Session 9 – Harvesting the Future: From Hack to Startup
By: ETH JKT Date: December 3, 2025
Wrap up by learning how to take your DApp idea from a hackathon project to a venture-ready product. Explore pitching, and what it means to build in Ethereum's infinite garden.
🎯 Today's Mission
What separates good hackathon projects from great ones?
Using Memora (ETHGlobal Singapore 2024 Finalist) as our case study
❌ What Makes a BAD Hackathon Project
Common Pitfalls:
1. "Just Another DeFi Fork"
- No differentiation or innovation
- Copying existing solutions
- No real problem being solved
2. Ambitious Vision, Poor Execution
- Grand vision but can't demo the core value
- All promises, no proof
- "Trust us, it'll be amazing" - but nothing works
3. Tech Stack Resume Padding
- Using 15 sponsors' tech just for prizes
- Forced integrations that don't make sense
- Complexity without purpose
4. No Clear User
- "Everyone can use this!"
- Abstract problem nobody actually has
- Can't explain who benefits
✅ What Makes a GOOD Hackathon Project
The Winning Formula:
- Real Problem, Real Users
- Ambitious Vision + Smooth Delivery
- Clear Value Proposition
- Smart Tech Stack Choices
- Compelling Story
1️⃣ Real Problem, Real Users
Bad Example: "A marketplace for trading tokenized thoughts"
Good Example - Memora: "2.8B social media accounts belong to deceased users. Families can't access them. Digital memories are lost forever."
Why it works:
- ✅ Specific, measurable problem
- ✅ Everyone knows someone affected
- ✅ Emotional resonance
- ✅ Clear gap in existing solutions
Finding Your Problem:
- Have I experienced this pain personally?
- Can I name 10 people who need this?
- Does this cost people time/money/stress?
- Why hasn't this been solved yet?
2️⃣ Ambitious Vision + Smooth Delivery
The Reality: Big ideas are GREAT - but you need proof of concept
Bad Approach: "We're building everything!" → Nothing works end-to-end
Good Approach - Memora:
- Big Vision: Complete digital legacy platform
- What They Built: Core flow working smoothly
- ✅ Mint a time capsule NFT
- ✅ AI monitors for life events
- ✅ Auto-unlock works on testnet
- 📋 Full platform in roadmap
The Difference? They delivered the CORE VALUE PROP
🎯 The "Smooth Delivery" Formula
You CAN be ambitious if:
✅ Core user journey is bulletproof
- Practice demo 10 times
- Every click works perfectly
- No "imagine this part works"
✅ You articulate scope clearly
- "Today we've built X"
- "Next we'll add Y and Z"
- "Ultimate vision is..."
✅ Each piece is polished
- Better 3 features working perfectly
- Than 10 features half-broken
✅ Your pitch explains the journey
- "This is step 1 of our vision"
- "Here's how we validate the concept"
- "Here's the path forward"
3️⃣ Clear Value Proposition
The 1-Sentence Test:
❌ "We use blockchain and AI for digital stuff"
✅ "Memora lets you create blockchain time capsules that automatically unlock when life events happen"
Why It Works:
- Clear action (create time capsules)
- Clear trigger (life events)
- Clear benefit (automatic)
- Clear tech (blockchain)
Formula: [Platform] helps [user] do [action] through [unique method]
4️⃣ Smart Tech Stack Choices
Bad: "Let's use all 20 sponsor technologies!"
Good - Memora's Stack:
- Rootstock → Core blockchain infrastructure
- Gaia Net AI → Unique event monitoring differentiator
- Worldcoin → Solves real human verification need
- Dynamic → Makes it actually usable (UX)
Each tech serves a PURPOSE, not just sponsorship points
🔧 Choosing Your Stack
Questions for Each Technology:
-
Does this solve a core problem?
- Not: "Sponsor X is offering prizes"
- Yes: "We need oracles for off-chain data"
-
Can we implement it in 48 hours?
- Be realistic about complexity
- Test integrations beforehand
-
Can we demo it clearly?
- Judges need to SEE it working
- Invisible tech doesn't score points
-
Does it strengthen our story?
- ✅ "AI monitors life events automatically"
- ❌ "We integrated 12 APIs"
5️⃣ Compelling Story
Every Great Hack Has a Narrative Arc
Memora's Story:
- Hook: "What happens to your digital life after you die?"
- Problem: Current solutions are manual, insecure, incomplete
- Solution: Blockchain + AI automation
- Demo: Watch it work live
- Vision: Preserve digital legacies for generations
Judges remember stories, not feature lists
📖 Story Structure
Opening Hook (30 sec):
- Start with emotion or surprise
- Make it personal or universal
- "Did you know..." or "Imagine if..."
Problem Setup (1 min):
- Paint the pain clearly
- Use numbers or examples
- Show you understand the space
Your Solution (2 min):
- How it works simply
- Live demo is KEY
- Why THIS approach
The Vision (30 sec):
- Where this could go
- Impact at scale
- Leave them inspired
🏆 Hackathon Project Examples
Example 1: Memora
ETHGlobal Singapore 2024 - Finalist
The Problem: "2.8B social media accounts belong to deceased users. Families can't access them. Digital memories are lost forever."
