More non-dilutive funding for Cardano Projects

[GENERAL] Name and surname of main applicant

Florian Pittini

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

Individual

[GENERAL] Requested funds in ada

200000

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

6

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language.

No

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

Set up an entity to offer the service for the Cardano ecosystem to step into other even non-diluting finance opportunities. 

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

No

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.”

N.A.

[GENERAL] Will your project’s output/s be fully open source?

No

[GENERAL] Please provide here more information on the open source status of your project outputs

N.A.

[SOLUTION] Please describe your proposed solution.

To capitalize on the abundant non-diluting funding opportunities available globally, particularly for EU-based startups, a strategic initiative for the Cardano ecosystem involves establishing a dedicated entity. This entity would serve as a consultant for Cardano startups, enabling them to tap into various grants, such as the EIC Accelerator, which offers substantial financial support. With grants of up to €2.5 million and the possibility of equity investments ranging from €0.5 to €15 million or more through the EIC Fund, the entity would play a pivotal role in navigating and accessing these funding channels.

By centralizing efforts, the entity can streamline the application process, provide guidance on grant eligibility, and enhance the ecosystem's overall visibility, ultimately fostering sustainable growth and innovation within the Cardano community. Moreover, the entity would extend advisory services on company formation, crucial for cases where the preferred grant options are exclusively available for local entities, thus ensuring comprehensive support for Cardano startups pursuing sustainable growth and innovation.

[IMPACT] Please define the positive impact your project will have on the wider Cardano community.

The establishment of a dedicated entity to facilitate Cardano startups in accessing non-diluting funding opportunities, particularly through initiatives like the EIC Accelerator, will have a profoundly positive impact on the wider Cardano community. First and foremost, it will open up substantial financial avenues for startups, potentially providing grants of up to €2.5 million and equity investments ranging from €0.5 to €15 million or more. This injection of capital will empower Cardano startups to accelerate their research-driven projects, fueling innovation and development within the ecosystem.

Additionally, the entity's role as a consultant and central hub for navigating funding channels will simplify and streamline the application process, reducing barriers for startups seeking financial support. This not only enhances the visibility of Cardano projects but also attracts more talent and entrepreneurial initiatives to the ecosystem.

Furthermore, by providing guidance on company formation, the entity ensures that Cardano startups are well-positioned to take advantage of grants that may be restricted to local entities. This strategic advisory support contributes to the growth and sustainability of Cardano projects, fostering a robust ecosystem with diverse and impactful innovations.

The impact of this initiative on the wider Cardano community will be measured through key performance indicators such as the number of startups successfully securing non-diluting funding, the amount of funds raised collectively, and the growth and progress of supported projects. Monitoring the increase in visibility and participation of Cardano startups in global grant programs, particularly the EIC Accelerator, will also serve as a crucial metric. To transparently share the outputs and opportunities stemming from this project, regular reports, and updates will be disseminated through official communication channels, social media platforms, and newsletters.

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

Personally I have a proven track record in project management, financial oversight, and consultancy within the startup and blockchain space as well as hiring a great team to execute difficult tasks. I bring a wealth of experience in navigating funding opportunities, including successful engagements with grant programs and strategic partnerships.

First things first, I will set up the entity and hire the first team members to validate the feasibility of our approach, a thorough feasibility study will be conducted, encompassing an in-depth analysis of the grant landscape, regulatory requirements, and potential challenges. We will engage with legal and financial experts to ensure compliance and mitigate risks. Additionally, a pilot program will be initiated (for a reduced price) to test the efficacy of our consulting services, providing valuable insights and feedback for further refinement.

[Project Milestones] What are the key milestones you need to achieve in order to complete your project successfully?

Feasibility Study Initiation:

• Launch a comprehensive feasibility study to analyze the grant landscape, regulatory requirements, and potential challenges.
• Engage experts to ensure a thorough understanding of compliance and risk mitigation strategies.

Output:

• Grant landscape report EU, Asia & USA)

Entity Establishment and Team Formation:

• Set up the dedicated entity for facilitating the service to Cardano startups.
• Hire the initial team members with expertise in project management, finance, and blockchain.

