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Bootcamp for New Founders to Validate Startup Ideas #310

Closed Albert-Present closed 1 year ago

Albert-Present commented 2 years ago

Tentative Name: Stacks Incubator (Web3 Startup Bootcamp)

Startup founders who want to build on Stacks need to validate their startup ideas. As a Lean Startup mentor for Stacks Accelerator, the program is designed to take already validated startup ideas and help them integrate with Stacks tech and raise funds.

There are many talented developers who want to build a product in web3 but are not able to go full-time yet. They are currently employed and need a way to get started on their ideas during nights and weekends before they feel confident going all in. In addition, many high potential teams may be rejected by Stacks Accelerator because they are too early and have not yet validated their ideas and markets.

The Stacks Incubator will run a 8 week intensive Lean Startup bootcamp to take new founders and teams from idea to validated concept, so that they can apply to the Stacks Accelerator or Stacks Foundation knowing they have real customer demand for their products.

This grant is intended to fund our pilot with 10 plus high potential teams and allow us to explore creating a Startup Education DAO or Startup Fund to enable a sustainable pipeline of early entrepreneurs into the Stacks ecosystem and connect them with both the Accelerator and Foundation.

Background:

What problems do you aim to solve?

  1. Stacks ecosystem has many high potential teams who do not qualify for acceleration or investment because they have not yet validated their customer and market.
  2. These teams are not familiar with Lean Startup and do not have the right mentors to coach them and help them figure out how to pivot their ideas to a viable solution.
  3. There are many people in Stacks community who need a lower friction entry-point (e.g. night and weekends instead of full-time) for starting their own business or joining a startup, they don’t have the right background or knowledge to get started and need training.
  4. There is a lack of educational resources specifically for how to do go-to-market and Lean Startup in the Web3 industry.

How does it serve the mission of a user owned internet?

The Stacks Incubator would help accelerate the Stacks ecosystem with more of the right founders, developers, investor funding, and users from the products and services built by these startups. We believe all of this will serve to achieve the mission of a user owned internet.

With the speed at which the other leading web3 and blockchain communities are evolving, we feel the urgency to create an effective and sustainable solution, to help the right founders who believe in our Stacks ecosystem and mission, to achieve productivity faster so that we can build a solid foundation to one day become the leader in the user owned internet.

Project Overview

What solution are you providing?

Our solution is to take our existing 8-Week Pre-Accelerator program, iGenesiis, which has already run 20 cohorts and trained nearly 200 founders/teams on Lean Startup and Business Model Generation and modify the curriculum to match the needs of Web3 founders in the Stacks ecosystem. We aim to train 10 teams for our pilot run.

Meanwhile, we will explore building a Startup Education DAO on Stacks, which we hope to scale up to train 50 founders/teams per cohort to ready them for the main Stacks Accelerator. We believe with the right collaboration, resources, and enough time to grow, at full scale we could train 300 startup teams per year to help enable the Stacks ecosystem to become the leading web3 blockchain.

Who will it serve?

  1. Determined developers and founders who are full-time employed at top companies but want to start their own web3 business on nights and weekends before they jump in full-time.

  2. Innovative developers and founders just starting out with an idea who are not ready to raise funds.

  3. High potential teams who were rejected by Stacks Accelerator because they need to validate their customer and market.

Scope

What are the components or technical specs of the project? What will the final deliverable look like?

  1. Tailored SOP (Standard Operating Procedure) for Stacks Incubator, Web3 Startup Bootcamp
  2. Tailored SOP of application and onboarding process
  3. Tailored class materials and tools
  4. Tailored class videos
  5. Legal documents
  6. Curated reading list of must-read startup books
  7. 10 plus trained startup founders/teams

How will you measure success?

  1. The number of startup teams that get admitted into the main Stacks Accelerator (first target is 25% admittance rate)
  2. The number of startup teams that successfully are given a grant from Stacks Foundation (first target is 40%)
  3. Proof of concept for the Startup Education DAO or Startup Fund
  4. In the future, we will measure our success by the number of successful companies that are built with Stacks technology and the total number of new founders, developers, innovators, investors, and users that become part of the Stacks ecosystem.

