Rules

This manual is your comprehensive guide to navigate the intricate web of challenges, deadlines, and creative bursts that define hackathons.

Registration

soonami Venturethon Cohort 3 starts on March 11, 2024. Team building activities will take place between March 11 - March 14 and the official kickoff will be on March 15. Register before March 15 to ensure your participation.

Schedule

Soft Kickoff: March 11, 2024
Team Building & Pitching Workshops: March 11 - March 14
Official Kickoff : March 15
Hacking Window: March 15 - March 24
Submission: 6 pm CET on March 24
Shortlisting of projects: March 25 - March 27
Demo Day and Prizes : 2 April
Cohort 3 mentoring till Investment Committee: 8 April - 22 May
Check our schedule page for more details

Team Building

Use the Foundance platform

Simply create a profile and browse through the community members there. If you have a project idea already, you can upload it as well, you will get more exposure to the potential teammates. You can access the platform here.

Team Size

Each team needs to have at least 2 members one of whom needs to be a developer. Maximum team size is upto the team leader but the ideal size is between 2 to 6 members.

Join the co-founder meet-ups before the event

Soonami is organizing a series of meet-ups for co-founders. It’s a great opportunity to meet individuals from various areas, such as business, tech, design, startup mentoring, and investment.
Check out our schedule page for all events.

Join the Discord channel

We have an open discord channel for the participants, there is also a section where you can meet other participants looking for a team. You can join our Discord here.
Join the channel, say hi and look out for your team! Also please remember that you can always contact our team on Discord, for anything that you may need.

Original Work

Participants must create original work during the hackathon. Plagiarism or unauthorized use of others' work is strictly prohibited. Participants should disclose any open-source or third-party components used in their projects.

Intellectual Property

Participants retain the intellectual property rights to their projects. The organizers may request participants to provide a summary or demonstration of their project after the hackathon.

Timeframe

The hackathon will have a specified timeframe for project development. Participants must submit their projects within the given deadline. Late submissions may not be accepted.

Equipment and Resources

Participants are responsible for providing their own equipment, including laptops, software, and any other necessary tools for development. The organizers may provide access to specific resources or tools, as communicated prior to or during the hackathon.

Submission Criteria

Deadline

To qualify for the bounty, all projects must submit qualification requirements within the deadline on March, 6PM CET.

1. Name of the project

A unique and catchy name for your project. This can be AI-generated on Foundance.

2. Logo

A visually appealing logo that represents your project. This can be AI-generated on Foundance.

3. Description (150 words)

A concise and precise description of your project, outlining its purpose, features, and benefits.

4. GitHub Link Basic Documentation

A link to your project's GitHub repository with essential documentation, including installation instructions in the README file.

5. Pitch Deck + Pitching Video (3 minutes)

A pitch deck presentation that overviews your project, its goals, USP, a clear roadmap and how it addresses the hackathon track you have chosen.A 3-minute video presentation where you or your team members pitch the project, explaining its key aspects.

6. URL Link to Website (with Live Demo if possible)

A link to a website showcasing your project. Ideally, the website should have a working Minimum Viable Product (MVP) that judges can interact with.
Optionally, the website can be password-protected, and the password should be sent via email to hackathon@soonami.io

7. Live Demo Video (up to 2 minutes, optional)

An optional video demonstrating how the MVP works, highlighting its key functionalities.

8. Team Members/Project Roles

At least two co-founders are assigned as team members with specified project roles.
Profiles of team members on Foundance, a platform for showcasing team members and their roles.

9. Discord Handle of At Least One Co-founder

The Discord handle/contact information of at least one co-founder for communication during the hackathon.

10. 3 Minutes survey of your experience

Please note that fulfilling criterion #6 is ideal, but if it's not possible, #7 is compulsory. However, not
delivering #6 might reduce your overall score, depending on the jury's assessment of your project.

Compliance with Laws and Regulations

Participants must comply with all applicable laws and regulations during the hackathon. Projects or activities that violate any laws or regulations are not permitted.

Communication and Updates

Participants must regularly check communications from the organizers for updates, announcements, and any changes to the hackathon schedule or rules. Discord is the main communication platform. We will email you with the most important information, if you already have registered here.

Event Support

The Foundance team will be available to help for any kind of issues , to ensure a light and pleased experience. They will be available every day of the event from 8:00 till 16:00 CET.

