Assistance to Non-Funded Projects

[GENERAL] Name and surname of main applicant

Sheraz Ahmed

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

Entity (Incorporated)

[GENERAL] Requested funds in ada

90000

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

5

[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)

We will reach out to at least 30% of the projects that will not receive a grant from Fund12 to receive their feedback and help them resubmit more effective proposals and keep them close to Cardano.

[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.”

No Dependencies

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

Yes

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

The project will be fully open source, barring the confidentiality of the participants.

[METADATA] SDG rating

SDG Goals

4 - Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all

8 - Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

9 - Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation

[SOLUTION] Please describe your proposed solution

Building on the efforts made with projects that did not receive grants during Catalyst Fund11, we are planning to take a proactive approach towards understanding and supporting projects that similarly might not secure funding in Catalyst Fund12.

To achieve this, we are preparing a form that will allow us to study and understand the emotional state and collect detailed feedback from at least 30% of the projects that do not receive a grant from Fund12. The primary aim of this initiative is to gather actionable insights that could help these projects refine and enhance their proposals for future submissions.

Understanding that direct communication can significantly boost morale and provide clearer guidance, we will also offer a 15-minute consultation call to all applicants who wish for direct contact. During these calls, project teams can discuss their feedback in more depth, ask specific questions, and receive personalized advice on how to better align their projects with the funding criteria. This direct engagement not only helps the project teams to refine their future proposals but also keeps them closely connected to the Cardano community.

This strategy is designed to foster a supportive environment where all participants feel valued and heard, regardless of their funding status. By actively engaging with those who did not receive grants, we reinforce our commitment to nurturing a resilient and inclusive ecosystem. This approach not only helps in improving the quality of future proposals but also ensures that promising ideas remain within the Cardano ecosystem and have the support they need to eventually succeed.

Additionally, we will offer a short series of webinars (in part prepared through our effort ), accompanied by materials, that will be focused on how to be less dependent on a single source of funding so that projects can do more with less or get started with (almost) nothing at all.

Webinars will be taught by entrepreneurs with both Web3 and Startup experience, sharing their knowledge on testing ideas without a budget, bootstrapping, how to cut costs, where not to cut corners to avoid getting in trouble, and different sources of early funding as well as how to pitch something that might not have revenue, users, a product, or even a finalized idea.

The content will focus on:

• Pragmatic approaches to entrepreneurship
• Learning from the experience of others
• Creating opportunities to share resources or get them for free
• How to know when to call a lawyer
• Evaluating ideas, recovering from setbacks, and knowing when it’s time to start
• How to start networking and gathering well ahead of when the funds are needed
• Working remotely, and building a team that complements each other's strengths and weaknesses

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

The effort outlined for engaging with projects that did not receive grants in Catalyst Fund12 could have a profoundly positive impact on the Cardano community. Here’s how:

Continuous Improvement and Success Rates

By collecting detailed feedback and understanding the emotional states of the project teams, the initiative provides essential data that can be used to identify common pitfalls and areas where projects may need additional guidance. This kind of feedback loop is crucial for continuous improvement within the ecosystem. As project teams refine their proposals based on actionable insights and personalized advice, the overall quality of submissions improves, increasing their chances of success in future funding rounds.

Enhanced Community Engagement and Support

Offering direct communication through consultation calls serves to enhance community engagement. These calls are not just about providing feedback but also about building relationships. Project teams feel supported when they can discuss their projects and concerns directly with experienced advisors. This kind of engagement fosters a community spirit and keeps the teams motivated to stay within the Cardano ecosystem rather than looking elsewhere for support.

Education and Resource Optimization

The planned webinars and educational materials that focus on becoming less dependent on single funding sources offer practical knowledge that is vital for the sustainability of projects. Educating project teams on bootstrapping, cost management, and alternative funding sources equips them with the skills to manage their resources effectively, ensuring they can advance their projects regardless of the funding outcome. This education not only aids individual projects but also stabilizes the broader ecosystem by reducing the fallout rate of unfunded projects.