Output:

• Company setup
• Team setup
• Operation ready

Pilot Program Launch:

• Initiate a pilot program for consulting services, offering reduced-price packages to a select group of Cardano startups.
• Implement and test the efficacy of the consulting approach in navigating funding channels.

Output:

• Start the operation by offering the service

N.A.

N.A.

Feedback Integration & Service Video:

• Analyze feedback from the pilot program participants to identify strengths, weaknesses, and areas for improvement.
• Refine the consulting services based on insights gained during the pilot phase.

Output:

• Video about the service and summary about the pilot phase

[RESOURCES] Who is in the project team and what are their roles?

Florian Pittini - co-founder and co-CEO from NEWM (newm.com) and Venture Partner at Dealflow.

(Linkedin: https://www.linkedin.com/in/florian-pittini/ ) As the leader, I oversee operations, strategy, and finance. My strategic vision shapes the direction of operations, ensuring alignment with overarching goals and objectives. I am adept at navigating the complexities of financial management, drawing from years of experience in budgeting, resource allocation, and risk mitigation. My operational prowess ensures seamless execution, from project initiation to delivery. With an eye for strategic opportunities, I steer the project towards sustainable growth, identifying key milestones and optimizing processes. My multifaceted role is instrumental in shaping the project's trajectory and ensuring its financial viability.

Project Manager: A skilled project manager is the linchpin of successful initiatives, possessing a unique blend of organizational prowess, leadership acumen, and strategic thinking. They excel in orchestrating complex projects, adeptly navigating timelines, resources, and stakeholder expectations. Effective communication and team coordination are hallmarks of their approach, ensuring that every stakeholder is aligned with project goals. A project manager's ability to foresee potential challenges, mitigate risks, and adapt to changing circumstances is instrumental in steering the project towards successful outcomes. Their holistic view of the project landscape and commitment to meeting objectives make them invaluable assets in the journey from conception to completion.

Technical Grant Writer: A technical grant writer is a wordsmith with a deep understanding of complex technologies and the ability to translate intricate concepts into compelling narratives. Armed with a proficiency in both technology and grant application processes, they bridge the gap between technical innovation and funding opportunities. Their expertise lies in crafting grant proposals that not only meet the stringent requirements of funding bodies but also effectively convey the novelty and impact of the proposed project. Technical grant writers possess a knack for distilling technical jargon into accessible language, making a compelling case for why a particular project deserves financial support. Their role is pivotal in securing funding that propels innovative ideas from the drawing board to real-world implementation.

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources.

The allocated funds will primarily be directed towards the team only small portion will help to setup the entity as well as cover operational expenses. We are excited to onboard two key professionals— a seasoned Grant Writing Specialist and an experienced Project Manager— instrumental in kick starting the grant writing services.

Despite acknowledging the current elevated ADA price, we've factored in a safety net to address potential market challenges impacting our team. In the event of a decrease to around EUR 0.25, the proposal total would hover around EUR 50´000.

This safety net allows to have at least 6 month of stable active operation additionally the estimated average of the ADA price from where we are now to EUR 0.25 should be able to cover remaining gap as well as the option that the founder is waiving his salary.

Should ADA prices witness significant fluctuations, we will adjust the pricing model because right now we have planned with an tremendous discount for Cardano Startups due to the nature of catalyst.

Below you will find the operational expenses of this proposal.

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

The project's cost is justified by the potential returns in the form of substantial grants and equity investments that can significantly propel Cardano startups. The expertise brought in through financial, and strategic consultations adds considerable value, ensuring that startups not only access funding but also navigate regulatory landscapes, optimize their operations, and make informed strategic decisions. Additionally, the company will have a significant discount for Cardano startups in the beginning to give back to the Community.

Moreover, the project aims to enhance the visibility of Cardano startups globally, attracting more talent, collaboration, and opportunities to the ecosystem. The value lies not only in the immediate financial gains but also in the long-term sustainability and innovation catalyzed within the Cardano community.

[IMPORTANT NOTE] The Applicant agrees to Fund Rules and also that data in the submission form and other data provided by the project team during the course of the project will be publicly available.

I Accept