that are solving a real-world problem that people have,” she said. “They’re not just building something new for the sake of building something new.”
Weber recommends that startups focus on a specific problem and then develop a DLT solution for that problem. “It’s important to focus on a specific problem and then develop a DLT solution for that problem,” she said. “Don’t just try to build a general-purpose DLT platform.”
Build a strong team
Weber also says that it’s important for DLT startups to build a strong team. “The team is the most important thing,” she said. “You need to have a team that is passionate about the problem you’re trying to solve and that has the skills and experience to build a successful startup.”
Weber recommends that startups look for team members who have experience in blockchain, cryptography, and business development. “It’s important to have a team that has a good understanding of blockchain technology and cryptography,” she said. “You also need to have a team that has business development experience so that you can commercialize your product or service.”
Get involved in the community
Weber also says that it’s important for DLT startups to get involved in the community. “The blockchain community is very supportive of early-stage startups,” she said. “There are a lot of resources available to startups, and the community is always willing to help.”
Weber recommends that startups attend blockchain meetups and conferences, and that they get involved in online blockchain communities. “There are a lot of online blockchain communities where you can ask questions and get feedback from other people who are working in the industry,” she said.
Be patient
Weber says that it’s important to be patient when building a DLT startup. “Building a successful DLT startup takes time,” she said. “Don’t expect to become successful overnight.”
Weber recommends that startups focus on building a strong foundation and on developing a deep understanding of the problem they’re trying to solve. “Don’t rush to launch a product or service,” she said. “Take the time to build a product or service that is well-designed and that solves a real-world problem.”
Success stories from the Berkeley Blockchain Xcelerator
The Berkeley Blockchain Xcelerator has helped a number of startups succeed. Some of the success stories from the program include:
- Insolar: Insolar is a DLT platform that is designed to be scalable and secure. The platform is being used by a variety of companies, including the Russian government.
- AnChain.ai: AnChain.ai is a cybersecurity company that provides solutions for the blockchain industry. The company has raised over $17 million in funding.
- Bitmark: Bitmark is a company that provides digital asset management solutions. The company has raised over $4 million in funding.
Advice for startups looking to launch in the crypto space
Weber offers the following advice for startups looking to launch in the crypto space:
- Focus on solving a real-world problem. The most successful startups are the ones that are focused on solving a real-world problem.
- Build a strong team. The team is the most important thing. You need to have a team that is passionate about the problem you’re trying to solve and that has the skills and experience to build a successful startup.
- Get involved in the community. The blockchain community is very supportive of early-stage startups. There are a lot of resources available to startups, and the community is always willing to help.
- Be patient. Building a successful DLT startup takes time. Don’t expect to become successful overnight.
The Berkeley Blockchain Xcelerator is a great resource for early-stage DLT startups. The program provides startups with access to resources such as mentorship, funding, and networking opportunities.
If you’re thinking about launching a DLT startup, I encourage you to consider applying to the Berkeley Blockchain Xcelerator. The program can help you increase your chances of success.
