Hi All -
I wanted to open a discussion around creating a Venture Capital style program for CPS.
We have a robust and decentralized grant system on ICON, but few pipelines to recruit teams from outside the ecosystem. For this reason, I believe CPS would benefit from a team that can actively go out and recruit builders and market success stories to the wider blockchain community.
A potential structure for this project / organization:
-
Associate (2): Searches for development teams, fields pitches and builds recruitment pipelines through their personal network, social media platforms and dev ecosystems.
-
Analyst (1): Helps teams curate their proposal before applying to CPS. Researches potential use cases and develops strategies to attract talent to build them.
-
Marketer (1): Creates media around successful CPS projects and runs ad campaigns.
-
Incentive Program: [EDITED] Referring community members receive a 2% reward for successfully completed CPS projects. This will incentivize all ICONists to recruit and onboard projects themselves.
A potential recruitment pipeline:
-
Team organizes a Hackathon (in-person or virtual), partnering with Universities, Blockchain Clubs and CS departments.
-
Team schedules Min Kim, TJ and a celebrity Crypto Influencer to judge projects.
-
Winning teams get $7.5K, runners up $2.5K.
-
Associates then reach out to teams and try to get them to build out their project longterm. Analysts help prepare them for CPS grant process since there’s a bit of a learning curve. Marketer documents the event and blasts it on socials.
-
Ideal outcome: cement ICON and CPS as a path to building on Web3 for university programs that are consistently pumping out new builders and entrepreneurs.
To recap, I believe we should consider:
-
Creating a CPS Venture Capital Fund to scout teams and recruit builders onto ICON
-
Offering a 2% reward to ICONists that have referred a successful CPS project
This is just an early concept for what a VC style CPS fund could be. I am interested in creating a CPS proposal to test pilot the idea. If successful, we can bring it to the Foundation to potentially incorporate it into the longterm CPS infrastructure.