Inclusion and Resilience Building

By actively engaging with projects that did not receive funding and providing them with tools and knowledge to succeed independently, the initiative promotes an inclusive and resilient community. The strategy ensures that innovative ideas that may need more refinement or a different approach aren't discarded but are instead developed and retained within the ecosystem. This approach reduces the risk of losing potentially transformative projects and talents.

Sharing Best Practices and Knowledge

Finally, by having entrepreneurs with Web3 and startup experience share their insights, the community benefits from a rich pool of knowledge that can prevent common startup failures. These learnings can be disseminated across the ecosystem, raising the baseline of knowledge and experience among all participants. Projects learn not only how to secure funding but also how to operate efficiently and navigate the complex landscape of technology entrepreneurship.

Overall, these efforts collectively ensure that the Cardano community remains a vibrant, supportive, and innovative environment where projects are given every possible chance to thrive, thereby strengthening the entire ecosystem.

[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?

STORM Partners has spent the past years building its capability to promote ecosystems like Cardano in the Web3 way, through community-driven engagement and by making the value of Web3 clear to more traditional stakeholders. 

Legal & Compliance Department has extensive experience with the legal recognition (and related regulation) of DAOs, as well as other regulatory requirements related to Web3 projects. We have incorporated several DAOs in Switzerland and abroad, registering them either as foundations or as associations (depending on the intrinsic characteristics of the projects and the different governance structures), and we are always up-to-date on regulatory changes to mitigate our clients’ regulatory risks.

Marketing & Growth Department has helped curate high-level go-to-market strategies while providing the affiliated brand research and guidance needed to become a leading dApp or DAO, helping with long-term communications, social media, public relations, growth hacking, personal branding, and influencer programs.

Finance & Fundraising Department has a successful track record in developing articulated fundraising strategies and financial planning. Areas of expertise include tokenomics mechanisms, nurturing investor relations, pitch deck structuring, etc.

We are also highly active in the Cardano ecosystem and have contributed through various initiatives and events to strengthen and shape its community and ecosystem. Some of our Cardano contributions and initiatives include:

• Sheraz Ahmed as Master of Ceremony at the Cardano Summit 2022 in Lausanne.
• Host at the Crypto Valley Conference 2022 & 2023, welcoming Frederik Gregaard.
• Executive Leadership at Crypto Valley Association coordinating activities with Cardano Foundation to promote the ecosystem in Zug and abroad.
• Participated in various Cardano side-events / meetups such as the London Masterclass and Meetup on 9th May 2023.
• Contribution to CIP-1694 workshop in Zug in June 2023.
• Early-stage private investors in Cardano projects such as MELD.
• Nicola Massella Conducted a Legal Masterclass on Legal and Regulatory Aspects of Staking Mechanisms at the Cardano Summit 2023
• Sheraz Ahmed Judged the hackathon at the Cardano Summit 2023, and also contributed to the prize pool.
• Influencer campaigns for Cardano Spot

We understand the importance of financial planning, budgeting, processes and accountability for the engagement we perform. Specifically, we will deploy progress updates. The team will regularly update each milestone with detailed explanations of a given task, with hours employed, outcomes and measurements. The updates will include reports on KPIs and metrics reached and strategic and implementation adjustments due to emerging issues or changes in the Cardano DAO ecosystem.

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

Our goal in the first milestone will be to initiate the project, set responsibilities, and plan the work for the following weeks and months.

Outputs

1. Project onboarding document (draft)
2. Team lead introduction to the community
3. Feedback Form

Acceptance Criteria

1. A draft .pdf document with the team members, the milestones and subtasks, key deadlines. This document will be a draft because it will be updated as the project progresses.
2. A 1-2 minute video introducing the team and the project to the community, shared on social media (channel TBC, but probably TG or Twitter)
3. A Google form that assesses the emotional state, understanding, and plans of non-funded participants, with between 2-6 questions and an offer to follow up.

Evidence

1. A link to the draft.
2. A link to the video and a link (twitter) or photo (TG) of the social post.
3. A link to the form.

• All evidence to be presented per the acceptance criteria and stored on a public notion page or shared folder.

Our goal in the second milestone will be to reach out to non-funded projects and, if desired, offer them a 15-minute consultation on what they can do next based on their specific situation.

