Why is it important?

Powering existing and starting Social Enterprises with blockchain and introducing new types of social innovations can supercharge progress.

What does success look like?

New Social Enterprises being brought to life and existing ones renewing their business models through Cardano adoption.

Key Metrics to measure

1. Number of Social entrepreneurs becoming proposers in Fund9
2. Cardano-based social innovations delivering meaningful change
3. Existing social businesses adopting Cardano
4. Lowered admin fees for Social Enterprises
5. Social enterprise project affecting people, community or environments positively

• It is recommended that the proposers include a "triple bottom line", measuring impact on People, Planet and Profits.

• There will need to be a distinction between projects reaching individual realities and those reaching communities;

• Comparisons will be drawn between the lives of people affected by the project before and after its inception:

• Reporting will be expected once projects complete proposed phases

• Reports should clearly illustrate relief provided to people, groups or environments

• Projects will be evaluated based on the depth of their reach (e.g. life-changing by fulfilling basic needs in areas that lack them entirely, or bringing positive social change to areas that already have good social services);

• Number of lives affected positively will be assessed over time:

• Now (assessing what is currently done by the enterprise)

• On the short term (assessing concrete and planned next steps)

• On the long term (assessing the scalability of the model)

  Challenge brief

How might we create maximum positive impact through blockchain-powered business?

The world is a better place than it used to be, thanks to technology. Allowing all the world's people to benefit from blockchain technology does not only make business sense. It makes human sense.

A social enterprise is a business with specific social or environmental objectives as its primary purpose of existence. Social enterprises seek to maximize both impact and profits, and the profits are largely channeled back to serve the purpose of the organization. Design thinking, truly understanding the target group's needs and ability to scale the solutions after a few iterations of "trial and error" are crucial for any social enterprise.

In this challenge, proposals can be submitted by existing social enterprises seeking to expand their business, new social enterprises seeking start-up funding, and social enterprises looking to make innovative changes to their business model through Cardano adoption.

Social enterprise scope will need to be clearly articulated and verifiable during the auditing process.

In your proposal, please include information about your social enterprise with a clear focus on its community outreach significance and scope, for example:

• A Social Enterprise seeking to begin business activities from the ground up;
• An existing business looking to innovate on Cardano;
• Focus of the Social Enterprise (e.g. Environmental, Social, Cultural)
• Scope of the Social Enterprise (e.g. Public, Community)

Proposals should include the long-term vision, strategy and roadmap for business development. Short-term deliverables attainable in the next 6-9 months should also be included. Applications can be accompanied by audiovisual material to assist the illustration of complex solutions.

Alignment with Fund9 strategic goals

All Challenge Setting proposals have to meet one or more of these attributes:

• Prepare a group of people willing and able to make contributions to the ecosystem.
• This challenge setting proposal taps into existing ESG trend (Environmental, Social and Governance) and can therefore bring in a plethora of existing initiatives from outside of Cardano. It also solidifies Cardano's status as a RealFi chain.
• Turn Cardano into an open source project.
• This challenge setting proposal encourages collaboration between new and existing social businesses, that are by nature more inclined to share good practices. In the business of creating positive impact we all win or lose together.
• Accelerate the growth and evolution of developer & app ecosystem.
• All social enterprises building on Cardano will offer meaningful opportunities for Cardano developers to create impactful solutions.

<u>Challenge Team Profiles</u>

Stef Montanari Single Stake Pool Operator, eResearch Analyst and published Research Scientist;

Tomi Astikainen was a social entrepreneurship pioneer as he introduced the concept to Finland back in 2009. He has been successfully coordinating work in several challenge teams;

Collaborators are welcome, please reach out to @rabbitholepools if you wish to have your relevant experience listed here.