Detailed Plan
What is Innovatio?
Innovatio was born a year ago with the mission to drive the adoption of blockchain technology in mainstream financial services. In March it was decided to work with Cardano Blockchain to deploy the decentralized marketplace of the platform.
For more than 1 year this project has been under development since its conception, study, and development, as we firmly believe in the possibilities that this platform can provide. In this Fund 6, we have achieved the financing of two proposals focused on attracting entrepreneurs and freelancers outside the blockchain world and encouraging them to learn about the technology and use it in their own interest.
In this new proposal, we develop the concepts in a more friendly way and clarify the main differences and features of the platform. Let's know more about it.
What is The Innovatio Founder Platform?
The Innovatio Founder is a Crowdfunding platform that aims to support fundraising campaigns under a reward-based modality where DApps and start-ups will be able to raise funds in multiple currencies in a decentralized and disintermediated marketplace with security, transparency, and a unique user experience.
The platform's marketplace is oriented to innovative and technological projects, video games, design, software, and all other digital services.
Here projects from all over the world will be able to register their crowdfunding campaign on the blockchain without any technical knowledge. We want to reach financial freedom and the adoption of blockchain technology to new limits.
To make this possible, Innovatio will have to work on two points, the marketplace on the blockchain (smart contract and governance) and the disintermediation of the platform (adoption and functionalities).
This will allow users and projects without technical knowledge or related to blockchain technology, to launch their crowdfunding campaigns or finance them, since The Innovatio Founder's platform will facilitate the interaction with the blockchain.
How does it work?
One of the main problems in the adoption of decentralized applications is their difficult use and the technical learning curve required by the user. Innovatio works as a disintermediated platform helping users to interact securely with the marketplace.
All users will be able to manage and interact with their own wallet, digital and legal identity, and a world of opportunities at their fingertips.
Let's get to know some of the platform's features:
Easy Interaction, more Adoption (Interaction)
The crowdfunding platform offers a user experience oriented to interact easily with the blockchain, in this way we help the adoption of it for non-technical users, something that is a problem nowadays.
To interact disintermediately with the blockchain, we use interactions with the user's wallet, so as wallets allow, we will add more possible wallets to connect to the marketplace.
Thanks to our partnership with GameChanger Wallet, users who do not have their wallets will be able to create their self-custodial web wallets and easily interact with the platform and the marketplace, allowing all users to interact with it.
More adoption, more possibilities (Investments and Campaigns)
The crowdfunding platform will allow hundreds of projects to raise funds in cryptocurrencies and fiat allowing for greater market adoption and funding possibilities.
The money raised by crowdfunding campaigns will be held in a stablecoin, to preserve its value over time and eliminate the risk of crypto market fluctuation.
Users can pay with their credit/debit card in dollars, euros, or in their local currency through our payment gateway that will enter your fiat funds into the crypto system through an exchange.
Also, users can transfer and pay with cryptocurrencies such as Bitcoin, Ethereum, Cardano, etc.
Auditability and Transparency (Milestone Methodology)
Crowdfunding campaigns are (AON) All or Nothing, in which if the funding goal is not reached in the established time, the funds are returned to the investors.
Once the fundraising goal is reached, the projects will receive the first bunch of funds to develop what is established in the campaign plan, this plan allows the whole process of financing and development to be audited, transparent, and secure for all investors.
Let's look at an example:
ElekCar is a company that is developing an innovative electric car and has submitted a crowdfunding campaign to The Innovatio Founder to finance the production of this new car.
ElekCar is sending the necessary documentation to be able to properly audit the project and will serve to set up the governance of the campaign. Like any crowdfunding campaign, it will provide general information about the project, development team, background, roadmap, budget, etc.
In this example, we can see that the project cancellation is set at 50% of the invested capital must vote negative and this variable will be up to the project. Also, we can observe that there are 3 perks, there are the investors' purchase options, which will also have information of what they are buying.
