In the last two months, we’ve had inspiring conversations with numerous Celo ecosystem organizations who are keen on having a structured mentorship program. Thanks to a generous grant from Prezenti, we’ve already successfully supported 10 Celo projects through mentoring, and now we’re kindly seeking €292,600 in funding to extend our help to 30-50 more over the next 6 months.
Our proposal includes mentorship packages, events, and a Proof-of-Mentorship metric to measure success. We’re deeply committed to long-term sustainability and warmly invite community participation. While we acknowledge the challenges, we’re eager to ensure the effectiveness and engagement of our program. Our ultimate aim is to nurture and empower Celo founders while fostering the growth of the ecosystem. We invite you to join us, give feedback, and support our mission.
Over the past two months, we have engaged in conversations with numerous organizations within the Celo ecosystem and have heard a resounding call for a more structured, deeper, and consistent mentorship initiative.
We have identified a significant gap and an urgent need - Celo founders must find new ways for funding and growth, now more than ever. That’s why we previously approached Prezenti for a grant to support Celo projects (Prezenti Grantees) which was successful and allowed us to kick start activities.
In the current market conditions, most funds and investors are focusing on their existing portfolio and demanding to see traction. We firmly believe that new support is vital to ensure that Celo founders possess the right knowledge and tools for success.
Our journey has strengthened our conviction in the power and necessity of this project, and we, the founders of Mentors Collective (MC), are confident in our ability to deliver a comprehensive mentorship program that will empower Celo founders to achieve their goals.
As such, Mentors Collective is created as a group of veteran business and tech professionals from the Celo ecosystem and the tech industry that are coming together to support founders as they work on their Celo based projects.
Over the past 2 months, we have been providing support to ten Celo founders who are Prezenti grantees. Our efforts have been focused on mentoring sessions and facilitating a founder circle. Our main objective was to connect these founders with experienced entrepreneurs and help them refine their pitch decks and fundraising strategies.
Impact so far:
- Conducted 30 mentoring sessions and received excellent feedback from the founders (with 80 net promoter score).
- Onboarded 10 startups to MC with the support of the Prezenti team.
- Onboarded 17 top notch mentors to MC.
“I am looking forward to the sessions and am eager to learn. Coming from Suriname, not a lot of opportunities exist. Even though I started with a different startup first, I have noticed the need for creating opportunities and paths for those that need it.”
Tim Goudzand Founder ReFi Paramaribo
Elad Mintzer - Made in Israel, minted in Berlin. Former Celo Foundation Ambassador in Berlin, an established Web3 Growth Consultant, and an experienced entrepreneur. Over 10 years experience in tech business development. Elad brings to the table his vast experience in Web3 and tech from previous roles with Celo Camp, DAOstack, Q Protocol and Glory Ventures. Notably, Elad founded LGBTech, an international community for LGBT professionals working in tech and organized several large-scale hackathons including Eth Barcelona Hackathon and EUvsVirus, the European Commission’s official hackathon combating COVID-19, which rallied a remarkable 25,000 participants and 600 mentors.
Sharon Sciammas - 18-year tenure in tech spanning Israel, the US, UK, and the Netherlands, Sharon has lent his expertise to over 70 startups as a product engineer, growth consultant, and mentor. As a co-creator of Europe’s largest in-person Web3 community, W3B Lab, he possesses a wealth of knowledge in growth strategies, go-to-market approaches, and platform design. Lives in Amsterdam nowadays, born in Israel and a father of 3 beautiful kids.
- Prezenti - A pillar of support and knowledge, we’re delighted to introduce Prezenti as our supporter and consultant for MC, following an initial grant MC had received. Prezenti’s reputation within the Celo community is sterling, and their expertise in grants allows us to navigate this journey with an added layer of knowledge and perspective.
- Credit Collective - The Credit Collective is a group of builders and investors dedicated to advancing blockchain-based real-world credit solutions. Following Credit Collective’s success in building a thriving community and its successful $2m budget allocation from the Celo community fund to support credit-related Celo projects, we are excited to collaborate with them to further enhance the Celo ecosystem
- Sam Mirson - Investor, Advisor and Serial Entrepreneur.
- Tomer Warschauer Nuni - Chief Marketing & Business Development Officer ar Pink Moon Studios.
- Patrick Baron - Founder at Moola Market.
- Tolga Dizmen - COO at Talent Protocols.
- Elena Poughia - CEO & Founder at Dataconomy.
- Alex Puig - Founder and CEO at Context Protocol.
- Amir Sciammas - Director Engineering at Adidas.
- David Justin - Founder at Blocktivity.
- Luis Carbajo - CEO at Vottun.
- Reuven Palatnik - Founder at Credit Collective.
