Tuesday, October 1, 2019

“Rhode Island Inno Approved: October Tech & Startup Events to Know About - American Inno” plus 2 more

“Rhode Island Inno Approved: October Tech & Startup Events to Know About - American Inno” plus 2 more


Rhode Island Inno Approved: October Tech & Startup Events to Know About - American Inno

Posted: 30 Sep 2019 04:51 AM PDT

[unable to retrieve full-text content]Rhode Island Inno Approved: October Tech & Startup Events to Know About  American Inno

MassChallenge collaborates with Facebook for upcoming Mexico City accelerator - Contxto

Posted: 30 Sep 2019 04:05 AM PDT

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Contxto – T-minus three days until the application cycle for Facebook Accelerator CDMX 2019 ends.

If you're a Mexican startup developing technological innovations, this means that you still have time to apply to this (free) eight-week accelerator. By the end, participants will obtain new tools and mentorship provided by Facebook for some effective scaling.

"Facebook is working hard on building communities that foster entrepreneurship," said Alejandro Esteban, Project Manager for Startup Success at MassChallenge Mexico. "One of the many purposes of this program is to leverage Facebook's experience as a social media platform and all of its business products."

According to a recent email correspondence with Esteban, the event has two objectives. While the first is to assist startups in scaling via Facebook products and mentorship. These range from artificial intelligence to digital marketing tools.

Moreover, Facebook Accelerator CDMX 2019 intends to generate new community collaborations. To achieve this, there will be plenty of Developers Circles, mentoring nights, in addition to meet and greets.

Free acceleration program

MassChallenge (MC) collaborated with social media enterprise Facebook to design this in-depth event. Similar to other programs that we've covered at Contxto, the Facebook Accelerator strives to assist startups in elevating their tech products or services to another level.

Much of this will be accomplished by the tools and services that Facebook provides to entrepreneurs. 

To reiterate from past coverage, MC is a soft-landing program from Boston, Massachusetts in the United States. Ever since 2009, it has been working with startups from Israel, Switzerland, as well as Mexico.

Application cycle

If you want to benefit from Facebook Accelerator 2019, you have until October 3. Evaluation and selection will go from September 28 to October 18, with acceptance notifications coming out by October 25.

Between eight and 10 startups will be chosen, according to Esteban.

Soon after, the program will begin on November 8 in Mexico City with the closing ceremony planned for February 5. Just in time for the holidays, startups will have some much-deserved time off between December 14 and January 5, with programming restarting on January 6. 

Benefits 

There's plenty to look forward to at Facebook Accelerator 2019. Besides biweekly one-on-one mentoring from Facebook, there will also be various workshops to assist groups in measuring, implementing and growing their business models.

Moreover, there will be complementary Facebook tools, tech support, office space provided by MassChallenge Mexico, not to mention KPI (key performance indicator) check-ins. This way, every participant will know if they're on track to accomplishing their goals throughout the eight-week program. 

Last but not least, startups will partake in the Pitch Day accompanied by potential investors for the grand finale. All the while, they're going to have unhampered access to a worldwide community of entrepreneurs from Facebook 40 tech hubs.

During this time, Nicolás Araujo Müller will also be the "Entrepreneur in Residence" for Facebook Accelerator 2019. In 2017, Forbes selected the co-founder of Nebulo and Bandit as one of the 30 most influential entrepreneurs. Moreover, he's also an investor and advisor at Co Builder Hub. 

According to Esteban, the role of the Entrepreneur in Residence is to provide valuable feedback to startups from the perspective of a serial entrepreneur. experienced. More importantly, it is somebody who has founded tech-based startups and familiar with the challenges that companies face in terms of accelerating.

Requisites

Prospective startups need to fulfill a few requirements to be eligible. Right off the bat, it must have a tech-emphasis with products ready to launch, according to the event website. At the same rate, they need to have proven traction with at least US$100,000 in sales or VC funding. 

Other important elements involve B2B or B2SMBs arrangements, an in-house tech team, as well as founders or C-level executives being available for the program's entirety. Oh, they must also operate in Mexico and intend to incorporate Facebook products in hopes of scaling their businesses.

-JA

Sequoia-backed startup Band Protocol releases its first dApp 'BitSwing' that allows users to trade bitcoin binary options - The Block Crypto

Posted: 30 Sep 2019 04:45 AM PDT

Quick Take

  • Sequoia India-backed blockchain startup Band Protocol has released its mainnet and its first dApp
  • The dApp, BitSwing, allows users to trade bitcoin binary options 
  • Band Protocol co-founder and CEO, Soravis Srinawakoon, told The Block that binary option is "one of the simplest financial derivatives that most people can understand"

Band Protocol, a blockchain startup backed by venture capital firm Sequoia India, has released its mainnet as well as its first decentralized application (dApp) called "BitSwing," which allows users to trade bitcoin (BTC) binary options, a type of derivative product.

Revealing the news exclusively to The Block on Monday, Band Protocol said BitSwing users will be able to take a long or short position in the BTC/USD market by predicting whether BTC's price one minute later, will be higher or lower than the spot price.

"Binary option is one of the simplest financial derivatives that most people can understand," Soravis Srinawakoon, co-founder and CEO of Band Protocol, told The Block, adding that when BitSwing was launched in testnet for one week, it saw over 40,000 transactions – "a significant adoption rate for dApps."

To participate in the binary options trading, users will have to install Metamask or any similar Web3 wallet that operates on the ethereum-based Kovan testnet, Band Protocol said. Users will then be able to take a long or short position via ether (ETH), betting if BTC will go up or down from that initial position, determined by Band's decentralized data oracle. "If you are correct, you double the amount of ETH you put in otherwise you lose your stake," Srinawakoon told The Block.

Indeed, that's how binary options work – more like a prediction, which can either be right or wrong, but nowhere in between.

Admitting that the one-minute window is "too short," Srinawakoon said that the window will be expanded as well as more cryptocurrencies will be added to show the potential of decentralized finance or DeFi.

Revenues?

Band Protocol said the testnet launch of BitSwing helped it earn $12,000 worth of testnet ETH in data query fees in its first two weeks. "If the trend continues, Band Protocol is expected to generate over $300,000 in value per annum for its ecosystem via BitSwing alone."

Srinawakoon told The Block that query fees are paid to data providers as an incentive to provide "accurate" data and are paid by dApps who query the data. He added that it is similar to how centralized applications pay for API (application programming interface) access to retrieve data from other websites. Band Protocol gets its price data from sources including CoinGecko, Binance and Upbit and others.

The launch of mainnet and BitSwing follows Band Protocol's initial exchange offering (IEO) on Binance Launchpad earlier this month via its native token BAND. The firm raised $5.85 million through the IEO, bringing its total funding to date to $10.85 million.

When asked why Band Protocol needs its own token, Srinawakoon told The Block that "similar to how BTC is needed to incentivize miners to act honestly, BAND tokens are used to incentivize data providers to provide accurate data and for token holders to vote for the most trusted data provider to ensure data integrity."

He added that the firm will continue to work with Binance and other cryptocurrency exchanges to ensure "maximum liquidity for our tokens to the widest audience globally," concluding:

"We are fully decentralized so our revenue will come from our staked tokens. We will use most of our tokens to stake for data providers and earn part of query fees. This ensures our long term sustainability as we do not depend solely on the token's volatile price."

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