Output:

1. Survey results
2. Anonymized log and main focus of 15-minute consultations
3. Report on survey and outreach results

Acceptance Criteria:

1. A .pdf with the results of the surveys either copied or transcribed from the Google form in raw format.
2. A .pdf of a spreadsheet with a row for each call, information about the project (category, type of application), whether the proposer engaged with the community, whether they plan to submit to future rounds, and what the main pain points they're experiencing are.
3. A .pdf of a report that draws conclusions from the survey and consultation results, with at minimum a section on how outreach was performed (at least 30% of non-funded projects must have been sent messages via the ideascale platform), response rates and reception of the approach, a section on trends among non-funded projects, a section on knowledge gaps, and a section on potential quick, mutual wins for both the proposers and the ecosystem.

Evidence

1. A link to the pdf.
2. A link to the pdf.
3. A link to the pdf.

• All evidence to be presented per the acceptance criteria and stored on a public notion page or shared folder.

Our goal during the third milestone will be to provide resources and education to the interested non-funded projects in order to make them feel supported by the ecosystem, increase the chances that they will submit proposals again, and increase their chances of success.

Output

1. Two webinars (minimum) on the most common issues with non-funded proposals
2. One general webinar on starting projects and increasing project resiliency
3. Educational materials

Acceptance criteria

1. Two videos of more than forty minutes uploaded to a private Youtube channel that address the most common project issues identified in the report from Milestone 2. Live component optional.
2. One video of more than forty minutes uploaded to a private Youtube channel addressing pre-money forming of teams, acquiring multiple sources of funding, and cost-effective product development recommendations.
3. At least one .pdf containing information that reduces the knowledge gap identified in the report from Milestone 2.

Evidence

1. A link to the videos.
2. A link to the video.
3. A link to the pdf.

• All evidence to be presented per the acceptance criteria and stored on a public notion page or shared folder.

The goal of the final milestone will be to communicate the project and close it out.

Outputs

1. End of project report
2. End of project video

Acceptance criteria

1. The .pdf of the end of project report will combine the finalized report from Milestone 2, including design elements like graphics and specific recommendations for each Catalyst category, the team's lessons learned from implementing the project, and any closeout statements from the team lead.
2. A 2-3 minute summary of the findings from the end of project report.

Evidence

1. A link to the pdf.
2. A link to the video

1. All evidence to be presented per the acceptance criteria and stored on a public notion page or shared folder.

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

Marco Moshi - Ecosystem Director

https://www.linkedin.com/in/marco-moshi/

Marco Moshi is a dynamic leader in the Web3 ecosystem, currently serving as the Ecosystem Director at Storm Partners. With a profound understanding of decentralized technologies, Marco has spearheaded key initiatives such as Polygon Village and the Polygon DAO. His technical expertise and strategic insight have significantly contributed to lowering entry thresholds in Web3 and enhancing decentralized governance across major organizations. Committed to the progressive decentralization of business and social layers, Marco continues to drive impactful growth and innovation within the blockchain space.

Operations Department

Darby (D.J.) Bodden - Director of Operations

https://www.linkedin.com/in/d-j-bodden-00598a5b/ 

D.J. is a 20-year professional with a focus in organizing both large formal and small startup operations. He started as a military officer, and then transitioned to commodity trading before helping start and fund a blockchain traceability startup from the ground up, working with large enterprises to deliver the solution. He has since then used the lessons learned those experiences to help businesses refine their strategy, operations, and processes.

Legal & Compliance Department

Nicola Massella - Partner & Head of Legal

https://www.linkedin.com/in/nicolamassella 

D.Jur. Nicola Massella is an expert on crypto-assets and blockchain technology regulation with a commitment to decentralising and democratising capital markets. He is the head of STORM Partners’ Legal & Compliance Department. Additionally, he is engaged pro bono as Legal Research Officer at the Blockchain & Climate Institute and as a member of the Regulatory Working Group at the Crypto Valley Association. He developed specific expertise concerning DAOs by assisting multiple decentralised organizations in establishing a sound legal structure.

