Jimmy Nguyen talks about benefits of Bitcoin Association Pitch Day

As CoinGeek Seoul is set to begin this week, the Bitcoin Association are starting off the week with something they’ve never done before. The group have gathered Bitcoin SV (BSV) companies and interested investors to have the first ever Pitch Day. To talk about how it all came together, Bitcoin Association Founding President Jimmy Nguyen joined CoinGeek’s Stephanie Tower on the sidelines of the event.

The reasons why the Bitcoin Association put this together are pretty easy to understand. “We created this as a service for Bitcoin Association to be able to connect the great number of BSV ventures, startups that are happening on this, great people building on Bitcoin SV with the investor community,” Nguyen explained. “As a startup entrepreneur, you need investment to support yourselves, and there’s such excitement happening now in BSV development so essentially putting them together.”

Every idea has to come from a bit of inspiration though, and this one was no different. The last CoinGeek conference had a lot to do with this one having a Pitch Day. “In the CoinGeek Toronto conference, I got so many requests to take meetings for venture pitches,” Nguyen recounted. “I said, let’s create an event where we ask the entrepreneurs to submit investment materials which I and a few other people including the team from Two Hop Ventures screened. We selected top ones, and we’ve got about 15 here that have come to Seoul to pitch their projects in front of a room full of investors.”

And as Nguyen told Tower, the event has a dual purpose. “I was able to help gather investors from across Asia and other places to come here, so it’s got the benefit of giving entrepreneurs an opportunity to access room full of investors and also getting more investors knowledgeable and interested in the BSV ecosystem.”

And while they’ve been learning a lot, the Investors have also had some interesting pitches to entertain. “It’s a bit like Shark Tank but it’s not a competition,” Nguyen noted. “I think all of the investors so far that I’ve talked to have been really impressed by how heartfelt the startup entrepreneurs are in their feeling about BSV. They’ve also come in and said we choose to build on BSV. We choose BSV, I’d like to say, and they’ve explained why they chose BSV, why they want to help Bitcoin SV, so I think that’s been heartening to see.”

As Jimmy Nguyen has often preached, the Bitcoin industry has to grow up and professionalize. This event is a step towards doing that. “I think the process has also forced and challenged these young entrepreneurs to actually outline a business plan—think about things like how to generate revenue, what’s my operating expense going to be, how much money do I need to raise, who are my competitors, all those things that, as someone who has worked in the business world for a long time, I know you need to do for business planning.”

Another element that Pitch Day helps emphasize is the welcoming nature of the Bitcoin community, and Nguyen hammered that home. “We’ve seen a range of people today already who are experienced business owners, someone who’s had four businesses successful in China before to a young developer who’s never started a business before but has been great at creating great tools and applications on BSV, so it tells you the range of people interested in saying we choose SV.”

If you couldn’t make it to Seoul for this first pitch day, Nguyen noted that there will be future opportunities. “We plan to do this again before CoinGeek’s next big conference which should be in London in February 2020, so entrepreneurs, startup team members think about what your project might be,” he announced. “We’ll be making an announcement in the weeks to come about how you can submit your investment decks and materials to be considered for the second pitch day before CoinGeek London – February 2020.”

Bitcoin Association Pitch Day recap

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.”

Please explore and support the Bitcoin Associations Pitch Day participants sCrypt, Agora.icu, ShowPay, CityOnChain, Calendar SV, Binde, Press Bit, LetsPlay, Wheedl, True Review, GearSV and Yen Point.

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]  

Make your Bitcoin SV business ideas a reality at BSV Venture Pitch Day

Do you have a Bitcoin SV (BSV) startup venture or commercial project that could use a little investment support to make a big difference? The Bitcoin Association has some great news for you. The first ever BSV Venture Pitch Day will be held in Seoul on Sunday, September 29, just days before the CoinGeek Seoul conference starts.

If you’re looking for some venture capital support, this is the perfect opportunity to get your name out there. The Bitcoin Association will be gathering pre-screened BSV start-up ventures and commercial projects, with the best getting the chance to be introduced to potential investment partners.

The goal of BSV Venture Pitch Day is to help encourage BSV commercial ventures, and give them access to investors who could provide the resources they need to grow the ecosystem. At the same time, this will help the world experience the opportunities only made possible by the BSV blockchain and the talented entrepreneurs who want to build on it. It is another service Bitcoin Association is provides to both BSV entrepreneurs and venture investors to help grow the BSV business ecosystem.

There are a few important points to note about this opportunity. If selected for the opportunity, participants will need to cover their own travel and accommodation costs to get to Seoul, South Korea, although the Bitcoin Association will provide a free conference pass for CoinGeek Seoul conference on October 1-2. Selected ventures will get the opportunity to pitch in front of a set of investors; there is no guarantee of any investment but we certainly hope some investments are made.

If your project doesn’t make the cut for Seoul’s BSV Venture Pitch Day, keep at it. The Bitcoin Association will stay in touch and you can continue improving your project and pitch, to potentially qualify for the 2nd BSV Venture Pitch Day taking place before the next CoinGeek conference, to be held in London in February 2020.

Finally, the deadline to submit your project for this opportunity is August 30, 2019. Startups who are selected to participate in Seoul Pitch Day will be notified by the Bitcoin Association ahead of the event.

This is an incredible opportunity to make great ideas transform into fully funded businesses. Your project, which could make a world of difference on the BSV blockchain, could just be one pitch away from receiving all the funding you need to make it happen.

Submit your application today and participate in this history-making BSV Venture Pitch Day.

Follow this link to submit your application

The upcoming CoinGeek conference in Seoul is focused on Bitcoin SV, but its inclusive environment welcomes speakers and attendees who also work with other blockchain projects, and welcomes all attendees interested in learning about BSV. Get your tickets to the two-day Seoul conference here.