In the lead up to the CoinGeek Conference in Seoul, the Bitcoin Association put together a pitch day where Bitcoin innovators were offered 30 minutes to pitch their business idea to a room full of venture capitalists and equity fund partners.
The all-day event featured 14 presentations of ideas and businesses at various stage of development.
The presentations followed a very structured format to ensure each there were equal opportunities with the investment groups. They would lead with a 15-minute pitch, and then they would have 15 minutes to answer questions ranging from company valuation, questions about their technology and future growth plans.
The presenters included social media apps, smart contracting solutions, payment gateways, and several consumer applications.
Jerry Chan from the Bitcoin Association commented on the event, “It was very exciting to see all of the innovative ideas coming from these entrepreneurs working in the space and very encouraging to see real business use cases being explored in Bitcoin which focus on its non-financial properties. I expect a lot of new blockchain base developments to spring from this cohort of pioneers.”
The personal standouts were True Reviews and GearSV.
TrueReviews.io is a site that aims to solve the problem of fake business reviews. As consumers are relying less on advertising and more on reviews when making purchases, the influx of “fake” reviews, both negative or positive, are becoming pervasive on consumer rating sites.
“We were very fortunate to have the opportunity to participate in this exciting event that allowed us to show our product to such a great group of investors and learn what they are looking for when choosing to invest in Bitcoin projects. It is so great to see such a diverse group of investors looking to bootstrap projects in the Bitcoin ecosystem.” Connor Murray CEO of True Reviews
GearSV, presented by Sean Pollock, showcased a smart contracting solution for Bitcoin SV. Pollock comes from the Ethereum world shared his reasons for building his solution on Bitcoin SV.
What stood out was Pollock’s confidence and his matter of fact approach. He identified a problem and went creating a solution with GearSV built on Bitcoin SV, Unwriters Neon Planaria and Bitbus library.
Pollock said of the event, “CoinGeek pitch day was a special event. Talented young companies pitching in front of some of the greatest minds and investors in crypto. It was honor to speak about GearSV and the future of blockchain computing. The fully scalable smart contract platform has arrived, and it is built on BitcoinSV.”
Two other very impressive presentations requested anonymity, but considering the strength of their projects, they will become well know when the time is right.
Speaking on the success of the event, Managing Director of Private Equity for the Ayre Group Paul Rajchgod said, “I think we saw some exciting opportunities to invest in, and though all are at different stages of their development (some are still ‘just an idea’, while others already have revenue and robust growth underway), I think there was a common thread of solid ‘Bitcoin knowledge’ and focus on building their enterprises with BSV at their core.”
If you have an idea or business that is ready for outside investment and want to be considered for future Bitcoin Association Pitch Day event please submit your applications here. (note applications will be accepted again after the conference)
The Ayre Group is always looking for new opportunities. Please send your packages to [email protected]