Mentorship and Guidance

soonami ecosystem is there to support you through this journey. You are able to reach to mentors as many time as you like during the event. You will find a dedicated channel on the Foundance discord where to get in touch with mentors and schedule meetings.

Pitching and Presentation

A professional pitching is required form the selected project during the announcement day. The projects’ names will be announced in the morning of the same day, just before the event, as we expect anyone to be ready to sell they idea as an unicorn!

Ethics and Conduct

You will be disqualified in case of misleading and non polite behaviours. We love transparency, collaboration and respect above professionality and great results. We aim for the best team to work with, thus any kind of bad reputation may implicate your event participation.

Post Event Activity

If you have been selected as a pitching team you have the opportunity to run for the first seed venturethon funding in the next 4 weeks post hackathon. Further mentorship sessions, advisory onboarding and on-chain agreement will be part of those activities.

Networking and Community

We are building a borderless environment to connect people all around the world. Use this opportunity to compare your vision with others from other countries and expand your opportunities. There is so much value hidden behind that, let’s discover it!.

Resources and Tools

During the event you will be allowed to use external existing tools. We ask you a detailed list of the in use one, with real references of the project development.

Bounty payout

Check our Prize Pool page for prizes in each category. We payout the bounty amounts within 4 weeks of announcing the winners. You just have to share the required account details when our team gets in touch with you.

Jury

We have three leaders from soonami on the jury. For more details check out our jury page.

FAQs

We know you might have a lot of questions about submissions, IPs, etc. Check out our FAQs section. Scroll to the bottom of this page.

Mentors

We have an amazing set of mentors who are leaders in web3 and AI. To know more about them check our mentors page. You can interact with them on our Discord. They're there to guide you through the hackathon.

FAQ

All your questions answered

What is the soonami venturethon?

The soonami venturethon is a 10-day startup launchpad where teams from across the globe work on building their ideas in the web3, AI and tech space. Participants get support from soonami for forming teams and technical guidance. There are a set of industry experts who act as mentors to participants.

Individuals can devote as much time as their project requires per day. This will also depend on the skills and size of your team. Each team consists of developers, marketers, planners, entrepreneurs, or any other type of contributor that you wish. There are no 1-person teams. Entry is free, and registration is open to all.

The aim is to create real-world applications that appeal to customers. There is also an opportunity for winning projects to be funded. The soonami ecosystem offers funding of $125k. This is in addition to the upto $24k prize pool for the Venturethon. More details can be found on our ecosystem page

Who can participate?

The Venturethon is open to all. You can be a developer, entrepreneur, AI or Web3 enthusiast, student, marketer, designer - absolutely anybody who can contribute either technically or from a business perspective. However, this is aimed at serious individuals who want to contribute to something that could soon become a real-world project. Whether you have an idea and are looking for a team or are keen to work and are looking for teammates who have an idea, the venturethon is for you. Each team will need atleast one developer to build the tech side of the product.

What are the dates?

March 11 -April 2. Check our schedule for more details.

What are the judging criteria?

1. Innovation
The foremost criterion is innovation. Participants are encouraged to create solutions that are innovative and unique, setting them apart from existing market solutions. This means offering a novel approach or technology that hasn't been frequently attempted. Additionally, we'll assess how AI or web3 or ‘AI &Web3’ integration is leveraged to solve problems.

2. Team
The team should consist of at least two co-founders and could be up to 5 members with diverse backgrounds. We will be looking at the diversity of skill sets within the team, including technical, business, and domain expertise that fit the project.

3. Technical Competence and Quality
The solution should demonstrate technical competence and quality. Please check for adequate documentation, especially on GitHub, to ensure third parties can understand and follow the code.

4. Market Potential and Business Model
The solution should have a well-defined target audience and potential for growth. The business model should be well-defined, showcasing the solution's value proposition, monetization strategies, and scalability.

Participants are required to create a fresh repository, use open-source code as needed, develop a project with broad applicability (scalability), and focus on crafting a completely new feature or functionality they haven't worked on previously for their hackathon project. These guidelines aim to encourage innovation and collaboration during the event.

Do I need to register?

Yes! Register on our platform Foundance before March 15.

Is participation limited to new projects?

