In my opinion, IEO is not for crypto startups that are seeking funds to kick start their project but for projects that have raised capital already or have rich advisor and team to fund the project. Fund-raising through IEO can be very challenging for startups that need money to kickstart their project, because they will need large amount of money to conduct their tokensale on good exchanges, as this exchanges only list projects that meet their legal requirements and can also afford to pay their listing fees. So the best means to raise money or capital for new projects is to present their proposal to Venture capital firms or Angel investors.
If they don't have the money then they can ask their VC investors to help them afford the listing on IEOs. IEOs are not just very attractive on investing but also very successful. Any startup companies will have many advantages doing it like the exposure and the name of that huge exchange that makes them popular. Though, I would advise them to choose either Binance, Okex, Huobi or Kucoin to lauch their IEOs.