There are a number of things to check but some particularly key ones are:

- Does the project have merit? i.e. will it have value in the long run?

- Is it just an idea or is there a product? If there's just an idea you're giving money to a team that you hope will deliver.

- What is the team like? Are they active in the space and are they who they say they are?

- Does it promise a return on your investment? If it does it's likely to be a scam.