Beyond Catalyst Funding | Investor Directory for Funded Proposers

not approved

Beyond Catalyst Funding | Investor Directory for Funded Proposers

₳75,000.00 _Requested

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Community Review Results (1 reviewers)

Impact / Alignment

Feasibility

Value for money

ソリューション

An open directory that allows funded proposers to access funding opportunities and connect with investors.

Problem:

Funded proposals do not have a clear means of raising additional funds in order to grow their operations, outside of Catalyst.

Yes Votes:

₳ 10,431,406

No Votes:

₳ 53,499,187

Votes Cast:

183

チーム

Josh F

[IMPACT] Please describe your proposed solution.

Main Deliverable

Create a directory for Catalyst projects seeking additional funding. This directory aims to provide actionable information about each potential funder, their funding criteria, sector preferences, and how to initiate contact effectively.

Project Brief:

As things currently stand, the primary challenge lies in the fact that organizations created with Catalyst's support often struggle with over-dependence on its funds.

This creates instability and uncertainty, as these projects are heavily reliant on public perception, market conditions, and voting outcomes, which may not always be in their favor.

In the most unfortunate cases, you have a project that was able to complete it's initial stage of development, but never able to fully launch their product due to subsequent missed rounds of funding.

To address this, we propose a shift from the cyclic dependency on Catalyst funds to a more sustainable and reliable model.

This view has been supported by Tamara Hansen, President of IOG in a recent townhall appearance.

<https://youtu.be/y27OeXBZ5fQ>Unique Approach

Our unique approach involves providing an 'off-boarding' funding option. This would allow organizations to enjoy a certain level of stability and plan better for the medium to long term.

To ensure this, we aim to engage with existing Catalyst projects, specifically those who have successfully completed their projects but require further funding for extended operations or growth.

Our focus would be on organizations like Wada and its associates, who have felt the impact of decreased Catalyst funds availability due to the longer timelines and categorization changes.

[IMPACT] How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?

Challenge Impact

Our proposed solution directly addresses the challenge of continued funding for Catalyst projects, ensuring that they are not left in a state of flux or uncertainty once the initial Catalyst funding period ends.

We aim to eliminate the cyclical dependence on Catalyst funds by providing a reliable and substantial off-boarding funding solution.

Our solution specifically targets those Catalyst projects that have successfully completed their terms but need more resources to continue or grow.

Cardano Impact

This project holds significant potential for the Cardano ecosystem as a whole.

Beyond supporting the project team with funds, it brings several key benefits to the ecosystem, primarily by ensuring the survival and ongoing growth of innovative projects within the Cardano community.

By bridging the gap between Catalyst projects and potential funders, we expect to bring more stability to the ecosystem, attracting and retaining talent and ideas that might otherwise have been lost.

Quantifying Impact

Exact figures depend on various factors, but we expect to support a significant number of projects that currently struggle with post-Catalyst funding, assuming a successful matching rate of projects to investors.

Over time, we anticipate this will lead to the growth and diversification of the Cardano ecosystem, making it stronger, more resilient, and more attractive for early-stage organizations.

[IMPACT] How do you intend to measure the success of your project?

Success Measurement:

The primary quantitative measure would be the number of Catalyst projects successfully acquiring additional funding through our directory.

A higher match rate would naturally signify the effectiveness of our directory in addressing the funding challenges faced by these organizations.

Additionally, we can monitor the sustained operation and growth of these funded projects as a further success indicator.

Key Metrics:

Number of Catalyst projects registered with the directory.
Number of Catalyst projects successfully acquiring additional funding.
Funding amounts raised in total.
Match rate (% of projects raising additional funding after application submission).
Approval rating of directory from project participants.

Additional Notes:

This proposal is intended to be for the research and development stage of the directory, rather than the full launch, so expect that some of the key metrics may be outside of the scope of the proposal itself, but be relevant to the project's progression through future Catalyst rounds and it's own development stages.

Proposal Output Timeline:

Outputs and results will be spread over a reasonable timeline using the milestones approach as outlined by Catalyst. Reports on progress will be shared publicly with the Catalyst community through well-known channels.

Output Visibility:

The primary output, the directory of potential funders and granters, will be accessible to all completed Catalyst projects seeking additional funding. We will utilize various communication channels to announce its availability, including Wada's official channels, our project's website, social media, and relevant forums.