Budget and Milestones

What grant amount are you seeking? How long will the project take in hours?

Total Grant Request: $50,000 (About 1000 hours)

First Cohort = 10 plus teams Cost Per Team (2 months) = less than $5,000 We are able to reduce the cost thanks to time, support, and contribution from Stacks Accelerator.

Summary of Project Milestones & Costs 2022 (March - July):

M1: 1st week 100 hours · Tailored Design the Framework of the Market Validation Bootcamp 8-week startup training program · Tailored Class outline materials and tools · Onboarding Application Form · Contact mentors & guest speakers · Sign-up for Zoom video conferencing & other SAAS memberships

M2: 2nd week 80 hours · Build class materials and tools · Review of Applications, · Interviews, · Sign Contracts, · and Onboarding

M3: 3rd week 80 hours · Build class materials and tools · Review of Applications, · Interviews, · Sign Contracts, · and Onboarding

M4: 4th week: Kickoff Market Validation Bootcamp 90 hours · Week 1: Zoom in on market entry point, market research, lean startup process + Stacks ecosystem overview. · 3 live classes/workshops · Responding to Q&A of cohort and guest speakers · Mentoring sessions · Record & Edit Videos · Post highlights on social media to build awareness, attract future cohorts, investors, and contributors.

M5: 5th week 90 hours · Week 2: Zoom in on Customer interviews + Stacks network resources. · 3 live classes/workshops · Responding to Q&A of cohort and guest speakers · Mentoring sessions · Record & Edit Videos · Post highlights on social media to build awareness, attract future cohorts, investors, and contributors.

M6: 6th week 80 hours · Week 3: Zoom in on Channel development + Continue customer interviews + Stacks user owned internet business models part 1 · 2 live classes/workshops · Responding to Q&A of cohort and guest speakers · Mentoring sessions · Record & Edit Videos · Post highlights on social media to build awareness, attract future cohorts, investors, and contributors.

M7: 7th week 80 hours · Week 4: Zoom in on Best product solutions research + Continue customer interviews + Stacks user owned internet business models part 2 · 2 live classes/workshops · Responding to Q&A of cohort and guest speakers · Mentoring sessions · Record & Edit Videos · Post highlights on social media to build awareness, attract future cohorts, investors, and contributors.

M8: 8th week 80 hours · Week 5: Zoom in low-tech/quick product validation + Stacks technology innovation possibilities · 2 live classes/workshops · Responding to Q&A of cohort and guest speakers · Mentoring sessions · Record & Edit Videos · Post highlights on social media to build awareness, attract future cohorts, investors, and contributors.

M9: 9th week 80 hours · Week 6: Zoom in on co-founders/core team development + Stacks channel resources + Prepare for Stacks Accelerator application · 2 live classes/workshops · Responding to Q&A of cohort and guest speakers · Mentoring sessions · Record & Edit Videos · Post highlights on social media to build awareness, attract future cohorts, investors, and contributors.

M10: 10th week 80 hours · Week 7: Zoom in on presentation of validated market entry point, extreme early adopters, product validation, web3 business model, and where Stacks technology comes into play. · 2 live classes/workshops · Responding to Q&A of cohort and guest speakers · Mentoring sessions · Record & Edit Videos · Post highlights on social media to build awareness, attract future cohorts, investors, and contributors.

M11: 11th week 80 hours · Week 8: Work on final deliverable + Present to Stacks Accelerator Team · Internal pitch to Stacks Accelerator for selection · Handoff best founders/teams to main Stacks Accelerator · Interview entire cohort one-by-one to get feedback to improve for next time · Iterate and improve SOPs and training curriculum · Post highlights on social media to build awareness, attract future cohorts, investors, and contributors.

M12: 12th week 80 hours · Continue improving on SOPs and training curriculum · Polish all SOPs, documents, materials, and videos · Share key results and educational videos with Stacks community · Post teasers and key points on social media to build awareness to attract future cohorts, investors, and contributors.