Established teams can compete under our second category ‘On The Fast Track’. The prize for this category is $4k. You will get to showcase your advanced projects, gain valuable feedback, and connect with industry experts.

Other tracks are: New Ventures, Entrepreneur in Residence, Tryst 2024 IIT Delhi, Web3 for Good, Excellence Awards (Additional Prizes)

How do I join a team or find a team?

Join our discord, introduce yourself, and state your requirements. Our team will connect you to the right people. Every Hackathon we also has team-building events where we can help you find your team.

What information do I need to submit for my project at the end of the Venturethon?

‍
1. Name of the project: A unique and catchy name for your project. This can be AI-generated on Foundance.

2. Logo: A visually appealing logo that represents your project. This can be AI-generated on Foundance.

3. Description (150 words): A concise and precise description of your project, outlining its purpose, features, and benefits.

4. GitHub Link Basic Documentation: A link to your project's GitHub repository with essential documentation, including installation instructions in the README file.

5. Pitch Deck + Pitching Video (3 minutes): A pitch deck presentation that overviews your project, its goals, USP, a clear roadmap and how it addresses the hackathon track you have chosen.A 3-minute video presentation where you or your team members pitch the project, explaining its key aspects.

6. URL Link to Website (with Live Demo if possible):A link to a website showcasing your project. Ideally, the website should have a working Minimum Viable Product (MVP) that judges can interact with.Optionally, the website can be password-protected, and the password should be sent via email to hackathon@soonami.io

7. Live Demo Video (up to 2 minutes, optional):An optional video demonstrating how the MVP works, highlighting its key functionalities.

8. Team Members/Project Roles: Profiles of ALL team members on Foundance need to be complete with email, discord, LinkedIn links and photographs. All members need to have a defined 'role' in the project. Any missing details of any team members will lead to disqualification.

9.Discord Handle of At Least One Co-founder:The Discord handle/contact information of at least one co-founder for communication during the hackathon.

10. 3 minutes survey of your experience

Please note that fulfilling criterion #6 is ideal, but if it's not possible, #7 is compulsory. However, not delivering #6 might reduce your overall score, depending on the jury's assessment of your project.

Once your submission is complete, announce it in our discord channel (general chat) with the project name.
Also, describe your hackathon experience with one line.
‍Example:
✅ SUBMISSION COMPLETE
🏆 PROJECT NAME :
💫 My hackathon experience was ___

What information does the pitch deck need to have?

-A brief introduction of yourself and your company’s vision in the Web3, AI, or tech space
-The problem you’re tackling
-Your solution that addresses the problem
-The size of the market, its potential for growth, and any emerging trends in the sector
-The role of your token, if you have one, and how it adds value to your ecosystem
-If it’s an existing project - any milestones reached, early adopters, on-chain metrics, partnerships, or other indicators of progress
-Your key competitors and your differentiators, especially in terms of technology, security, and community
-Your financial outlook and funding projections
-Your ask from investors or the community (e.g., funding amount, partnerships, staking, or other forms of support).

Are there any events I can attend that’ll help me understand how to crack the hackathon?

Kick-off events and workshops usually start three weeks before the hackathon. We organize meetings where our team takes you through what to expect. We also organize workshops and masterclasses on developer tools and efficient ways to build products. Check our schedule page.

Are all participants and projects eligible for the startup investment?

Yes, all projects are eligible for investment. But it is usually only the winning projects that are considered for the soonami accelerator at the end of the hackathon. Selected teams will be invited to pitch to our investment committee post-hackathon and will be eligible for $125 K funding. Please refer to the ecosystem page for more details.

What are the investment terms?

We invest $125k at 9% OR $25k for 3%, 100k for 6% in two tranches. If an external investor wants to invest into a soonami venture, soonami gets an option to invest 3% alongside at most favored nation terms.

Investment Criteria

Innovative Technology: The startup's technology effectively addresses a tangible user or customer problem in the realms of Web3 and AI.

Team: A team comprises a minimum of two co-founders with complementary skills.

Market Potential: The market potential for the startup's solution is substantial, presenting an opportunity to build several unicorns in the space.

Competitive Edge: The startup possesses a competitive edge or unique selling proposition in its technology.

Adaptability: The startup demonstrates the ability to adapt to changes and advancements in the rapidly evolving Web3 and AI landscape.

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