The results from this project will also inform our next development phase, where we aim to expand the directory into a more comprehensive platform. This platform will allow projects to communicate directly with potential investors and apply for funding.

[CAPABILITY/ FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability?

As an experienced team that has previously navigated Catalyst proposals, secured outside funding, and implemented successful projects, we're well-positioned to deliver on this proposal with high levels of trust and accountability.

Fund management will be coordinated by using a well-known treasury management operator within the Cardano ecosystem.

Following the milestone-based approach for fund allocation, as outlined by Catalyst, this ensures funds are disbursed based on concrete deliverables and outcomes.

[CAPABILITY/ FEASIBILITY] What are the main goals for the project and how will you validate if your approach is feasible?

Project Goals:

Development of a comprehensive directory of potential funders, granters, and investors tailored to the needs of Catalyst projects.
Facilitation of successful funding matches between Catalyst projects and potential funders listed in our directory.
The evolution of the directory into a more comprehensive platform that enables direct communication and application processes between projects and investors.

Validation:

Primary validation approach: successful additional funding acquisition by Catalyst projects using our directory.

We will measure the number of projects that secure funding through our directory, and gauge the overall usefulness and effectiveness of the directory based on feedback from both the projects and the funders.

Technical implementation:

Since this proposal is not primarily technical, our implementation process will focus on research and community engagement. We will source potential funders and investors, engage them, and compile the directory.

The technical component will be relevant at a later stage of the project.

[CAPABILITY/ FEASIBILITY] Please provide a detailed breakdown of your project’s milestones and each of the main tasks or activities to reach the milestone plus the expected timeline for the delivery.

Milestone 1:

Task: Market research and team formation.
Success Criteria: Completion of market research, formation of the team and outline of project dates.
Projected Cost: 10% of total budget.

Milestone 2:

Task: Identify potential funders, investors, and granters suitable for Catalyst projects; engage with them to understand their funding criteria; compile initial directory data.
Success Criteria: Identification of and contact initiated with potential investors and grant providers.
Projected Cost: 30% of total budget.

Milestone 3:

Task: Input investor data into a directory
Success Criteria: A list of potential funders with detailed information on funding criteria.
Projected Cost: 5% of total budget.

Milestone 4:

Task: Technical specification and design details
Success Criteria: Directory specification completed and ready to be built.
Projected Cost: 10% of total budget.

Milestone 5:

Task: Development of online directory, and input of investor data gathered.
Success Criteria: Successful development and testing of the directory, launched in a beta version.
Projected Cost: 40% of total budget.

Milestone 6:

Task: Preparation for directory availability to select number of funded catalyst proposals for feedback and testing purposes.
Success Criteria: Directory made available to a select number of catalyst proposers, and feedback can been gathered via survey.
Projected Cost: 5% of total budget.

Project Management:

Projects are typically managed through a series of video meetings at regular intervals and by utilizing the Google suite of products for documentation, data gathering, reporting and analysis. We typically lay out a detailed plan for each project, detailing the sequential steps in order to track progress, set deadlines, and ensure timely completion of tasks.

Additional notes:

Each milestone is expected to take 1-2 months to complete.

Milestones are focused on the initial research and development stage of the proposal, with more expansive and comprehensive elements to be addressed in later funding rounds.

[CAPABILITY/ FEASIBILITY] Please describe the deliverables, outputs and intended outcomes of each milestone.

Milestone 1:

Deliverable: Comprehensive market research data, a team with defined roles, and a detailed project timeline.
Outputs: Documentation of market research findings, team structure, and project timeline.
Intended Outcomes: Establishment of a strong project foundation based on market understanding, and a well-structured team.

Milestone 2:

Deliverable: Potential funding sources suitable for Catalyst projects, established initial contact, and understanding of their funding criteria.
Outputs: Details of potential investors, grant providers, and funding criteria.
Intended Outcomes: Guidance on which investors and grant-makers to pursue for further engagements.

Milestone 3:

Deliverable: Data entries of potential funders, investors, and granters in an organized format.
Outputs: Data gathered of potential funding sources.
Intended Outcomes: Availability of data in a suitable format to input into the directory.