M13: 13th week · Proof of Concept for Market Validation Bootcamp achieved! · Begin Business Plan for Startup Education DAO. · Eventually apply for another Stacks Grant to help seed the groundwork for Startup Education DAO Grant Amount of Total: TBD for next grant proposal.

After the pilot run, our plan is to scale the number of cohorts we run in parallel. The next goal would be to run 2 cohorts in parallel and keep adding until we can train 30 startup teams at a time and then keep scaling so we could potentially train 50 or more at a time.

Team

Who is building this?

We are all believers in the Stacks mission to create a user-owned internet.

Albert Liang: Founder of iGenesiis Group, longest running pre-accelerator in Shanghai. Chief architect of iGenesiis startup curriculum – a creative combination of different startup systems. Program director of 20 cohorts. Originally from California. Started career in Silicon Valley as a software engineer at a startup company and getting back into through Stacks Clarity Language.

Albert has also run Lean Startup workshops with Trevor Owens. Currently work closely with Stacks Accelerator team serving as a mentor for Cohort 2. (A big shout out to Trevor Owens and Grace Ng for helping us launch iGenesiis Group!)

SunnyL: Co-founder of iGenesiis Group. Brilliant at making difficult things easy to learn. Co-Program Director of 17 cohorts. Startup mentor and coach. Serial entrepreneur.

BellaT: Super designer, multitasker, and team player. Instrumental in assisting the smooth operation of our pre-accelerator.

EricL: Currently at BCG Digital Ventures. Currently serving as a mentor for cohort 2 of Stacks Accelerator. Has also mentored for several iGenesiis pre-accelerator cohorts. Previously a startup founder. Staunch supporter of innovation and startup founders.

What relevant experience do you bring to this project?

  1. Proven track record of Program Director for pre-accelerators
  2. Proven track record of creating startup training programs
  3. Hands on coaching of startup founders from idea to over 10 million revenue

For the next step in creating the Startup Education DAO or Startup Fund (specifics TBD) I will work alongside the team to make this goal a reality and by leveraging the following skills:

  1. Software engineering
  2. Strong at networking for bringing on the best content creators and startup mentors
  3. Marketing, sales, & fund raising

My previous experiences gives me the foundational skills to lead this project and create a sustainable and scalable incubator. In the future, we will research which solution would be best to complement the incubator. We are thinking either a Startup Education DAO or a Startup Fund, but we first launch the pilot before we dive into this.

Are there skill sets you are missing that you are seeking from the community?

It would be great to get any support we can. In terms of the specific kind of support we need from the community, we will have a better idea of that after we go through the Stacks Accelerator materials, discuss with Trevor Owens and his team, and see what we are missing in terms of domain experts, tokenomics, and PoX based business models or anything else entrepreneurs need to get ramped up for the accelerator.

In the near future, after the pilot run of the Stacks Incubator, we will need support from the Stacks community to create the Startup Education DAO or a Startup Fund. In addition to enrolling our team to the Clarity Coding Camp, we eventually will need more software developers, startup mentors, evangelists, and investors who all share in the Stacks mission of creating a user owned internet.

Risks

What dependencies or obstacles do you anticipate? What contingency plans do you have in place?

  1. We will be dependent on the Stacks network to make this work, but with our experience and know how in creating pre-accelerators, we see this dependency as a mutual advantage rather than a risk.

  2. I am currently running the iGenesiis Group Pre-Accelerator / Market Validation bootcamp programs. This takes up a fair amount of my time, but as we are making things more automated, I would be able to turn over daily operations to my co-founder and team so I can focus more on creating the pilot program of Stacks Incubator and then the Startup Education DAO.

  3. Currently, I am in a different time zone from USA. This means that in the beginning, we can only do maximum 3 cohorts at a time. However, if need be, I am prepared to relocate back to the USA to spearhead and accelerate the Startup Education DAO and Startup Fund.

