Proof of Usefulness Report

First Ascent Ventures

Analysis completed on 2/19/2026

+547
Proof of Usefulness Score
Industry Mainstay

First Ascent Ventures is a verified, established Canadian Venture Capital firm with over $225M in assets under management (Fund I & II) and a portfolio including unicorns like DailyPay. However, the project submission itself is of extremely low quality, containing false claims (e.g., 'everyone' audience, 'most people have used my product') and inaccurate terminology ('marketcap: 2500000'). The Proof of Usefulness score reflects the high real-world utility and verified traction of the entity, significantly penalized by the poor response quality and lack of substantiated evidence in the submission data.

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Score Breakdown

Real World Utility+21.25
Audience Reach Impact+7.0
Technical Innovation+1.5
Evidence Of Traction+18.0
Market Timing Relevance+9.0
Functional Completeness+0.25
Subtotal+57
Usefulness Multiplierx0.96
Final Score+547

Project Details

Project URL
firstascentventures.com
Description
First Ascent Ventures was founded in 2015 and invests in emerging technology companies that are building the next generation of disruptive, enterprise B2B software that leverages the cloud, artificial intelligence (AI), machine learning, big data, cloud computing, 5G, mobility, IOT with a focus on data privacy and security. First Ascent Ventures is looking for outstanding, committed entrepreneurs and management teams who seek not just financial backing, but the experience and expertise of successful financial and operating executives who can create a catalyst for growth and ultimately a successful exit for all stake holders.

Algorithm Insights

Market Position
Strong market validation with clear user adoption patterns
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline