RFC - Incubation Program by Blockchain Innovation Hub

Hello Community,

I am pleased to introduce the Blockchain Innovation Hub (https://bih.com.ng), a product of ORX Solutions Limited (https://orx.ng). We specialize in blockchain incubation and shared workspace services in Nigeria. Below is a picture of our space in Ibadan, Nigeria.

We are seeking feedback on a proposed hybrid incubation program for blockchain product development in Africa. The program aims to facilitate collaboration among native builders and launch their products on Celo. It will run for six months and involve 32 participants with prior experience in product management, software development, and related fields. Participants will work in teams to build eight different products.

At the end of the program, a competition will be held to determine the top three teams. Members of these teams will receive $5k, $3k, and $1.5k, respectively, while the remaining participants will receive $500 each plus cloud credits. Additionally, $3k will be paid to consultants and technical support experts during the program, totaling $15k.

Budget table:

Item Cost
Competition prizes $12,000
Management Expenses $3,000
Total $15,000

Benefits to the Ecosystem:

  • Increased number of builders
  • More innovative solutions

Below are answers to some questions readers might have in mind:

  1. Why not a hackathon?

Unlike a hackathon, this program is designed to provide more long-term support to builders and help them develop sustainable products.

  1. How will the program measure its success and impact?

During the incubation program, participants will develop solutions that address real-world challenges in ReFi, logistics, and other related areas.

  1. Why is the duration six months?

As highlighted above, the program is designed to produce usable products. The longer time frame will ensure that we can deliver quality.

  1. How do we ensure the security of the proposed funds?

To ensure trust and transparency, apart from the program management expenses, other funds will only be made available once the products have been fully launched on Celo.

Month Milestone
1st $500
2nd $500
3rd $500
4th $500
5th $500
6th (final) $500 & $12,500
  1. How will participants be selected for the program?

We will select people with prior experience in product management, software development, and related fields to increase our chances of success.

  1. What will be our success metric?

The success metric will be the number of usable products launched on Celo by program participants, as well as any other positive impact on the ecosystem resulting from the program (e.g., number of people using the product, number of new users onboarded into the ecosystem).

Please leave your suggestions and questions.

5 Likes

First, congratulations for your Blockchain Incubation shared workspace.

I think the amount you’re asking is fair and reasonable and also given your expertise and experience with Celo, I’m confident you have in interest the best for Celo ecosystem.

I think this is a better proposal for the Celo Africa DAO than the Celo Community Fund. Back at the beginning of this year, Celo Africa DAO proposal passed and if I’m not wrong in their proposal there was also an accelerator/incubation camp point. I would suggest you consider partnering with them and put up a proposal with Africa DAO, and I’ll be more than willing to vote in favor :slight_smile:

5 Likes

Thank you very much @0xGoldo. The proposal is meant for the Celo Africa DAO but I feel it would be better to make this an open discussion and get feedback before proposing.

3 Likes

The is a really innovative idea! I’m really excited to see how things play out.

2 Likes

Fully agree with @0xGoldo

You should try to submit this to the Celo Africa DAO focusing on this acceleartor/incubator scope they have Celo Africa Regional DAO Proposal - #50 by Khadeeejah

Tagging here some people of the Celo Africa DAO for letting them know about your proposal @Aliu @Allen-Muhani @Baale7 @chuta would be nice if some of you folks helps @iamoracle moving forward with this initiative and engage with you folks in the DAO.

-Telegram Group: Telegram: Contact @CeloAfrica

1 Like

Thank you, @juanjgiraldoc, for your reply and for tagging the appropriate people. After discussing with the Celo Africa DAO Lead, @Aliu, and carefully analyzing the Celo Africa DAO proposal, I realized that the DAO also has an incubation program, which runs for a shorter duration of 6 weeks compared to our 6-month program. However, their proposal does not mention support for incubation programs like the ones we offer at Blockchain Innovation Hub. There is no budget allocated for this purpose.

Furthermore, while the main aim of the Celo Africa DAO is to onboard existing Web2 projects, we seek to onboard new products. As @Khadeeejah mentioned in another revision, it would be great to work with the Celo Africa DAO in other areas, but it might be difficult for them to financially support our program.