The Solution: Blockchain time capsules that automatically unlock when life events happen, powered by AI monitoring.
Tech Stack:
| Technology | Purpose |
|---|---|
| Rootstock | Core blockchain infrastructure |
| Gaia Net AI | Event monitoring & detection |
| Worldcoin | Human verification |
| Dynamic | Wallet UX & onboarding |
What Made It Win:
✅ Real Problem - Universal, emotional, measurable (2.8B accounts)
✅ Clear Value Prop - One sentence explains everything
✅ Working Demo - Core flow functional end-to-end
✅ Smart Tech Choices - Each integration served a purpose
✅ Compelling Story - "What happens to your digital life when you die?"
Demo Flow:
- Create a time capsule NFT
- Set unlock conditions (life events)
- AI monitors for triggers
- Auto-unlock when conditions met
Why Judges Loved It:
- Instantly relatable problem
- Novel combination of AI + blockchain
- Smooth, polished presentation
- Clear vision beyond the hackathon
Link: ethglobal.com/showcase/memora-eth-77hf8
Example 2: MizuPass
ETH Tokyo 2025 - Sponsor Track Winner
The Problem: "Privacy vs compliance in event ticketing - no solution bridges Japanese regulations with user privacy for cross-border events."
The Solution: Universal privacy-first ticketing platform with ENS DID + ZKPassport verification + stealth payments + offline ZK proofs for seamless cross-border event access.
Tech Stack:
| Technology | Purpose |
|---|---|
| ENS | Decentralized identity (.mizupass.eth subdomains) |
| ZKPassport | Privacy-preserving international verification |
| Circom/Groth16 | Production ZK circuits for offline verification |
| EIP-5564 | Stealth addresses for unlinkable payments |
| JPYM Token | Custom token with airdrops for verified users |
What Made It Win:
✅ Real Problem - Privacy vs compliance gap in event ticketing
✅ Production Ready - 6.5ms witness generation, works on mobile
✅ Full Stack Demo - Live at mizupass.com with deployed contracts
✅ Cross-Border Solution - Japanese + international users supported
✅ Technical Depth - ZK circuits, stealth addresses, ENS integration
Demo Flow:
- Connect wallet at mizupass.com
- Verify identity (ZKPassport or Mizuhiki SBT)
- Claim free .mizupass.eth subdomain
- Receive JPYM airdrop (1,000-10,000 tokens)
- Purchase ticket with stealth payment
- Generate ZK proof QR code
- Scan for offline venue entry
Key Innovations:
- Universal DID: ENS subdomains work across Web3 ecosystem
- Privacy Payments: Stealth addresses make transactions unlinkable
- Offline Verification: ZK proofs work without internet (3,300 constraints, ~800 char QR)
- Regulatory Bridge: Japanese FSA compliant + ZKPassport for international users
Why Judges Loved It:
- Solves real regulatory challenge (Japan + international)
- Production-quality ZK implementation
- Complete working platform, not just a demo
- Clear target users (tourists, event organizers, venues)
Link: taikai.network/ethtokyo/hackathons/hackathon-2025/projects/cmfk2pkdc04hp137dk7inptvz
Live Demo: mizupass.com
⚠️ The Reality Check
Winning a Hackathon ≠ Having a Startup
What You Have:
- Working prototype
- Cool demo
- Judge validation
- Community buzz
What Investors Need:
- Real users with real problems
- Clear path to revenue
- Defensible advantage
- Team that can execute
The gap between these is where most projects die.
🏗️ Making Your Project Venture-Ready
4 Critical Steps:
- Validate Real Demand
- Define Your Business Model
- Build Your Moat
- Assemble the Right Team
1️⃣ Validate Real Demand
Hackathon judges liked it. Will users pay for it?
Bad Sign:
- "Everyone at the hackathon loved it!"
- Only crypto people understand it
- No one outside ETH community cares
Good Sign - Memora:
- Estate lawyers asking "when can I use this?"
- Non-crypto users saying "I need this"
- People sharing personal stories about lost accounts
- Inbound interest after demo
🔍 How to Validate
Week 1-2: Talk to 20+ Potential Users
Ask:
- "Have you experienced this problem?"
- "How do you solve it today?"
- "Would you pay for a solution?"
- "How much would you pay?"
Red Flags:
- "That's interesting..." (polite rejection)
- "Maybe someday I'd use it"
- They can't articulate the pain
Green Flags:
- "When can I sign up?"
- "Here's my credit card"
- They share the problem with others
- They have workarounds that suck
2️⃣ Define Your Business Model
How will you actually make money?
