How InnovaCoin Works

Projects go through a three-stage selection process:

1. Initial screening by our team of experts who evaluate technical feasibility, market potential, and alignment with platform values.
2. Community voting period where token holders can allocate votes based on their holdings. Projects need to reach a minimum threshold of votes to advance.
3. Final review by our innovation board which confirms funding allocations and establishes development milestones.

This multi-layered approach ensures only the most promising projects with community support receive funding.

The voting process is designed to be fair and transparent:

• Each InnovaCoin token represents one vote.
• Token holders can distribute their votes across multiple projects or allocate all to a single project they strongly believe in.
• Voting periods last for 14 days to give all community members time to participate.
• A minimum of 10% of all tokens must participate for a vote to be valid.
• Projects need to achieve at least 65% approval to receive funding.
• Votes are recorded on the blockchain for complete transparency.

This system ensures that funding decisions are made collectively by the community rather than by a small group of individuals.

We understand that innovation involves risk, and not all projects will succeed. Here's how we handle project failures:

• Funding is released in milestone-based installments, limiting exposure if a project encounters problems.
• Projects that miss milestones undergo a review process to determine if additional support could help overcome challenges.
• If a project is determined to be non-viable, remaining funds are returned to the innovation pool.
• All intellectual property developed up to that point is made available to the community, potentially allowing other teams to build upon the work.
• A detailed post-mortem analysis is published to help the community learn from the experience.

This approach minimizes financial risk while maximizing the potential for learning and future innovation, even from unsuccessful projects.

Our reward system is designed to fairly compensate all stakeholders:

• When a funded project generates revenue, 15% is allocated to the InnovaCoin ecosystem.
• Of this 15%, two-thirds (10% of total revenue) is distributed to all token holders proportionally based on their holdings.
• The remaining one-third (5% of total revenue) is distributed specifically to users who voted for that particular project, rewarding those who identified promising innovations.
• Rewards are distributed quarterly and automatically sent to wallet addresses.
• The distribution formula and all transactions are recorded on the blockchain for complete transparency.

This dual reward system incentivizes both token holding and active participation in the voting process, creating a more engaged community.

We provide comprehensive support to help inventors succeed:

• Legal Support: Patent application assistance, intellectual property protection, and regulatory compliance guidance.
• Technical Resources: Access to engineering and design expertise, testing facilities, and manufacturing connections.
• Business Development: Market validation, business model refinement, pricing strategy, and go-to-market planning.
• Networking: Introductions to industry partners, potential customers, and additional investors for scaling.
• Marketing: Assistance with branding, product positioning, and launch strategies.

Our goal is to provide inventors with all the tools and resources they need to transform their ideas into successful commercial products.

The submission process is designed to be thorough yet accessible:

1. Create an account on the InnovaCoin platform and verify your identity.
2. Complete the initial submission form with basic information about your invention.
3. If your initial submission passes preliminary review, you'll be invited to submit a detailed proposal including:
• Comprehensive problem statement and solution description
• Market analysis and potential impact
• Technical specifications and preliminary designs
• Intellectual property status
• Development roadmap and funding requirements
• Team background and qualifications
4. Our team will review your proposal and may request additional information or clarification.
5. If approved, your project will be listed on the platform for community voting.

We provide guidance throughout the submission process to help inventors present their ideas in the best possible light.