All the projects go through a review stage by the platform, to ensure the auditability of the project, making sure there are objective and achievable metrics. funding goal, until it reaches its goal, it will not be able to dispose of the money raised, ensuring that the project will have the necessary funds to fulfill its product/service.
Preview ElekCar Campaign
Funding goal: 100k
Milestones established: 2
Vote needed to re-fund: 50%
Target delivery date: March 2022
Perks 3:
1st Milestone: Money required 35k
The first stage of the development of the car is to produce and test the engine and batteries, which will be the heart of the car.
In this first stage of production, we'll build the motor and the battery presented in the project information and obtain the analytics of their performance.
You will also see a preview of the chassis and a simulation of how it will be assembled, in this way, we can give a great assurance to the investor that the project is evolving in a good way.
Objectives:
- Deliver motor and battery analytics.
- Demonstrate motor in action.
- Video demonstration of the carriage assembly.
- Video of battery production.
Estimated Audit Date: January 2022 (To be defined by the proposer)
2nd Milestone: SAME
In this way, the project is setting an estimated completion date for the first milestone and is needing 35k of the 100k raised, it also provides information on what it is going to do with this money and what it is going to present to investors for the audit.
Governance and Auditory
Marketplace users are regulated with legal and digital identities with integrated KYC, protecting them on a legal backing. In this way, investors will be able to participate in the governance process of each project and audit its results.
In this way, investors may vote to cancel the development of a campaign if it is understood that it is not meeting expectations. (vote the 50% mentioned above) the marketplace meets the regulatory and normative conditions of international FSAs, allowing it to be international, legal, regulated, and innovative in the field of decentralized finance.
Possibilities with The Innovatio Founder
- Easy wallet creation and interaction with the blockchain
- Allows crowdfunding campaigns for cryptocurrency projects
- Allows crowdfunding campaigns for non-blockchain projects
- Allows raising funds in cryptocurrencies.
- Allows raising funds in fiat currencies.
- Links legal identities (Data-Base) with digital interactions (Blockchain transactions)
Possibilities with any Launchpad/Crowdfunding Platform
- Campaigns can only be created for crypto OR fiat projects.
- Only investment in crypto OR fiat currencies.
- Its use is limited to an audience with technical knowledge. (Launchpads)
- A Launchpad can only understand about digital identities (Wallets)
How will we attract investors and projects to the platform?
Innovatio has a public community dedicated to digital entrepreneurs and freelancers, this community is led by Aidan, who has been doing an excellent job with the PlayerMint community and has joined to lead the brand community initiative and their activities and contributions of value to the community.
Our brand is in continuous contact with other important community projects such as ALDEA, Swarm Community, Eastern Townhall, Gimbalabs, etc. They could present some Crowdfunding Campaigns to fundraise new initiatives. These communities provide an intra-community collaboration, which is a key pillar in attracting investors and developing projects.
You can read more about our community here: <https://cardano.ideascale.com/a/dtd/Entrepreneur-Community-Mentoring/369325-48088> (Fund 6 Funded Proposal)
Marketing Campaigns
Innovatio's public community allows us to reach a target audience in which the emergence and development of new projects is something daily and usual, and also investors and customers willing to support them, so it is a great space of interest for the crowdfunding platform.
We will also develop advertising campaigns on Instagram and Facebook, to attract investors and early stages projects encouraging them to use the advantages of our platform over the competition. These campaigns will be audiovisual and will focus on the advantages of blockchain technology and the possibilities of the crowdfunding platform.
What success looks like
The success of the platform can be summarized in something very simple: to provide a disintermediated, transparent and secure crowdfunding service that allows investors and blockchain and non-chain projects to interact with the marketplace on the Web3.
Innovatio Founder is a disintermediated crowdfunding service on the blockchain where innovative technology projects of various categories can launch their crowdfunding campaign to raise funds in cryptocurrencies and fiat currencies with the integration of a KYC regulated by the FSA, for the safety of all users and the relevant regulations to operate internationally. This will allow non-technical users to interact and manage their digital identity in the marketplace (wallet) through the platform.
