Hackspace Capital is an accelerator system catered to hardware startups. Find out how it works today in our review.
What Is Hackspace Capital?
Hackspace Capital, found online at Hackspace.capital, is a fund-based platform that finances hardware startup companies.
The company’s token sale for HAC tokens launched on September 19 – but it only lasts for 24 hours. Hackspace Capital will have one crowdsale per month, and each sale will last 24 hours.
Hackspace Capital was founded in 2017. The company has partnered with an engineering accelerator called EnCata. Hackspace Capital will invest in and develop technology for startups identified by EnCata. The hardware startups are expected to be “the most promising early stage technology hardware and connected hardware startups”.
Hackspace Capital also plans to serve as an online shop where people can acquire products and services created by Hackspace Capital startups.
How Does Hackspace Capital Work?
After EnCata identifies hardware startups, Hackspace Capital will invest in those companies. Together, EnCata and Hackspace Capital will guide these startups through the process of creating a prototype, marketing financing campaigns, and selling products internationally.
How does Hackspace Capital take a hardware startup from the idea phase to the final stages of product launch? Here’s the basic process outlined by the company:
Most hardware technology products fail long before they reach the market – even the brilliant products. This makes it difficult for inexperienced startup teams to excel in the very specific manufacturing and business processes needed to turn an idea into a product. Hackspace Capital provides startups with comprehensive support and facilities to guide a product from the early stages of concept development to the final stages of international sales and marketing.
Hackspace Capital has formally partnered with EnCata (short for Engineering Catalyst), which is an engineering development service. The company provides design engineering and prototyping work. They’ll also provide consultancy service in the form of efficient materials list and manufacturing techniques. The end result is that startups are guided “through the perilous path from proven idea to working prototype with full design and manufacturing documentation.” EnCata’s facilities provide full-service engineering support, including a design office, project office, R&D facilities, and industrial machinery for prototype manufacturing.
EnCata has a separate, dedicated marketing company. The company provides comprehensive marketing service to all Hackspace Capital startups, including branding, development, and execution of marketing campaigns. They also provide SMM, photo and video production, and full support for crowdfunding campaigns across various platforms.
As mentioned above, Hackspace Capital has industrial machinery on-site for prototype manufacturing. However, for larger scale manufacturing, the company has partnered with producers in global manufacturing centers, letting them guide every stage of mass production.
Hackspace Capital helps startups sell products internationally, building up logistics and operations centers worldwide.
The Hackspace Capital Track Record
So far, EnCata has referred 10 hardware startups to Hackspace Capital. The company has invested in one of those companies, and is completing due diligence and preparing investments for five additional startups.
The startups are generally part of the “connected hardware” market. Think smart devices and other devices that connect real world purpose with intelligent software.
The Hackspace Capital Token Sale
The Hackspace Capital token (HAC) sale launched on September 19. However, this isn’t your typical token sale. Hackspace Capital is launching 12 token sale sessions (once each month). Each token sale will last 24 hours.
There’s a total supply of 1 billion HAC tokens. The tokens have no fixed price, and the value of the tokens will always be determined upon completion of the token sale once all tokens have been distributed. Tokens are distributed 5 days after each completed session.
A total of 51% of HAC tokens are designated for public sale through the token sales. 39% are reserved for current and future Hackspace Capital projects (the hardware startups), 5% are reserved for marketing, bounties, advisors, and bonuses, and 5% are reserved for Hackspace Capital founders and employees.
How Do Hackspace Capital Tokens (HAC) Work?
HAC token holders will have the long-term right to exchange tokens on the Hackspace platform at a 20% discount to market price for goods and services produced by the Hackspace network of companies. Plus, they’ll be able to do so 3 months before the products and services officially enter the market.
HAC token holders can freely exchange tokens for other cryptocurrencies or fiat currencies. HAC tokens can be sold on the Hackspace platform.
The company believes that the ability to purchase Hackspace goods and services at a 20% discount – and 3 months early – will provide a liquid environment and strong global demand for HAC token sellers.
Who’s Behind Hackspace Capital?
Hackspace Capital is led by CEO Mikhail Zhyvets, CTO (and CEO of EnCata) Oleg Kondrashov, CFO Michael Tavis, and CCO Dr. Petr Dudin.
You can get in touch with the company by email at [email protected]
Hackspace Capital Conclusion
Hackspace Capital is a startup accelerator focused on hardware startups – specifically, connected hardware startups (although the company may branch out in the future). To bring the products to market, Hackspace Capital has partnered with EnCata, a full-service engineering firm.
Hackspace Capital is seeking to raise funds through an ICO. The ICO has a unique structure: there will be 12 ICO sessions (one per month), each of which lasts 24 hours. The latest session was on September 19.
You can learn more about Hackspace Capital and their hardware accelerator project at Hackspace.capital.