Marketing Department - Community Engagement & Design

Leon Waters

https://www.linkedin.com/in/leon-waters-leon-tk/

With over a decade of experience, first as a journalist in the music industry and then as a polyvalent marketer in Web3, Leon Waters is a flexible and capable professional who brings a higher level of engagement, reach, and clarity to any project he participates in.

Project Coordinator - 

Sheraz Ahmed - Managing Partner

https://www.linkedin.com/in/sherazahmed1/

Sheraz Ahmed has advised hundreds of organisations on the implementation of modern Web3 practices to further their business objectives. As the Managing Partner of STORM Partners, an all-in-one service provider, and as the Co-Executive Director of the Crypto Valley Association, he drives growth, collaboration, and integrity across the global blockchain ecosystem!

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

This will be a research-intensive project. The breakdown should be approximately as follows:

Project management and Catalyst reporting: 9,000 ADA

Survey design and outreach to the non-funded projects: 11,000 ADA

15-minute sessions with non-funded projects: 20,000 ADA*

Creating and delivering materials: 10,000 ADA x 3

Ecosystem and community recommendations: 13,000 ADA

Revision and finalization of the report: 7,000 ADA

The above numbers will be internally adjusted to deliver the output.

*Based on past experience, we anticipate ~10% response rate and interest in help from contacted projects, or 60 calls. Some participants will have multiple proposals. We'll likely be flexible on time, here, depending on needs, and need to transcribe them, follow-up, or provide introductions afterward, so we're anticipating this will be somewhere between 90+ hours of work by 1-2 people.

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

The value for money of this project for the Cardano ecosystem can be understood through several key aspects that directly contribute to the ecosystem's growth, sustainability, and overall health:

1. Retention and Development of Projects

By providing support to projects that did not receive grants, the initiative helps retain innovative ideas and talented teams within the Cardano ecosystem. Instead of losing potentially valuable projects to other platforms due to initial rejections, this effort encourages them to refine and improve their proposals. The continual development and eventual success of these projects increase the diversity and quality of applications and solutions built on Cardano, which is crucial for the ecosystem's robustness and appeal.

2. Enhancement of Proposal Quality

The detailed feedback and personalized advice offered through consultation calls and feedback forms directly contribute to enhancing the quality of future proposals. This not only increases the chances of these projects securing funding in future rounds but also elevates the standard of project planning and execution within the community. Better-prepared projects lead to more successful implementations and a higher likelihood of project success, which in turn fosters a more reliable and effective ecosystem.

3. Community Engagement and Support

The project fosters a supportive and inclusive environment where all participants feel valued. This is essential for building a strong community spirit and encouraging open collaboration and sharing of ideas. High community engagement leads to a more vibrant ecosystem, attracting more developers and entrepreneurs to Cardano, and enhancing its reputation as a supportive and innovative blockchain platform.

4. Education and Resource Optimization

The webinars and materials provided as part of the project educate the community on crucial aspects of entrepreneurship in the Web3 space, such as bootstrapping, cost management, and accessing diverse funding sources. This education helps projects maximize their efficiency and efficacy, reducing their dependency on grant funding alone. Empowering project creators with the knowledge to sustain their initiatives even in the absence of immediate funding ensures long-term viability and success, which is a tremendous value for the entire ecosystem.

5. Promoting Innovation and Self-Sufficiency

By teaching projects how to start with minimal resources and encouraging innovative funding and development strategies, the ecosystem promotes a culture of innovation and self-sufficiency. This can lead to the creation of more ground-breaking technologies and business models that can sustain themselves and thrive independently of external funding, further adding to the ecosystem's stability and growth.

6. Multiplier Effect

The skills, insights, and improvements gained from this project are likely to have a multiplier effect as project teams apply their knowledge to future initiatives, share their learning with others, and contribute to the community's overall capability and expertise.

Overall, the project represents a strategic investment in the foundational strength and capability of the Cardano community, promising returns not just in terms of project outputs but in the enhanced capacity and resilience of the ecosystem as a whole. This alignment with long-term strategic goals of growth and sustainability justifies the expenditure as offering substantial value for money.