Project Catalyst is an experiment in community innovation where ideas are brought to the table and turned into impactful projects that are meant to develop the Cardano ecosystem. Proposals as we know are usually submitted to Project Catalyst through Ideascale. A funding round for Project Catalyst takes place about every 12 weeks. During each round, new proposals are submitted.If you have any proposal, then you submit it in any of the challenges that are available for that funding round. After submission, it goes through the three different phases; innovation, governance and execution. Every single proposal has the potential to get funded but you need to have done some additional things to make your proposal stand out and get enough votes from the community to be able to win. Through every single phase, there are different strategies that you as a proposer for a project could take advantage of and set your proposal on the right path.
Here are ways to making sure that you position your proposal for winning
In-depth reviewing of campaigns
On the homepage of Ideascale, there is usually a list of active campaigns for the current funding round. These campaigns, which are sometimes referred to as challenges, highlight the different areas where the Cardano ecosystem needs to grow and develop. The campaigns also define the different categories where you can submit your proposal. These categories are decided by the community who voted in the previous round.You need careful analysis and critique when going through them to make sure that your proposal fits into that particular category. Do not just skim through the headline and short summary, make sure to understand the problem, goals and the metrics that are being addressed in that challenge. This will help you to place your proposal in the right challenge, which increases its chances of winning funding.
Submit your proposal early enough
Once you have drafted your proposal, submit it immediately to the right challenge. This is because once it is submitted early enough, you have a chance to get the community’s input in regards to your proposal in the comments section. If there are any changes or refining that is needed, you will get the time to do that. Do not wait for the last days to submit your proposal as it might not get any feedback or contribution from the community.
Have measurable metrics and milestones
When community advisors are assessing your proposal, one of the key things that they want to ensure your proposal has is auditability: what measurable goals will you achieve? They also need to see exactly how you intend to organize your finances, so include a clear and detailed budget. It’s also important to have a good plan: What are the timelines and milestones you intend to hit. To do this, make sure that your proposal is financially transparent and that you have a plan that is in line with the project that you seek to undertake.
Spread the word about your proposal
Marketing your idea is just as important. You want to make sure that ADA holders who will vote are aware of your idea so that they can vote for it. There are different channels you could use such as twitter and youtube. On Twitter, there is the “Cardano Over Coffee” show where guests present their projects every weekday. Here you get to make your project known to the community. On YouTube, you could make use of your own YouTube channel if you have one. If you don’t, start following other YouTubers who post good content related to Cardano. Engage in the comments, and perhaps see if they are interested in your project.
Every proposal is unique in their approach in growing the Cardano ecosystem, but putting the needed effort will make it even more better for you to clinch enough votes. If you put in that extra effort, you could be sure to get the funding!
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