Necessity they say is the mother of invention but being aware of the problem is not enough. It’s really not just about the ideas but making these ideas happen and this has been the fate of many start-ups in the past years. Young chaps who have ideas end up not pursuing it to fruition, the ones who did watch their efforts go down the drain in a rather manipulative economic system and this has left quite a number of start-ups where they find their ideas being hijacked by big companies who have the funding to go through with it even when it seems unprofitable.
For you to have a full understanding of how the ecosystem works, you need to consider its three basic components. These are; SprintX, SwitchX and Fundación NOVA. Each of these components interact to benefit startups, companies and investors.
Let’s explore how each of these components addresses specific issues in the current Startup and Financial industry.
According to the description provided in the whitepaper, SprintX is the ICO maker and smart contract generator. Its function is summarized below;
- To evaluate and analyze each application to know if the Startup can move to the next phase and be developed with the NOVA Foundation.
- To launch ICO for Startup after Incubation Process is completed.
- To provide Smart Contract, Advisory, Digital Strategy, and ICO Services for Startups
- To receive incoming applications from Startups
- We’ll further discuss the SprintX platform later.
With start-ups atop the mind of the platform,
SprintX aims to provide support for start-ups having a hard time getting financial support either from banks or from investment companies majorly due to no previous records or profits. The platform will breach the gap between the start-up and the real world by providing tools that can help advance their business idea with the creation of the start-up specific ICO for the actualization of the idea.
Since ICOs are majorly funded through cryptocurrencies, there is the
need for conversion of crypto funds back to fiat currency which will be used to finance the project. To tackle this, Sprintx will help list the tokens on an exchange known as SwitchX. SprintX and SwitchX will serve as a
launchpad for start-ups with a profound partnership with Fundacion’s NOVA, a platform that has
prominent expertise in the start-up space.
NOVA will provide professional counsel and mentorship to entrepreneurs through programs that it offers on its platform. With the advent of the blockchain technology,
it has become quite possible to create self-sufficient communities aimed at driving innovation for a better and stress
To achieve the SprintX plan, the organisation will not only be launching its own platform, which will be accessible for entrepreneurs, it will also be acquiring 6 existing banks in various parts of the world basically for services aimed at improving the start-up community. There are also plans to open campuses where intending entrepreneurs can be trained and their ideas can be fully formed.
- Ticker symbol: SPTX
- Token standard: ERC20
- Total supply: 2 600 000 000 SPTX
- Soft cap: 50 000 000 SPTX
- Hard Cap: 723 450 000 SPTX
- Pre ICO: March 19 – April 10, 2018
- ICO: April 23 – June 23, 2018
- Token price: 1 ETH = 1785 SPTX
- Minimum purchase: 0,05 ETH
The total amount of token available is 2,600,000,000 SPTX. The largest percentage of the SPTX tokens, 33 percent, will be used for public sale. Next, 494,000,000 SPTX, which is 19 percent of the token will be reserved for M&A. Another 18 percent will be allocated for business development, while 15 percent goes to management.Finally, the remaining 13 percent is divided among advisors, developers and bounty. A total of 260,000,000 SPTX goes to the advisers, 26,000,000 SPTX reserved for bounty and 52,000,000 SPTX for developers.
The purpose of the ICO is to raise enough fund to allow proper development and evolution of SprintX. As such, the funds raised will be distributed as follows. The largest percentage of the fund goes to SprintX capitalization; that is 60 percent.
Twenty-four percent of the fund will be allocated to Nova foundation and legal, and 10 percent of the fund will be dedicated to platform development. Finally, 5 percent of the fund will be used to pay for property and the remaining 1 percent will be distributed among management and team.
Website - https://sprintx.io
Whitepaper - https://sprintx.io/docs/whitepaper-sprintx-en.pdf
Telegram - https://t.me/sprintXICO
Twitter - https://twitter.com/ICOsprintx
Authored by - Bunaakru https://bitcointalk.org/index.php?action=profile;u=1803113