Nice and succinct post and I can get through all of it for once :)

The title 'project proposal' however I classify 'project' under 'business' and investors only look at 'business proposals'. As the first thing in making a proposal then, I want to add this as something a lot of these projects think they can just cook up the idea and sell to investors are wrong - They need to establish credibility first.

So, top of the list should be: Establish credibility with an investor by briefly explaining who is in your team, and what they have produced to date, and why you should be considered for an investment in this area.

Too many ICO indeed are just coming with ponzi-baked promises and no track record of delivered business and projects to speak of. If they haven't first proven they gave it all and put all into it, they should not be considered.