By Utkarsh Bhardwaj, PBA Alumni and Software Consultant at Parity Technologies
PBA-X graduate Utkarsh Bhardwaj shares how the academy’s Pitch & Mentor Program helped him secure a $20 k grant for SplitSafe, a Polkadot-powered bill-splitting app.
Gateway to Polkadot Ecosystem through PBA-X
I recently had the privilege of joining the Polkadot Blockchain Academy’s PBA-X course, a comprehensive and engaging program that delves into the intricacies of the Polkadot ecosystem, blockchain technology, and its vast potential.
Over the course, I gained a solid foundation in the fundamentals of blockchains and the Polkadot ecosystem, exploring modules on cryptography, economics, blockchain basics, Polkadot’s unique architecture, the Polkadot SDK, and governance.
What’s more, the course provided a glimpse into the exciting projects and initiatives that Polkadot is pioneering, such as Proof of Personhood and JAM, which are pushing the boundaries of blockchain innovation. The PBA-X course is a treasure trove of knowledge, offering a unique opportunity to learn from experts and like-minded individuals. If you’re new to the Polkadot ecosystem, I highly recommend checking out the course curriculum and learning more about this exciting program: https://pbax.polkadot.academy/. Also, I created a page for my learning and notes from the course here: https://utkarshbhardwaj007.github.io/PBA-X.html.
At the end of the course, I was ready to bootstrap my own blockchain product. How? PBA-X offers a unique Pitch and Mentor Program! More details in the following sections.
The Pitch and Mentor Program
One of the standout features of the Polkadot Blockchain Academy is its commitment to nurturing entrepreneurial spirit among its participants. Central to this mission is the PolkaBiz Pitch and Mentor Program, an initiative designed to inspire and support the development of innovative blockchain-based solutions to real-world challenges.
The program is open to all students enrolled in the course, inviting them to submit their blockchain business ideas through an initial application. This screening process is the first step in a journey that could transform a simple idea into a viable business.
A panel of seasoned entrepreneurs carefully reviews the applications and selects a few (30 in my case) promising participants to advance in the program. These selected individuals receive two one-hour mentorship sessions, where they refine their business plans and receive valuable feedback on their presentation pitches. From this group, the mentors choose the top 10 presentations to progress to the next stage.
These finalists benefit from additional mentorship meetings: one focused on enhancing their presentation skills and another with a technical lead from the Web3 Foundation to discuss the feasibility and potential improvements of their plans.
The program culminates in an exciting finale, where the finalists present their business plans or products to a distinguished jury comprising expert faculty with expertise in varying domains like investments, entrepreneurship and the Polkadot ecosystem. This 10 minute session (6 minutes pitch + 4 minutes for questions) is designed to identify suitable investment opportunities for grants and community support.
Ultimately, the top three winners are announced, with the first-place winner receiving a substantial grant to bring their innovative idea to life. This program not only empowers participants to think creatively and strategically but also provides them with the resources and guidance needed to make a tangible impact and a viable business in the blockchain space.
The 20k Grant Win
I am thrilled to share that my startup idea, SplitSafe, has taken the top spot in the PolkaBiz Pitch and Mentor Program. I not only secured a substantial grant but also the invaluable support from Web3 experts to propel my vision forward! The competition was fierce, with a diverse group of participants, including established businesses and founding panels, all vying for the top prize. However, with careful preparation and a clear pitch, SplitSafe managed to stand out.
The journey to this win was not just about the final pitch, but about the refinement and learning that took place throughout the program. With multiple pitches lined up on the day of the competition, the mentors’ advice was invaluable in helping me stay focused and composed.
They reminded me that the panel was not just looking for polished presentations, but for ideas that held real value, regardless of whether they were still in the conceptual phase or already up and running. This reassurance was a game-changer, and I believe it can be for anyone with a promising idea, no matter how experienced the competition may be.
So, what made SplitSafe’s pitch a success? Here are the key strategies that helped me excel:
Simplicity is Key: I focused on delivering a clear and straightforward message, cutting through the noise to ensure that the core value of SplitSafe shone through.
Identifying the Heart of the Matter: By homing in on the fundamental problems that SplitSafe addresses, I was able to demonstrate the significant value our product holds, and why it matters to the Web3 Foundation.
Telling a Compelling Story: I crafted a narrative around SplitSafe, drawing the audience in with a story that highlighted the journey, impact, and potential of our solution.
Visual Storytelling: My presentation consisted of just 6 slides (with some appendix slides), rich with graphics and visuals, while I spoke through most of the content. This approach kept the audience engaged, focused, and interested in the message.
Making Every Minute Count: With only six minutes to present, I made sure to include additional information as appendix slides, allowing the panel to dive deeper into the details if they wanted to.
Winning this grant is a testament to the power of a well-articulated idea, careful preparation, and a clear pitch. It has provided SplitSafe with the resources and momentum needed on this journey of innovation and impact. In the next sections, I will discuss what SplitSafe is and why building it on blockchain makes the difference.
Introducing SplitSafe: Revolutionizing Bill Splitting
SplitSafe is a decentralized bill-splitting application built on the Polkadot blockchain. It aims to simplify and streamline the process of splitting bills by leveraging in-app bill settlements across the world and consensus on each bill that gets added among other features and delivering all this for free by keeping a deposit and using Polkadot’s staking to make the app sustainable. By leveraging the security, transparency, and efficiency of blockchain technology, SplitSafe ensures fair and hassle-free bill settlements for free for the end user.
Key Features of SplitSafe
- Consensus in bills: Using the concepts of consensus, we reduce any chance of manual errors when uploading a bill to the app.
- Multi-Currency Support: SplitSafe supports multiple currencies for in-app settlements, making it convenient for users from different regions and backgrounds.
- Decentralized and Transparent: SplitSafe operates on a decentralized network, eliminating the need for intermediaries and ensuring transparency in all transactions.
The Polkadot Blockchain Academy: A Catalyst for Success
It also provided a platform to connect with like-minded individuals, mentors, and potential investors. The entrepreneurial program and grant opportunity further accelerated SplitSafe’s development.
Gratitude and Future Plans
PBA-X played a pivotal role in SplitSafe’s success. The course not only equipped me with the knowledge and skills necessary to build a blockchain-based application but also provided mentorship in my pitching skills which is really hard to find elsewhere. I’m incredibly grateful for the opportunity to participate in PBA-X and the PolkaBiz Pitch and Mentor Program. The course has been instrumental in my journey as a blockchain entrepreneur. I’m excited to continue building SplitSafe and leveraging the Polkadot ecosystem to revolutionize bill splitting.
Stay tuned for updates on SplitSafe’s progress and launch!