Please describe your proposed solution.
A big part of the team activities is related to onboarding impact companies to Catalyst & Cardano.
The team had several funded-related proposals that aim to onboard more companies to the ecosystem:
- Fund 7 - Business Development Hub Geneva - closing video & Closing report
- Fund 7 - Strategy Framework - miro board
- Fund 8 - Community lead generator
- Fund 8 - Cross-chain impact lead generator
Some companies we managed to onboard already:
- www.Seedstars.com
- www.Goodwall.io
- www.Digifarm.io
- <https://accelerate2030.net/>
- <https://thepondfoundation.org/>
And we are in ongoing discussions with many more companies and we aim to onboard them Cardano & Catalyst. Some of which are traditional organizations like universities, non for profit, and non-tech-related companies.
The success of our work led us to understand the great potential to continue and onboard companies and the impact it could have on Catalyst and Cardano. The closing video of the business hub Geneva proposal is a good showcase for it. We are now working on building the tools and infrastructure to expand the hub to multiple locations with the vision to create Cardano Smart Business Hub Center.
We are already developing the guidebook to onboard companies, which could be viewed in this link. The challenge is that once the companies are onboarded the next step is to figure out some key areas:
- Receive and manage funds: wallets, accounting, FIAT
- Admin around catalyst
- Communication and connection to the community
- How they can use Caradno technology for their operation and projects
We are getting those questions and requests for support on a regular basis and would like to dedicate time and efforts to provide a more systematic solution. This proposal focuses on developing the playbook for the services we can provide companies that got catalyst funding. It will facilitate interaction with catalyst and community and will guarantee a long-term engagement. By doing so we will support the onboarding of new companies and we will have some ready answers for repeating questions mainly around receiving ADAs. Each fund's more issues will come based on the catalyst progress & adjustments as well specific information related to the fund. For example for fund 9, what is CLAP token and how do we change it to ADA?
The solution will therefore offer:
- Developing a basic playbook for funded companies
- QA written section
- Cardano technology for business intro document
- Office hours to answer specific questions
- Connecting to relevant ecosystem players and community members
- Collaborate with the Treasury-Guild team to design accounting process and reporting
Please describe how your proposed solution will address the Challenge that you have submitted it in.
The challenge text states: “When receiving Funds, many emerging Projects in Catalyst face legal and financial issues which block them from moving forward.”
This is exactly what the proposal is about with a focus on funded companies that are making their first steps into blockchain and Cardano and project Catalyst being the starting point. As we already showed, many great companies are interested to come on board and make an impact on the ecosystem. Supporting those companies also post-funding will increase engagement as well as attract more companies.
What we already noticed is while companies first come to Catalyst to offer their services post-funding they evaluate how to use Cardano technology for their operation.
What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?
Risk one: within companies and especially big companies there are multiple stakeholders to interact with - this could create confusion and sync issues. In our work, we will take into account also the possibility to communicate with multiple stakeholders - accounting, communication, admin, operation and share relevant information
Risk two: Catalyst is very unique in its operation and there are no “official” docs or letters. Recently a major organization/university asked for some sort of a signed letter explaining the catalyst process and funding. We interacted with various IOG and CF members and as of now, there is no such thing. The challenge we have is how to streamline the onboarding with traditional/ rigid organizations. The way to mitigate it is to find ways to build confidence and show a track record of catalysts and companies already onboarded. We will also need to adapt the explanation about Catalyst bearing in mind those types of companies/organizations.