Hackathon Answer: "We'll figure that out later"
Investor Answer: "Here are 3 revenue streams we've validated"
💰 Example: Memora's Business Model
Revenue Stream 1: Freemium SaaS
- Free: 1 time capsule, basic features
- Pro: $9.99/month - unlimited capsules, advanced AI monitoring
- Target: 10,000 users → $100K MRR in 12 months
Revenue Stream 2: B2B Enterprise
- White-label for estate lawyers
- $499/month per practice
- Target: 50 practices → $25K MRR in 18 months
Revenue Stream 3: Transaction Fees
- 3% on NFT mints and transfers
- 5% on premium unlocks
Total Addressable Market: $4B+ digital estate planning by 2028
🎯 Building Your Business Model
Questions to Answer:
- Who pays? (End user? Business? Both?)
- Why do they pay? (What's the value?)
- How much? (Pricing validated by users)
- When? (Subscription? One-time? Transaction?)
- What's your CAC vs LTV? (Unit economics)
Formula: If acquiring a customer costs $50, they need to generate $150+ lifetime value
Test pricing BEFORE building more features
3️⃣ Build Your Moat
What stops someone from copying you in 2 weeks?
Weak Moats:
- "We're first" (not defensible)
- "Our tech is complex" (can be replicated)
- "We have a patent" (expensive, slow, often useless)
Strong Moats:
- Network effects
- Data advantages
- Brand/community
- Regulatory barriers
- Tech + distribution combo
🏰 Example: Memora's Moat Strategy
1. Data Network Effect
- More users = better AI event detection
- Training data gets better over time
- New competitors start from zero
2. Trust & Brand in Sensitive Space
- Digital death is deeply personal
- First-mover advantage in trust
- Hard to switch once set up
3. Integration Partnerships
- Estate lawyers referring clients
- Exclusive partnerships with platforms
4. Technical Complexity
- AI + Blockchain + Legal compliance
- Not just code, it's orchestration
Investors want to know: Why you? Why not the next team?
🛡️ Identifying Your Moat
Ask Yourself:
- What gets better as you grow?
- What would take a competitor 12+ months to match?
- What can't be easily copied?
- What unique access/data/relationships do you have?
If your only answer is "we're first," you don't have a moat yet.
4️⃣ Assemble the Right Team
Hackathon team ≠ Startup team
| Hackathon Team | Startup Team |
|---|---|
| Friends who can code fast | Complementary skills |
| Skills: shipping under pressure | Skills: building for years |
| Timeline: 48 hours | Timeline: 3-5+ years |
👥 What Investors Look For
Technical Co-founder
- Can build and scale the product
- Deep understanding of the tech stack
Business/Growth Co-founder
- Can sell and acquire users
- Understands the market
Domain Expert (Critical for some startups)
- Deep knowledge of the industry
- Network and credibility
🔧 Team Red Flags vs Green Flags
Red Flags:
- ❌ All technical, no one can sell
- ❌ Solo founder unwilling to share equity
- ❌ Team members half-committed
- ❌ Skill overlaps, no complementary strengths
Green Flags:
- ✅ Mix of technical + business
- ✅ Prior startup experience
- ✅ Full-time commitment
- ✅ Clear role divisions
- ✅ Shared vision, aligned incentives
Investors bet on TEAMS more than ideas
💡 From Prototype to Product
| Hackathon Prototype | Venture-Ready Product |
|---|---|
| Proves concept works | Handles edge cases |
| Happy path only | Production-grade infrastructure |
| Demo-grade code | Automated operations |
| Manual processes | Security audited & compliant |
🚀 The Venture-Ready Checklist
Product
- Real users using it regularly
- Core features production-ready
- Security/compliance addressed
- Scalable infrastructure
Business
- Clear business model validated
- First revenue/paying customers
- Unit economics make sense
- 12-month roadmap defined
Team
- Co-founders committed full-time
- Complementary skills covered
- Equity split agreed
- Advisor network building
Traction
- User growth trend (not just total)
- Retention metrics strong
- Early revenue or LOIs
- Community engagement
🔥 Common Mistakes to Avoid
-
Building Too Much Before Selling
- Get users from week 1, iterate based on real feedback
-
Focusing on Fundraising Too Early
- Build traction first, fundraise second
-
Ignoring Unit Economics
- If CAC > LTV, you have a problem no funding can fix
-
Underestimating Legal/Compliance
- Budget time and money for this, especially in regulated spaces
-
Team Conflict on Vision
- Align early, document equity and roles clearly
💎 Key Takeaways
| Priority | What It Means |
|---|---|
| Validation > Celebration | Hackathon win is just the start |
| Users > Judges | Real people paying matters most |
| Traction > Technology | Show growth, not just code |
| Team > Solo | Complementary co-founders are critical |
| Business Model > Cool Idea | Know how you'll make money |
The hardest work starts AFTER the hackathon
🤝 Thank You!
Keep Growing in the Garden 🌱
ETH JKT Community
Memora Case Study: ethglobal.com/showcase/memora-eth-77hf8
From seeds to DApps to startups - you've got this! 🚀