new.tech circular accelerator

The latest draft version and all sources can be found here, feel free to comment directly in the doc: https://docs.google.com/document/d/1j9JNYNAWExdQfvbJ9NI97CfIjTa6XK2_HrCNPGOtJTw/edit?usp=sharing

Vision: Empowering the world to lead a circular lifestyle.

Values: Be bold, have fun, promote simplicity, elevate consciousness.

Value proposition: new.tech is a creative tech community with a mission to accelerate new circular business models and ecosystems.

Market need: Global VC funding is rapidly accelerating and reached an all time high in the first half of 2021. Most of the capital flows into early and late stage companies, while only a small fraction is deployed in the crucial angel and pre-seed stages. At the same time, investors are becoming increasingly aware of stricter ESG standards. They see a significant investment opportunity in new ventures that are part of driving the transition to a circular economy that conserves resources and retains the use-life of materials as long as possible. Some top VC firms are even forming accelerators that exclusively targets sustainability focused seed-stage startups. Based on these observations, we believe there is a pull in the market for a new type of ecosystem that rapidly accelerates new ideas and ventures that are founded on circular economy principles. The biggest value creation opportunity right now lies in disrupting the process of taking new circular business concepts from the idea generation stage to seed funding and scale-up. At the same time, crowdfunding and digital asset markets are supercharging new categories of capital formation. Recent examples of this was the ConstitutionDAO initiative, which raised over $45m worth of ETH from over 17 000 users within just a few days. Another example was the innovative initial stake pool offering (ISPO) pioneered by MELD on the Cardano blockchain. It attracted over $1 billion worth of ADA from 40 000 users, and helped MELD generate $10 million in revenue. These two examples only represent the beginning of the rapid impact that it will be possible to create on top of decentralized consensus protocols. The next frontier in this space is the concept of Decentralized Consortium Funding (DCF). Best practices that can be derived from the emerging DCF methodology (both on-chain and off-chain) are destined to play a crucial role in superscaling circular innovation worldwide.

Approach: new.tech will develop a community of specialists across business, science and technology. The shared mission of this community will be to help accelerate new circular business models and ecosystems. An automated algorithmic screening and talent selection method will be utilized in order to ensure a fair and unbiased recruiting across age, race and gender. After an unbiased selection process, each candidate will be vetted and approved by an executive advisory board. The community will continuously source and refine circular ideas, concepts, founders and startups. New.tech will provide rapid funding and support to the most promising projects. Startup funding and community support will be incentivized with the help of newcoins - circular governance tokens. Newcoins will be distributed by new.tech to startups in exchange for ownership in their respective equity and/or tokens. In order to decentralize, automate, streamline and scale funding decisions, new.tech will utilize the DCF methodology from inception.

Focus: new.tech will narrow its focus on circular business models. The opportunities in this space are estimated to generate $4.5 trillion additional economic output by 2030. Most non-circular businesses are destined to be outcompeted by new circular entrants by 2030, mainly because distributed manufacturing will severely disrupt their existing value chains. Very few large incumbents such as IKEA and Patagonia are starting to prepare for the circular shift, which is increasingly driven by consumer demand. New circular entrants are not confined by existing linear legacy value chains and infrastructure. They are able to plan circular production and distribution at scale from inception. Scale-ups funded by new.tech will spearhead the use of digital prototypes (leveraging advanced simulation tools such as Nvidia Omniverse) to optimize use of resources and limit wasteful efforts. With new.tech as a decentralized governance, funding and mentoring community, countless of new circular concepts will be simulated, incubated and accelerated, and join the ranks of recent circular success stories such as New Movements, Grover and Too Good to Go.

Key success milestones for new.tech circular accelerator

Success after 3 months:

- Established initial corporate / legal structure

- Refined and approved north star and bullseye targets

- Defined key entities and stakeholders for execution and governance

- Agreed on ground rules for investors, community and token owners

- Launched branding and webpage (planned launch: 1st of march 2022)

- Recruited core executive team, co-founders and community members

- Launched first physical accelerator hub in Oslo, Norway

- Funded and supported first circular startup (pilot accelerator project)

Success after 6 months:

- Secured commitment of $10-100 million in funding from an accomplished team of investors

- Closed funding round and finalized a refined corporate / legal structure

- Completed recruiting of top level execution and governance team

- Attracted 1000+ new.tech core community members representing at least 100 countries

Success after 12 months:

- Launched Initial Stake Pool Offering (ISPO) for newcoins

- Newcoins token publicly listed and achieved at least $1 billion in total market cap.

