DPAD’s YCombinator for Crypto Startups: Frequently Asked Questions on Application, Selection, Fundraising and Incubation
DPAD Finance is the world’s first social venture builder creating the next generation Launchpad for founders focused on decentralized Web3 platforms. DPAD has a mission to give wings to upcoming great ideas in the blockchain ecosystem by providing a completely decentralized, transparent, and simple to use platform for project fundraising and investment opportunities in blockchain startups. Check here for the YCombinator event.
DPAD’s recent upgrading makes DPAD the first Web3’s YCombinator for blockchain startups and DeFi projects, making funding accessible for high-quality and deserving crypto projects’ founders. Over the past few months, our team has unveiled some initiatives that could make funding more accessible and encourage more startups to enroll into our fund pool. Below are some of the frequently asked questions and the responses.
Q. What is the DPAD Cohort?
A. DPAD’s cohort is put forward to relieve the burden of fundraising by startups from founders and co-founders of said startups by taking over the fundraising process. Startups accepted into DPAD’s twice-yearly cohorts will receive funding of up to 500 thousand dollars and exclusive access to our network of KOLs, investors and community builders.
Q. How many times will the cohorts happen in a year?
A. It will happen two times a year. The first cycle runs from October — March while the second runs between May to September.
Q. Who will be on the application review panel?
A. We have a conglomerate of Blockchain and Industry experts as well as Business Developers who will remain credible and neutral through the review process. The panel will be solely in charge of receiving, reviewing and accepting or rejecting startup applications for the cohorts.
Q. What is the link for the application?
Q. When will demo day happen?
A. Will be scheduled for the first week of April.
Q. What are the Parameters for selection?
A. The project must be revenue generating, sustainable and must be a visionary project (RSV). These three indices form the foundational standards upon which selections will be evaluated.
Q. What are the perks for joining the cohort?
A. For startups that are accepted into the cohort: In addition to the guaranteed $500k funding, you will also get access to
- Mentorship on how to properly build and scale a successful crypto business similar to DPAD, complete with an active community and fast growth rate.
- Access to our vast connection base of other crypto projects, VCs and advisors.
- Access to resources when building as well as guidance.
Q. What is the accepted funding type and model?
A. Basically, we help in raising funds for token sale and not equity based funding.
Q. Are there any application fees for cohorts?
A. There is no application fee for both cohorts.
Q. When will applications start?
A. Applications are currently ongoing and active until the 14th of December, 2022.
Q. When will we get to know about selection?
A. There will be updates and follow-up correspondence from the start of December to the end of December, 2022.
Q. What will happen after selection? :
A. The next focus will be on rolling out the deliverables and the fundraising. Selected applicants will join the cohorts and a series of training sessions will be held under the best practices of a standard Web3 acceleration hub from our Alumni and connections. All of these activities will head straight to the pitch day when project founders and teams will pitch themselves towards fundraising.
Q. When will demo day happen?
A. Will be scheduled in the last week of March or first week of April.
Q. Can we pitch to other VCs as well (from our connections/cohort partners?
A. Yes- In the spirit of full decentralization, there is no restriction to engagement, but we expect you to inform us if you want to explore highlighted connections sideways.
Q. What will happen after we get funding?
A. Post-completion of the DPAD cohort program, you will have obtained the knowledge to BUIDL working products that people in crypto want to use. In addition, you will also have learnt how to manage product-tokens, as well as infinitely scale your business model to meet your needs and requirements, as well as those of your community. Essentially, after funding, you will now have the power to build and run a successful crypto business!
Q. How much funds can I expect or raise?
A. We don’t have any upper cap on fundraise- it will vary for each project but we will get the minimum $500K for all selected.
Q. Are there any perks for all applicants?
A. We will be inviting you to a few selected sessions happening as part of the cohort schedules with a pool of experts to brainstorm and sharpen ideas together. There will also be some technology/grants information, connections to our partners, as well as sending invites for our partner’s future programs/key events/hackathons.
Q. I am new to crypto. Can I apply?
A. Yes
I have a very raw idea. Can I apply?
A. Yes
Q. I am ready to go live, just waiting for funding. Can I apply? Are there any privileges for products that are 80% market-ready?
A. We don’t recommend you to apply to this program, but you can connect with us for other support and also join our long list of extended Alumni networks.
Learn more about DPAD on the following links:
https://dpad.finance/blog/dpad-finance-evolves-into-the-ycombinator-for-crypto-startups/
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