- Imran Khan - CEO & Founder at Chosen Family.
- Jeff Pulver - Founder at Pulver.com.
- Nadiem Sissouno - Head of Economics at Mento Labs.
- Roni Gur - BD & Marketing Consultant.
€292,600 for supporting 30-50 projects in the next 6 months.
We will make a final funding request in CELO tokens through this forum discussion, with the precise amount to be determined at that time based on CELO value of the last 3 months before the final proposal publish date).
We are proposing the rollout of specialized mentorship packages that include multifaceted support and bespoke activities. This will foster a dynamic and encompassing mentorship ecosystem, addressing existing gaps, elevating founder capabilities, and enhancing the support structure within the Celo ecosystem. The aim is to provide meaningful and measurable impact to the community.
- Support and amplify the growth of 30-50 projects within the Celo ecosystem over the next 6 months through structured and robust mentorship.
- Position Celo as a supportive ecosystem for founders and projects.
- Create a collective of experienced professional mentors that can support founders as they grow their companies, accelerate their projects and expand Celo’s ecosystem as a whole.
To effectively support founders, we are proposing mentorship packages valued at $2,500 each, which include 10 hours of one-on-one mentorship. Our aim is to create a supportive environment that encourages peer feedback, network building, and cross-pollination of ideas and strategies among founders in the Celo ecosystem.
Packages themes include: Fundraising, Public Relations, Early User Traction, B2B Sales and Go-To-Market.
Why 50 packages? We envision collaborating with fellow Celo ecosystem organizations as distribution channels while extending our mentorship packages to support their founders. In ongoing discussions with Prezenti, Credit Collective, Climate Collective, and regional DAOs, we aim to provide an average of 1.5 packages per project, recognizing that different ventures may require varying levels of support. This strategic approach leads us to work closely with approximately 33 projects, mirroring the size of each Celo Camp batch, which typically consisted of 30-35 projects.
Hosting 6 fast-mentorship events, connecting founders with our experienced mentors in a safe and trusted space. The aim is to ignite the cohesiveness of our community and offer fast, and meaningful advice to our founders.
6 Founder’s Circle events (10-20 founders per event) to foster meaningful connections between Celo founders while providing/getting feedback from fellow founders.
Dedicating 8 hours per week over the next 6 months to facilitate demo days and fundraising roadshows for selected startups to support their fundraising goals. We aim to provide founders with the environment to pitch their projects and strategies in front of investors.
Take Off is a scholarship program initiated by Talent Protocol, designed to offer high-potential individuals a transformative opportunity for growth, learning, and networking within the Web3 community. This program selects a group of 10-15 talented individuals and provides them with access to prominent blockchain conferences, fostering deeper connections within the Web3 space and enabling them to contribute to the growth of their respective projects.
Together with the Take Off program, we aim to create two delegations in the next 6 months aiming to boost the progress of a select group of 10-15 founders in each by providing them with opportunities to attend major tech conferences, organize meetings, and accelerate the growth of their projects.
Simultaneously implementing all of our proposed initiatives and activities is essential to enhance and strengthen the main 1-on-1 mentorship package. While 1-on-1 mentorship sessions form the core of our support, these complementary initiatives play a crucial role in augmenting and enriching the overall mentorship experience for Celo founders.
Speed Mentorship events provide rapid, targeted guidance and a unique opportunity for founders to interact with a diverse group of mentors. This fosters a collaborative atmosphere where founders can not only receive advice from their primary mentor but also compare it with insights from other experienced mentors, enabling them to make well-informed decisions.
Founders Circle operates on a similar principle, encouraging community collaboration within a structured environment. It functions akin to an accelerator batch, where founders actively network and support one another. This collaborative approach enhances the learning experience and empowers founders to navigate the complex challenges they face more effectively.
Demo Days and Roadshows, on the other hand, are instrumental in providing ongoing fundraising opportunities, enabling founders to showcase their projects and strategies in front of potential investors. Simultaneously, Take Off Delegations accelerate the growth of select individuals within the ecosystem by providing them with valuable networking and learning opportunities.
By running these activities concurrently, we ensure that the 1-on-1 mentorship package is fortified with timely advice, peer collaboration, fundraising avenues, and growth acceleration opportunities. This comprehensive approach creates a holistic and robust support system for our founders, increasing their chances of success in the Celo ecosystem.
|50 mentorship packages||€125,000|
|6 founders circle events||€9,000|
|6 speed mentorship events||€9,000|
|Speed mentorship’s mentors compensation||€9,000|
|Online demo days and roadshow (5 hours/week for organization and facilitation)||€12,000|
|2 Take Off delegations (10-15 participants each)||€40,000|
|Online IT tools||€2,500|
|Comms (PR, social media and other original content)||€12,000|
|2 stewardships (8 hours/week)||€54,029|
|Misc (~7% for unexpected, legal and other)||€20,000|
With a wide spectrum of potential projects, our evaluation criteria will encompass:
- Comprehensive understanding of the problem space by the team.
