How to Develop and Launch Your Own Project: Tezos Accelerator Rounded Up
Encode Club is an organization that runs accelerators for aspiring developers. A week ago they finished a ten-week Tezos development program.
We talked to a participant, who built a liquidity aggregator Picky.fi during the accelerator, and found out what it was like and what was taught there. It turns out that it’s not just the quality of the product that matters for success, but also the pitch.
The Inner Workings of Encode Club
An accelerator is a program seeking to help promising projects at their early stages. Encode x Tezos Accelerator gathered the best projects from hackathons to do just that. The registration was open, and, among others, Ihor Pavlenko, Tezos Ukraine DeFi Hackathon 2022 participant, signed up, too.
What it was like:
- weekly master classes on how to create a project;
- a special mentor and team meeting;
- intensive development for 10 weeks (but not full-time);
- a final meeting for debriefing.
Each week the teams met to discuss projects and help each other. The tenth and final workshop was a pitch day where teams presented their projects. Participants received $4,000 scholarships to further develop them.
From the Mouth of the Participants
To qualify and participate in the accelerator, participants had to submit a concept.
“If you have any idea, try to implement it in as simplified a form as possible, which, however, could showcase its essence. Then it will be easier for you to develop it within the accelerator program.”
Ihor decided to build an app, Picky.fi, to compare token exchange quotas in different liquidity pools on Tezos. Then he turned it into full-fledged liquidity router (or aggregator) capable to swap any tokens with the lowest slippage.
After the selection, the accelerator organizers invited the teams to take part in a joint call. There were 10 teams in total, all having one to five participants. The range of concepts was also very diverse, from development tools to social networks to casual games.
What followed was something similar to speed dating, only for developers. Twice a week participants gathered in Discord and Zoom, and once every seven days they had individual mentor calls with their teams.
In addition to the online meetings, developers participated in one-hour weekly workshops. There they discussed and solved issues like investment seeking, marketing, and applying for grants. The most unexpected point along the way, however, was an AMA session with the founder of Tezos, Arthur Breitman. The rest of the team’s activities were planned on a free-form basis, as many had other work besides participating in the accelerator.
The final stage was the presentation of the projects. Each startup was given 3 minutes to make its pitch. The participants also had to show a video of their product’s operation. Mentors helped them prepare for the final pitch with comments and advice.
The main recommendations for launching a successful project were as follows:
- Have an active Twitter account. There should be informative and stable posting that would draw in more potential investors and supporters;
- Form your own audience. Target those who already know about Tezos;
- Learn how to present. Most importantly, think about what in your product is worth talking about in the first place.
For our part, we want to thank the participants for their detailed feedback and wish them good luck in developing their startups further together with Tezos!
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