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What is SparkLabs Coin (SPRK)?

SparkLabs Group, which has the greatest startup accelerator hub in Asia and operates global venture capital (VC) funds, has partnered with a digital finance advisory firm, Argon Group, to launch the first startup accelerator security token offering (STO).

SparkLab’s mission is to spur innovation in critical sectors that impact humanity’s future and make Earth sustainable for future generations. They hope to achieve this by allowing individual and institutional investors across the world to invest into this new fund offering that will equally invest into SparkLabs’ IoT & Smart City accelerator fund and SparkLabs Cultiv8 fund.

Their IoT & Smart City accelerator is the primary innovation partner for Songdo, a South Korea’s $35-billion smart city built from the ground up.

Their Cultiv8 accelerator is an exclusive partnership with the Government of New South Wales’ Department of Primary Industries for an agtech, food tech, and sustainability accelerator.

The local government has offered immense resources for startups to trial new innovations, such as access to over 13,000 hectares or 32,123 acres of experimental farmland and 25 world-class research stations in Australia.

The firm said it is aiming to “democratize” investment opportunities by essentially allowing anyone to buy into two of their accelerator program via the token, which will let them become LP-like (“Limited Partners”) investors.

Unlike traditional LPs, who wait for the fund’s lifecycle to end in order to see financial returns unless they can sneak a secondary share sale, SparkLabs plans to introduce liquidity by listing the token on security exchanges in the future, which will make it tradeable.

SPRK is a pure security token representing an investor’s rights and interests in the said two SparkLabs accelerator funds. Investors will invest into a special purpose vehicle (SPV) that will be equally distributed into these two funds: SparkLabs IoT Accelerator Fund, L.P. (Cayman entity) and Sparklabs Cultiv8 Trust (Australian entity).

For more information, check out their Investors Deck.


Team

Here is just a part of the large and experienced team that is operating the SparkLabs Coin project:

Find out more here.

The SparkLabs Group team itself is much, much larger. Here are some of its members:


Partners

Both accelerators have excellent partnerships:

Cultiv8 Partners:

SparkLabs IoT partners:


Community Around It and News

  • Twitter: 1,631 followers;
  • Facebook: 7,372 followers.

SparkLabs Global Ventures has a Medium blog, so be sure to check that out as well. Here are also some news articles on the token:


Token Sale

  • Token Sale start date: May 11, 2018
  • Token Sale end date: January 27, 2019
  • Hard Cap: $30,000,000 USD
  • Soft Cap: $6,000,000 USD
  • Token Symbol: SPRK
  • Token Type: Security

Competition

SparkLabs is considered to be one of the first established companies to officially adopt the strategy of offering its own security token, and as such it doesn’t have many competitors, at least not in the traditional sense.

That said, SparkLabs can be compared to other companies, including Oslo’s Katapult Accelerator, which focuses on so-called impact-tech – startups using exponential technologies to address big problems; Stockholm’s Sting accelerator program which accepts around 20 startups annually across verticals.

However, we’re more interested in the SPRK token itself, which is definitely an innovation, and these companies do not have their own STOs.

One of its on-chain competitors is 22x Fund, a tokenized opportunity to invest in a group of pre-vetted early-stage startups, giving investors an opportunity to get proceeds from the startups as they grow, exist or IPO, or trade the 22x Fund token.

Having said that, it seems that this company lags far behind SparkLabs on most fields.


Verdict

One of the first established companies to officially adopt the strategy of offering its own security token, SparkLabs is already seeing strong interest from crypto hedge funds and individuals looking to diversify their crypto assets.

That said, the company admitted that this is sort of a test to see how it is received by the wider market. It is important to acknowledge the team’s honesty in this.

The strongest link in this project is the SparkLabs’ team, whose past successes include Siri (sold to Apple) and DeepMind (sold to Google), and it claims a portfolio of over 160 startups from more than 60 countries.

Its accelerator program has graduated over 80 companies, 80% of which the firm said have gone on to raise funding at an average of $3.5 million.

With such a strong team and devotion, we’re certain the firm will give its best effort to make this STO successful.


Contacts

By Sead Fadilpasic

Rating

7.8

PLAN

9.0/10

TEAM

10.0/10

MARKETING

3.0/10

MARKET GROWTH

9.0/10

COMPETITORS

8.0/10

Pros

  • Very open and honest
  • Large and experienced team

Cons

  • US-based investors are not advised to participate since it is almost certain the violate the law
  • Not much information available