Milestone 4:

Deliverable: Complete technical specifications and design details for the online directory.
Outputs: Directory specifications and design documentation.
Intended Outcomes: A ready-to-build technical blueprint for the online directory.

Milestone 5:

Deliverable: A functional online directory populated with the compiled investor data.
Outputs: A user-ready, populated online directory launched in a beta version.
Intended Outcomes: As above.

Milestone 6:

Deliverable: Directory made available to a select group of Catalyst proposals for testing and feedback.
Outputs: A ready-to-test online directory for a selected group of Catalyst proposals.
Intended Outcomes: Collection of valuable user feedback to improve the directory's functionality and effectiveness.

Additional notes:

Milestones 1-3 will be relevant for this proposal, as we are focusing on the research stage, with milestones 4-6 covering the development stage in a subsequent funding round.

[RESOURCES & VALUE FOR MONEY] Please provide a detailed budget breakdown of the proposed work and resources.

Proposal Budget Breakdown:

Market Research and Documentation: 6000₳
Technical Specification and Design: 8000₳
Technical Development: 20000₳
Platform Costs and Third-party Services: 10000₳
Program Management and Coordination: 30000₳
Investor Outreach and Data Gathering: 10000₳
Directory Testing and Feedback: 5000₳
Administration and Operational Costs: 20000₳
Marketing and Community engagement: 8000₳
Contingency: 15000₳
Total: 132000₳
Amended Total: 75000₳

Additional Notes:

Budget had been amended in order to satisfy the campaign criteria of a max budget of 75000₳, with a subsequent proposal in Fund 11 to accommodate the rest.

In the case that additional funding is required beyond this, Wada will attempt to source funding as appropriate to complete the directory.

[RESOURCES & VALUE FOR MONEY] Who is in the project team and what are their roles?

Project Team:

This proposal will be delivered by the Wada team, with support from partners that have contacts in the investment industry.

Josh Fielding - Project Lead + Global Lead @ Wada

Has a combined 10+ years’ experience in fintech and startups, focused on banking, payments and lending across Europe, APAC and African continents. He brings his years of project management and team leadership experience, running teams for Start Up Bootcamp and as an organizer for a Danish enterprise accelerator. His time in Canary Wharf working for the major banking and professional services firms has provided him with an insight into corporate partnerships and venture capital.

As an active member of Catalyst since Fund 2, 10x+ proposer, 6x+ challenge setter, Josh has the experience and capability to deliver on the goals of the proposal, alongside the team at Wada.

<https://linkedin.com/in/joshfielding>

Mercy A - Coordination Lead @ Wada

Has a combined 25+ years' experience in Project Management and Engagement (West Africa, Canada) Healthcare (UK, Canada) and brings a wealth of experience and passion to this project. Mercy is responsible for Wada coordination, and building partnerships.

<https://www.linkedin.com/in/mercy-tachie-menson-77b10931/>

Ezekiel Donkor - Software Developer @ Wada

Has a Bachelor of Science in Animal Biology and Conservation Science from the University of Ghana. Currently works as a software developer at Wada. Loves to challenge himself to work on new emerging technologies and tools, including blockchain and web3. Currently exploring the Cardano blockchain and all the possible applications in order to build tools and products to contribute to the community at large.

Efua Abekah - Researcher + Executive Assistant @ Wada

+ Wada network and advisors <https://wada.org/about-us>

Main stakeholder: Wada (<https://wada.org/>)

Relevant Partners:

Edify UK (<https://www.edifybusiness.co.uk/>)

[RESOURCES & VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

The cost of the project is justified by aligning it with the expected outcomes and impact on the Cardano ecosystem. Each milestone's cost has been determined based on an analysis of the project's requirements and the resources needed to achieve its objectives effectively. Market rates, complexity of tasks, and necessary investments have been considered to ensure that the costs are proportional to the value they bring.

The project's value for money is demonstrated through its potential long-term benefits and positive impact on the ecosystem. The costs are justified by the outcomes, such as the provision of increased funding opportunities, a more attractive value proposition to Catalyst participation and more robust Catalyst organizations overall.

Overall, the project's costs are well-justified and reflect a strategic investment in the growth and success of the Cardano ecosystem.

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