Abstract
The dynamic nature of startups is linked to both high risks in investments as well as potentially important financial benefits. A key aspect to manage interactions among investors, experts, and startups, is the establishment of trust guarantees. This paper presents the formalization and implementation of a system enforcing trust in the startup assessment domain. To do so, an existing architecture has been extended, incorporating a multi-agent community and related interactions via private blockchain technology. The developed system enables a trust-based community, immutably storing, tracking, and monitoring the agents’ interactions and reputations.
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Notes
- 1.
“unicorns”: startups companies which have market value of 1 billion dollars (or more). This term is widely used in venture investment industry. Highly successful startups. It commonly refers to businesses having valuation higher than a certain amount (e.g., 1 BLN dollars).
- 2.
The features implemented in the ledger are listed in Appendix A.
- 3.
The features implemented in ledger are listed in Appendix B.
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Appendices
A Startup Self-evaluation Features
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Product: technology/product, value proposition, scalability, and IP rights;
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Customer: customer development, targeted market, and regional coverage;
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Market competition: competition, current partnerships, need in the market, marketing, and PR Strategy
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Finance: business model/tokenomics, current financial situation, pace of ROI, and exit Strategy.
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Team and administrative: components, team experience, company registration, and legal aspects;
B Startup Assessment Features for Expert Evaluation
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Team: experience, roles covered, traditional Media, and social media proof (in regards to the team and their connection to the project), blockchain knowledge and experience, and advisory board;
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Product/Service development: stage of development, proof of stage of development, speed of development, roadmap, correlation between, plans and capacities, innovativeness of the product/service, sufficiency of resources/assets for creation of the product, specialised conferences participation, and comments;
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Technology chosen: technology fits the goals of the product/service, technology helps to create the value added in the best way, the level of internal risk wrt. the use of the technology, coding activity, blockchain added value, and comments;
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Added value and problem solved: product/market fit, relevance added value, solved problem, difficulty in creating value, and comments;
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Market research: differentiation, Economies of scale, competition analysis and understanding, real competition, and comments
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Customer development: target audience (analysis), market size, market fit, market share potential, and comments;
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Marketing strategy: marketing documentation, channels of distribution, clear positioning, partners, media coverage, online marketing activities, offline marketing activities, power of buyer, and comments;
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Business model and tokenomics: financial planning, business model validity, tokenomics margin, power of buyer and supplier, access to finance, and comment;
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Risks: political, economic, social, technological, environmental, legal, and internal;
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Calvaresi, D., Voronova, E., Calbimonte, JP., Mattioli, V., Schumacher, M. (2019). A Startup Assessment Approach Based on Multi-Agent and Blockchain Technologies. In: De La Prieta, F., et al. Highlights of Practical Applications of Survivable Agents and Multi-Agent Systems. The PAAMS Collection. PAAMS 2019. Communications in Computer and Information Science, vol 1047. Springer, Cham. https://doi.org/10.1007/978-3-030-24299-2_6
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