Analysis of ICO Hackspace Capital
Hackspace is an online blockchain platform/shop to acquire products and services created by Hackspace startups and partner companies. Hackspace provides startups with numerous services such as: legal support, business consulting, marketing, R&D and research, preparation for mass production etc. The broader goal of the platform is to become a worldwide engineering incubator. Hackspace plans to use funds from its development to create infrastructure in key global innovation hotspots to foster next generation of inventors and entrepreneurs.
Business plan misses key components like financial projections and competitor analysis. Business model is built on a partnership with EnCata - the leading regional (based in Belarus) catalyst for hardware startups. EnCata will identify most promising hardware/hardware connected products and Hackspace will have an exclusive opportunity to review and invest in these projects. During 2017, 10 companies were identified and referred to Hackspace.
All financial relations within the ecosystem are established by the means of HAC Tokens. Most successful projects will be given HAC Token grants to utilize manufacturing services of the platform. Certain products, services and deals will be available exclusively to token holders thus creating a long-term demand for tokens. Token sale: 51% of tokens distributed as of 02.04.2018 (ICO ends 20.09.2018).
Project’s marketing is built on the basis of EnCata marketing company. It provides Hackspace with the following services: branding, development/execution of campaigns, SMM, production, support of crowdfunding campaigns; market research and demand analysis. The team is active on social media platforms and numbers of followers are solid, but they need to improve on Telegram.
The team has an extensive experience in IT and development, there are also financial and marketing specialists. But there are no advisors and no expertise in blockchain.
The Vision of the Market
There is no market research and competitor analysis, so the vision of the market is not clear. There is also no market overview or data relevant to project’s industry.
Understanding of the Target Audience
There is no segmentation, but target audience could be generally divided into two groups: hardware developers (companies and individuals) and consumers.
HAC Tokens will allow token holders to acquire not just one piece of a product in its design-to-manufacture stage but any product or service in the portfolio at up to 20% discount and up to 3 months before the official market entry.
Strengths: Hackspace is a company formed in 2017 for investing and connecting hardware startups in partnership with EnCata, portfolio of real products.
Weaknesses: no financial projections/financial plan, no roadmap, very short description of the project, the White Paper doesn’t cover many relevant points, team should have more diverse backgrounds and advisors. No market overview.
The idea behind the project has potential, but it is poorly presented and more additional information is required.