Under the umbrella organisation – Iconiq Holding – there will initially be two main subsidiaries, namely Iconiq Lab and Iconiq Fund, creating a digital asset management system powered by the native token, ICNQ.Īn additional arm, Iconiq Media, will publish weekly podcasts called Unbloqed and run related events and promotions. Whilst they are sufficient to get a feel for the project, there are a couple of gaps in the presentation that account for its relatively thin content – there is no roadmap, for instance. The latter, as the name suggests, is a more diagrammatic presentation of the project but also focuses mainly on the use of the ICNQ token’s utility. The project team has produced a standard 28 page white-paper and a similar sized colour-paper. Once the potential of a project has been established, holders of the Iconiq token (ICNQ) will be able to invest at the private-sale stage – as individual, ‘mini’ venture capitalists – reaping the usual discounts and bonuses this round of funding brings, whilst having confidence in the pre-vetted overall value of the project. They will fund the start-up, develop their business and token model and bring it to market in a token generation event.Īny company can apply for the programme but Iconiq will only partner with those identified as amongst the most promising post due diligence. Iconiq is an accelerator programme for companies who wish to run an initial coin offering or token sale. Even full-time investors have a time-consuming task in locating worthy ICOs amongst the hoard and those decent projects are finding it increasingly difficult to reach their ideal funding targets. The sheer number of companies seeking investment means both sides of the equation are facing challenges. While the ICO model has allowed a significant number of ground-breaking projects to come to market, it has also unleashed a barrage of new companies seeking injections of cash on little more than a white-paper and a prayer. The purpose of VC firms was briefly challenged by new crowdfunding models such as Kickstarter but it is the truly decentralised route provided by initial coin offerings that has revolutionised the industry. Reported failure rates of new companies varies between 20-30% but it is widely assumed under-reporting means that, in reality, at least half of start-ups close shop in their first year. In committing to the projects, VCs hope that at least a percentage of the firms they support will become successful and provide them with high rates of return on their investment. Venture capitalist (VC) firms and individuals with access to large bank balances have traditionally provided funding for new or growing businesses who want to expand but cannot, or do not want to, raise investment through the equities markets.
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