Link to Ideascale: https://cardano.ideascale.com/a/dtd/Extensive-List-Of-Challenge-Types/370119-48088

 

Challenge question :

Are you a non-crypto/blockchain business wanting to apply for funding in cryptocurrency? Would you like to put forward a proposal now?

 

Why is it important?

Cardano is a 3rd generation Blockchain developed over 7 years and aiming to be the leading cryptocurrency funder of traditional businesses.

 

How does success look like?

Traditional businesses looking for crypto funding to incorporate cryptocurrencies & blockchain technologies into their business.

 

Key Metrics to measure

 

How many non-crypto based businesses have applied for funding?

How many traditional businesses have been funded within the challenge Budget?

Which of these businesses are planning to incorporate Blockchain technology into their operations?

Which of these businesses are planning to accept cryptocurrencies for their products or services?

Which of these businesses are planning to use or develop decentralised finance (DeFi) or applications (dApps) in their businesses?

Which of these businesses are planning or interested in launching their own Cardano Native Token to fund their business?

Which of these businesses are planning to employ developers from the crypto/blockchain industry?

How will the applicant increase understanding and adoption of Cardano, ADA and native Tokens generally or within their industry?

How much publicity and media coverage has been generated by this application of crypto/blockchain to a traditional business?

Was this publicity positive or negative and has it encouraged new businesses to apply to Catalyst?

Will this application of crypto/blockchain raise understanding of our industry motivate greater general adoption?

Will the businesses or industries encourage adoption of cryptocurrencies into daily life of ordinary people?

Have the planned improvements or implementations been achieved in line with the expected roadmap timetable?

 

Challenge brief

 

The Catalyst "Crypto Venture Capital" Challenge is to attract traditional businesses to find innovative ways to use our cryptocurrency & Blockchain technologies in interesting ways to increase the success, efficiency and advance the 4th digital industrial revolution.

 

The budget has been set with a view to providing funding to the widest range, and largest number, of businesses that are new to our industry and to attract proposals from around the world.

 

If you are interested in this new way of funding your business, to launch, grow or rescue it, here are a number of factors you might consider and explain in your proposal, if you are uncertain then you can explain your uncertainty and seek comments, collaborators or even new team members who will help clarify any issues and work with you to refine your proposal, so it is successful in gaining funding.

 

Things to consider when preparing your proposal for Catalyst funding.

 

Explain the type of business you are and the industry you are a part of.

What would you like to add to your business using Catalyst Funding that will make it more successful?

Explain how you are planning to incorporate Blockchain technology into your operations to make it more efficient or secure?

Which of your products or services would you like to accept cryptocurrencies?

How do you feel that decentralised finance (DeFi) or applications (dApps) will help you develop your businesses?

What challenges will you need to overcome and what resources do you think you will need to succeed?

What advice are you seeking and what advice or information would be useful in your industry to achieve more adoption?

What new team members do you think you will need to smoothly incorporate crypto/blockchain technologies into your business?

Do you have any ideas or suggestions on how to encourage other businesses in your industry to use this technology?

How will you introduce your new technologies to your customers and do you think it will encourage more adoption in day to day life?

Is there anything about your business type or industry we might not know about and which you would like us to suggest solutions for?

 

These are just guidelines to help you think through your proposal to Cardano Catalyst, feel free to add anything else that will clarify your requested funding and help the people voting on your proposal fully understand the proposition.

 

Thank you for reading and good luck with your proposal!

 

Requested funds in USD 5000000

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