From Idea to Impact: The AuditOne Story

March 26, 2024
by
Christian Sauer, Founder of soonami

The journey from idea to impact is rarely a straight line for startups. It is a path filled with challenges, pivots and valuable lessons learned along the way. At soonami, we are passionate about helping startups navigate this journey by leveraging the power of web3 and AI. By sharing the stories and insights of successful founders, we aim to inspire and guide the next generation of entrepreneurs.

One such founder is Adrien Resch, the CEO of AuditOne — a leading smart contract auditing platform. During our recent Ask Me Anything (AMA) session, Adrien shared his experiences and the evolution of AuditOne from an early startup to an established player in the space.

The Early Days

AuditOne's story began four years ago when Adrien joined an incubator program, which provided founders with opportunities to explore ideas, find co-founders and build teams. This vision aligns perfectly with the mission of soonami's Foundance platform, which aims to provide startups and founders with the support and resources they need to succeed.

During that time, Adrien met his co-founder, Raja, who would later become the CTO of AuditOne. Together, they started a company called CoinRisk — focusing on risk analytics and auditing projects in the web3 space.

However, Adrien and his team soon realized that the incubator they were part of lacked the specific expertise and network they needed to scale their venture effectively. This realization led them to seek out new opportunities and partnerships that could help them take their startup to the next level.

The soonami Connection

As CoinRisk grew and evolved, Adrien and his team recognized an opportunity to collaborate with soonami. At the time, soonami was working on a project called AuditOne, which aimed to connect audit firms with clients in need of smart contract audits. The synergy between CoinRisk's offerings and AuditOne's vision was undeniable.

Adrien recalled, "We saw that soonami was working on AuditOne and we thought it would be a great complement to what we were doing at CoinRisk. They had the expertise, network and resources that we were looking for to really scale our idea."

After a series of discussions, CoinRisk and AuditOne made the strategic decision to merge and combine their strengths. This pivot marked a turning point for both companies — setting them on a path towards growth and success.

Left to right: Adrien Resch, CEO; Raja Thota, CTO; and David Velek, COO

Building the Platform and Community

With a clear focus on smart contract auditing, AuditOne set out to build a platform and community that would revolutionize the space. They onboarded auditors from diverse backgrounds — ensuring they possessed the necessary experience and underwent rigorous vetting processes.

Adrien emphasized the importance of focusing on both the supply and demand sides of the equation. By partnering with different ecosystems and implementing referral programs, AuditOne was able to attract a steady stream of clients while also building a strong community of auditors.

One of the key factors that sets AuditOne apart is its unique hybrid model, which combines elements of an audit firm and an audit contest platform. This model ensures that auditors are motivated and incentivized to identify issues — providing a comprehensive and reliable auditing service.

Lessons Learned and Advice for Founders

Throughout his entrepreneurial journey, Adrien has gained valuable insights that he believes every founder should consider. One of the key insights is the importance of being customer-centric and building a product that addresses real pain points. Adrien advises, "Once you have a minimum viable product (MVP), get it out as fast as possible. Get feedback from as many users or clients as possible and iterate."

This emphasis on creating a product that solves genuine problems for the target audience resonates with us at soonami. Seeking feedback early and often is crucial for founders to refine their offerings and ensure they are meeting the evolving needs of their customers.

Another crucial aspect Adrien touches upon is the significance of finding the right partners and team members. "Make sure that the people you are partnering with are complementary, you have chemistry with them and you are passionate about what you are doing," he stresses.

Building a strong and well-rounded founding team is the foundation of any successful startup. Founders should actively seek partners who bring diverse skills and perspectives to the table — enabling them to tackle challenges and seize opportunities effectively.

When discussing marketing strategies, Adrien highlights the power of social media and conferences for B2B startups, particularly in the web3  space. "For Web 3.0, social media like Twitter and LinkedIn are essential for exposure. Conferences are also important because projects usually attend them — allowing for in-person discussions and human interaction," he notes.

This insight reinforces the belief in the value of leveraging social media and attending industry events to showcase expertise, connect with potential clients and stay attuned to the latest trends and developments. While technology is undoubtedly a driving force in today's business landscape, the power of face-to-face interactions and genuine human connections cannot be underestimated.

The Future of AuditOne

Looking ahead, AuditOne is focusing on decentralization and harnessing the potential of AI to enhance efficiency. Adrien shares their vision: "Our vision is to be fully decentralized and use AI to be highly efficient. We are also piloting AI system audits — ensuring the trustworthiness and integrity of AI systems."

This forward-thinking approach highlights the immense potential of AI and decentralization in shaping the future of startups. By embracing these technologies, companies like AuditOne can streamline processes, improve accuracy and deliver greater value to their customers. As AI adoption continues to grow — ensuring the trustworthiness and integrity of these systems becomes paramount. AuditOne's proactive move into AI system audits demonstrates their commitment to staying ahead of the curve and addressing the evolving needs of the industry.

Key Insights from Adrien

Adrien shares invaluable insights that every founder should consider on their entrepreneurial journey:

  • Be customer-centric: Focus on building a product that solves real problems for your target audience.
  • Get feedback early and often: Once you have an MVP, gather feedback from users or clients to iterate and improve continuously.
  • Find the right partners and team members: Seek complementary skills, chemistry and shared passion when building your founding team.
  • Leverage social media and conferences for exposure: For B2B startups — especially in web3 — social media and industry events are essential for showcasing expertise, connecting with potential clients and staying updated on trends.
  • Embrace AI and decentralization: These technologies have the potential to revolutionize processes, improve efficiency and deliver more value to customers.

soonami Venturethon: Empowering Startups

At soonami, we understand the challenges that early-stage founders face when turning their web3 or AI ideas into reality. That is why we created the soonami Venturethon — a 10-day startup launchpad designed to help entrepreneurs level up — regardless of their current stage.

The soonami Venturethon has been a resounding success, with previous editions attracting 340 participants and 50 projects from 39 countries worldwide. Through the program, startups have the opportunity to secure $125K in funding from the soonami ecosystem, providing a game-changing opportunity for aspiring founders to bring their ideas to life.

Currently, Cohort 3 of the soonami Venturethon is in the submission and awards phase. The journey kicked off on March 15th with the Kick Off and Hacking Week, which ran until March 24th. During this period, participants received guidance and support from experienced mentors and judges — helping them refine their ideas and build their projects.

The submission deadline was on March 24th, followed by an intensive judging period from March 25th to 27th. The selected startups will have the chance to showcase their ideas through test pitches on March 29th, leading up to the shortlist announcement on April 1st. The program will culminate with the highly anticipated Demo Day on April 2nd, where startups will present their solutions to a panel of investors and industry experts. Finally, on April 4th, the selected startups will be welcomed into Cohort 3 — marking the beginning of their accelerated entrepreneurial journey with soonami.

Together, we have the power to shape the future of web3 and AI — creating a more secure, efficient and trustworthy startup landscape for all.

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