- Team’s capability to deliver and implement the project.
- Alignment of the project with Celo’s values.
- Clarity and feasibility of the overall project proposal. Specificity, measurability, achievability, relevance, and time-bound milestones.
At Mentors Collective, we are committed to ensuring the effectiveness and value of our mentorship program. To measure the success of our mentorship sessions, we employ a systematic approach known as Proof-of-Mentorship (POM). This quantitative metric is designed to assess the impact of mentorship on Celo founders (mentees), providing valuable insights into the growth and development achieved through our program.
Actionable Insights (AI): This component reflects the actionable advice or insights provided by the mentor that the mentee can directly apply to their project. It is measured on a scale of 1 to 5, with 5 indicating the highest level of actionable insights.
Confidence Level (CL): This component gauges the change in the mentee’s confidence level in tackling their specific challenges after the mentorship session. It is also measured on a scale of 1 to 5, with 5 representing a significant boost in confidence.
Mentor Match (MM): This component assesses the relevance and effectiveness of the mentor for the mentee’s specific needs. It measures how well-matched the mentor’s expertise and experience were to the mentee’s project stage and challenges. It is rated on a scale of 1 to 5, with 5 indicating an excellent mentor-mentee match.
Mentor Feedback (MF): This component gathers feedback from mentors, which contributes to the overall assessment of mentorship impact. It is also measured on a scale of 1 to 5, with 5 indicating positive mentor feedback.
Each of these components is given a weight of 25% in the calculation of the POM score:
POM = (0.25∗AI)+(0.25∗CL)+(0.25∗MM)+(0.25∗MF)
We recognize that the importance of these components may evolve over time as we learn and grow, and we remain open to adjusting the weights to continuously improve the accuracy of our mentorship impact measurement. We are dedicated to transparency and pledge to openly share these numbers and their evolution over time with the entire Celo community, fostering trust and accountability in our mentorship initiatives.
As we embark on this journey to provide valuable mentorship and support to Celo founders, we are committed to building a self-sustaining collective that can continue to empower the Celo ecosystem beyond the initial six months. While we deeply appreciate the support from the Celo community, we recognize the importance of diversifying our funding sources. In the future, we plan to explore various avenues for sustainability. These include exploring membership fees, equity or revenue-sharing models with startups, establishing corporate partnerships, offering premium consulting services, and participating in delegation activities like the “Take Off” program.
Our goal is to create a robust and self-sustaining Mentors Collective that can thrive independently while continuing to provide exceptional value to the Celo community. We are excited about the possibilities ahead and remain committed to the long-term success of both our collective and the projects we support.
- Effectiveness - Ensuring mentorship translates to measurable impact and success for founders.
- Engagement - Maintaining high engagement levels among mentors and founders throughout the mentorship cycles.
- Sustainability - Beyond the initial funding, the long-term sustainability of the mentorship program may depend on diversifying revenue sources. Explore potential challenges in securing ongoing support or funding.
Mentors Collective is dedicated to adhering to all legal and compliance norms and will engage in legitimate agreements with all parties involved, ensuring the security and legality of all transactions and interactions.
All the transactions that the stewards will make will be visible on-chain using our multisig address - 0x2AD7D4cf13eBAD2D4e43c680D556E587311dc953.
|Reuven Palatnik (Advisor, Founder at Credit Collective)||0x4A52c2bb39AD3Fbc6F9202f30A916f7dABDDcd3C|
We extend a warm invitation to the entire Celo community to step into this space, share your insights, wisdom, and feedback to refine and elevate this proposal. Together, let’s weave a tapestry of empowered leadership, catalyzing the robust and sustainable growth of the Celo ecosystem.
Your support, insights, and collective wisdom will not just enrich this proposal but amplify the impact we aspire to create across the Celo community. Together, let’s sculpt a future where every founder is supported, every project is empowered, and every initiative is a beacon of light and growth.
We envisage a future where founders are empowered, mentors are enriched by the experience, and the Celo ecosystem thrives with success stories and robust projects.
With an acute understanding of the prevailing gaps and opportunities within the Celo ecosystem, MC is poised to drive tangible, transformative impact through a structured, impactful mentorship program. We seek the support and partnership of the Celo Community Fund to bring this vision to fruition, amplifying the success, sustainability, and impact of Celo founders globally.
Our Website: https://mentorscollective.org/