Why is it important?
Small businesses often require a helping hand in terms of capital or technical or business support to flourish.
What does success look like?
A good number of small businesses spanning across market sectors develop solutions by using Cardano blockchain.
Key Metrics to measure
Number of small businesses solutions developed and deployed.
Number of market sectors represented by funded buisinesses.
Improved sentiment towards Cardano which assessed indirectly by means of marketing done by Businesses which start using Cardano blockchain.
Challenge brief
Small business often have difficulty raising capital even if they have an innovative idea to pursue.
Adopting newer technologies like blockchain requires higher investment and potential higher risk taking capacity compared to traditional IT solutions .
Adoption among business communtiy and at a democratic level across classes of entreprised will benefit the Cardano ecosytem as such. In this regard, small businesses are likely to be the last adopters and so this challenge intends to encourate small businesses to come forward with their ideas.
Any small business can propose for a solution that they want to build with Cardano. They can use the funds to either build it themselves or delegate the development to another team or their choice.
Some specific guidelines, with a view to support as many small businesses is recommended in this challenge:
- The budget for each proposal should not exceed $50000
- They should be usable by end users on delivery
- There should be clear elucidation about how it directly benefits business operations.
Guiding questions:
How do we promote capital lacking but innovative teams?
How can we ensure that opportunities for commerical adoption of Cardano is democratic?
Impact of solution to the revenue, customer outreach or operations of businesses.
Why is it important?
The ethos of Cardano call for incentives for adoption and support among small enterprises.