Web3 Startup Success: Expert Advice from IE Professor Alexandr Chevtaev
Practical insights from the IE Impact Xcelerator Global Gateway Program in Paris on navigating blockchain, crypto markets, and token-based business models.
As part of the Global Gateway Program’s XRPL Commons Immersion in Paris, students from IE University’s School of Science and Technology took part in a week-long experience focused on blockchain infrastructure, digital assets, and decentralized finance. The initiative, developed under IE School of Sci-Tech’s Impact Xcelerator, connects students with global industry leaders and equips them with the tools to apply blockchain technology in high-impact domains. Among the featured speakers was Sci-Tech Professor and tech entrepreneur Alexandr Chevtaev, who offered practical insights into building successful Web3 startups:
"Always formulate your market problem in terms of financial value," advises Chevtaev, who has spent seven years developing Web3 companies and investing in crypto startups. "Whether you're saving companies money, creating new value streams, or opening entirely new markets, expressing your solution's impact in concrete financial terms is crucial for attracting investment and clarifying your value proposition."
While your vision may be revolutionary, Chevtaev recommends a laser-focused approach with your MVP.
"Be very specific on what you want to do first within your MVP, then scale from there," he explains. "Define precisely who your users are and ensure your solution delivers enough value to motivate them to get on board."
Alexandr Chevtaev, Sci-Tech Professor
For token-native business models, understanding both aspects of the market is essential. Your token needs genuine utility within your ecosystem to establish credibility, but markets remain highly speculative. "Even for projects with strong utility, less than 1% of trading volume comes from actual utility use," Chevtaev reveals, highlighting the current reality of crypto markets.
A common mistake in a Web3 startup, says Chevtaev, is having deep expertise in business but lacking crypto market understanding—or vice versa. Successful Web3 ventures need both traditional business acumen and crypto-specific knowledge to thrive in this complex environment.
If launching a token, Chevtaev recommends stress testing your tokenomics with multiple scenarios, controlling your own liquidity initially rather than relying on liquidity provided by market makers, and carefully planning your exchange listing strategy. "The crypto community is very important because you may have an amazing product, but as crypto traders say: "price drives the narrative"," Chevtaev explains. Effective crypto community engagement through social platforms, conferences, and consistent communication can create the market momentum needed for success.
Through initiatives like the IEX Global Gateway Program with XRPL, IE University equips students with the knowledge to innovate and integrate cutting-edge academic research with practical blockchain experience, positioning them at the forefront of Web3 entrepreneurship.
Want to explore how blockchain technology is reshaping business? Learn about IE's programs in technological innovation and Web3 entrepreneurship.
See more about IE Sci-Tech students’ experiences at XRPL Commons here.