Success after 12-24 months:

- Funded and supported 50-100 early stage circular tech startups with newcoins

- Established 5-10 additional physical accelerator hubs globally

- Scaled up operations and management to enable funding of the next 1000 startups worldwide.

- Become recognized as the world's fastest growing early stage startup accelerator

6 month budget:

- Branding and marketing: $100k

- Salaries for execution and governance team: $200k

- Digital/physical infrastructure & operations: $150k

- Legal & compliance: $100k

- Funding of pilot accelerator project: $50k

Total budget: $500k

Founders of new.tech

Martin Evensen was born in 1990 and grew up in Oslo, Norway. He has studied and worked in Oslo, Stockholm, Barcelona, and San Francisco which helped him develop a deeper understanding of cultures, people, business, and fine arts. During this time he discovered a passion for circular products and brand building. His startup New Movements produces circular shoes and leads the shift towards conscious products with a disruptive approach to environmental impact. With New Movements his mission is to accelerate the transition to circular and ethical products for the benefit of the earth and humanity. New.tech is the natural next step in his entrepreneurial journey to ensure that circular products and services become the global norm. His accelerator experience stems from incubating New Movements in cooperation with Katapult, Entrepreneurial Marketing New York and EYs Amplifier.

Linkedin: https://www.linkedin.com/in/martinevensen

Erik Rehbinder was born in 1985 and grew up in Oslo, Norway. He has studied and worked in Oslo, Copenhagen, Milan, London, and Hong Kong. After completing a master degree in Finance, Strategy and International Management he joined Accenture where he worked as a Sustainability Strategist for several years. During this time he had the privilege to shape the long term sustainability strategy and circular programs for some of the world's leading consumer goods companies. Four years ago his career path evolved to early stage entrepreneurship and angel investments. During this time he started Squeeze, which is now Europe's fastest growing subscription based massage concept. He also invested in several purpose driven companies, including New Movements. His accelerator experience stems from incubating Squeeze in cooperation with Askeladden&Co and mentoring Plaace, a startup that originated from the Antler accelerator program.

Linkedin: https://www.linkedin.com/in/erik-rehbinder-1520aa4/

Advisory team

Community

Lise Wessel brings 20 years of corporate marketing and communication experience to new.tech. She currently serves as co-founder and CMO of MELD, a decentralized banking protocol on Cardano that brings fiat loan capabilities to crypto. At MELD she specializes in community building, brand awareness and customer adoption. She has been a key driver in ensuring that MELD inspired over 40 000 supporters to stake over $1 billion in ADA during the world's first ISPO. She will advise new.tech on how to build a global supportive community that helps maximize its ambitions and impact.
Linkedin: https://www.linkedin.com/in/lise-wessel-9b17b7/

Anniken Fjelberg brings 25 years of experience as an entrepreneur, community builder and startup advisor to new.tech. Anniken is an expert in identity strategies, branding and communication, and has been investing in the startup scene for the past 10 years as co-founder of one of Norway's largest techhubs, 657 Oslo. She holds board member and advisor positions in several organisations, accelerators and companies. She's also a renowned speaker, consultant and strategic facilitator through her own consultancy Identio. She will advise new.tech on how to design its accelerator and achieve a vibrant physical community hub in Oslo, Norway.
Linkedin: https://www.linkedin.com/in/anniken-fjelberg-31a5632/

Blockchain

Trym Bruset brings 10 years of experience within mathematics, data science and blockchain to new.tech. He currently works as a product manager and blockchain algorithm developer at Iagon, a decentralized storage solution built on Cardano. Since reading the Satoshi white paper in 2010 he has been following blockchain development from an academic standpoint. He participated in the first Plutus pioneers program hosted by IOHK, introducing the EUTXO model and smart contract design of Cardano. He will advise new.tech on designing an optimal balance of on-chain and off-chain capabilities in order rapidly fund and support thousands of high-quality circular startups.
Linkedin: https://www.linkedin.com/in/trym-bruset-286671168/

Governance

Nils H. Thommesen brings decades of experience from law, governance, impact investing and value based leadership to new.tech. He currently focuses on impact investments and board member responsibilities. Before that he was the CEO of Wiersholm, one of Norway's largest law firms, and CEO of Summa Equity, a sustainability focused private equity fund. He will advise new.tech on setting up the right governance structure to ensure it will maximize long term value creation for all its stakeholders.
Linkedin: https://www.linkedin.com/in/nils-h-thommessen-b171b627/ 

Executive team

Tbd