This allows us to offer the advantages of blockchain technology, with its transparency, security, and functionalities, such as being able to raise funds in fiat and crypto, having a decentralized marketplace regulated with KYC, and allowing campaigns for any type of technological projects.
In 3 months: The platform will have the MVP launched in January and will implement smart contracts to implement governance/auditability and automation of transfers with smart contracts. (Re-Fund system and Instant Rewards)
In 6 months: The platform will have a regulated KYC, will improve its voting process by migrating it to the blockchain, and will be able to audit its smart contracts for a legal market launch under the FSA.
In 1 year: The platform will have a regulated KYC, voting process and will be able to fund in fiat currencies and crypto in general.
Roadmap for this 4 months.
1. Launching MVP with Game Changer Wallet (December - January) More Info: <https://bit.ly/3nAYrL4>
2. Development of extra functionalities and improvements of the MVP (January - February)
- Integration of more wallets.
- Profile customization.
- User experience improvements.
3. Development of Smart Contracts template for transaction automation. (February - April)
- Launch of disintermediated crowdfunding campaigns.
- Implementation of Milestones
- Implementation of off-chain governance.
Features
Smart Contract audit for FSA regulation. (Q2 2022) MCP to launch it to the market.
Implementation of payment in other cryptocurrencies. (BTC, ETH, TRX, etc (Q3 2022)
Implementation of fiat currency payment by credit/debit card. (Q3 2022)
KPIs
1. Number of successfully funded projects.
2. Amount of money raised on the platform.
3. Number of successful onboarded users (Measured by wallet registrations)
4. Daily Number of active users.
5. Number of active Collaborations with other Community Projects and Initiatives.
Breakdown Budget
We currently have two back-end engineers who are in charge of the database and its APIs and also a full stack developer for the front-end. We also have an agency that manages our community and image, web design.
We will need to hire a professional to develop the Smart Contract in Plutus, in the IOG community we have selected some programmers with these skills for future hiring.
CTO and CEO Salaries: 4.500$/mo x4 months: $18.000
1 Full Stack Developer: 2.800$/mo x4 months = $11.200
2 Back-end Engineers: 6400$/mo x4 months = $25.600
1 Plutus Programmer: : 4.000$/mo x3 months = $16.000
Marketing Budget: $6.600
Amazon AWS Services Maintenance: $2.600
Total Budget: $80.000
<u>REMEMBER CHECK THE ATTACHED DOCUMENTS</u>
Social Networks
Twitter: <https://twitter.com/InnovatioGroup>
Facebook: <https://www.facebook.com/InnovatioFounder>
Instagram: <https://www.instagram.com/innovatiofounder>
Discord: <https://discord.gg/tcrdaytKDg>
CA Guideline Help: We invite all CAs and vCAs to approach any of the social networks or contact us personally by Discord, to resolve any questions about the proposal, remember that this is possible at the stage of assessments and review. However, we also leave why we believe we should receive a good rating.
Impact:
The challenge seeks to encourage the development of Cardano's DeFi ecosystem with resilience, safety, research-based economic models and critical thinking to compete with other blockchains and its scalability.
The Innovatio Founder is a disintermediated DeDi that would allow the launch of crowdfunding campaigns to finance on-chain and off-chains projects. This way it encourages the financing of projects in the Cardano layer in a simple way for all users and with high security standards (KYC, Milestones, Crypto-transactions).
Feasibility:
We have developed a very good explanation of how the platform works, we have been developing the proposal for a year, so we have extensive knowledge of the market as well as in the analysis of the technical and legal implementation of this proposal.
We also have a committed team, the support of other projects that could help us in case of any unforeseen event, and partnerships in the development such as GameChangerWallet.
Clarity/Auditability:
The auditability in the development and impact of the project is very clear, a series of objective KPIs have been provided to measure its success and the project has been separated into stages to make it feasible, and also, we have studied the average salaries of the people we need to hire so that there are no cash flow problems.
We will also make periodic videos to explain and verify the development of the platform.