  4. Since founding iGenesiis Group, it has always been my goal to bring the world together through kindness, collaboration, and innovation. I believe now is the right moment by becoming part of the Stacks Ecosystem and mission of creating a user owned internet! We will play our part by making innovation and startup education accessible to all who wish to build meaningful and sustainable products and services on Stacks.

Community and Supporting Materials

Website: www.igenesiis.com

Pictures of Talks, Classes and Events image image image image image image image image image image image

Albert Liang Lecture Pictures

image image image image image

stx-grant-bot[bot] commented 2 years ago

Thanks for submitting a grant proposal. Our team will review your submission and get back to you.

owenstrevor commented 2 years ago

I would love to see this become a reality and the Stacks Accelerator will get fully behind this. This initiative should help expand the talent pool for both Stacks Accelerator investments and Stacks Foundation grants. I've known and collaborated with Albert for about half a decade. He's an excellent coach and Lean Startup mentor.

tycho1212 commented 2 years ago

This solves a real problem! Count me in. I'm currently building a DeFi protocol on Stacks and we see opportunities to build new protocols weekly based on our & the community's needs. I often try to steer builders in the direction of these opportunities but there's limited time when also building - a programme would be great

cuevasm commented 2 years ago

Hey team, definitely think this is generally a good idea and really appreciate the detailed application!

I'd like to dig in on the measures of success a little more, here are my thoughts:

In the future, we will measure our success by the number of successful companies that are built with Stacks technology and the total number of new founders, developers, innovators, investors, and users that become part of the Stacks ecosystem.

Keying on 'new' here per the last bullet above. I think this is really important - would love to see the program source folks truly new to the ecosystem. Also, why not start with these 'future' metrics right away, even if rudimentary? I don't see a reason a clear reason not to and I think these are the heart of what demonstrates the efficacy of a program like this.

A few other points

Great to meet you and I know I asked a lot of questions, but that doesn't mean I'm not supportive and excited.

Thanks!

Albert-Present commented 2 years ago

This solves a real problem! Count me in. I'm currently building a DeFi protocol on Stacks and we see opportunities to build new protocols weekly based on our & the community's needs. I often try to steer builders in the direction of these opportunities but there's limited time when also building - a programme would be great

Hi Tycho!

Thank you for your encouragement and enthusiasm in our project! We are doing community member interviews to learn more about what people need. Any kind of opportunity to speak with you or the builders you work with would be very helpful! Would it be possible to set up a call so we can learn from insights into the challenges you or others face?

Albert-Present commented 2 years ago

Thank you Mitchell!

Great points and insights! You certainly have given us a lot to think about. I am working on a more detailed reply and also thinking about how to integrate the points you outlined into our grant proposal.

Albert-Present commented 2 years ago

Hi Mitchell!

Again, thanks for all the great points, questions, and insights! You bring up many salient points. Could we set up a call so that I can learn more about how we can work together to make the pilot program a big success?

In general, I believe we need to address all points that you mentioned. The challenge is when and how we will realize each of the points mentioned for the purpose of making an incubator solution that will become an asset to be leveraged to help realize the mission of a user owned internet. Please see below on one possible version of how all the points you mentioned could come to fruition:

Phase 1: Pilot Run for Stacks Incubator

Phase 2: Growth, Sustainability, and Excellence

Thanks again for the great points!

Your points and involvement are much welcome and will definitely help make all of this a reality!

Looking forward to moving things forward!

Albert

will-corcoran commented 2 years ago

@Albert-Present thank you for your application and for so fully engaging in the review process. We are going to approve this grant! We all feel the pre-accelerator / incubator fills a critical gap in the existing support mechanisms (between grants and accelerator). I will send out an invite for mid-April so we can connect then and get a progress update / strategize about how to best align your efforts with others in the ecosystem. This is very exciting. We wish you all the success and hope to see this scale in the future. Best, Will

stx-grant-bot[bot] commented 2 years ago

Congratulations. Your grant is now approved. Please complete the on-boarding link here: https://grants.stacks.org/onboard?q=76b4ec132e3a65ab34099cc54b246cf2

Albert-Present commented 2 years ago

@Albert-Present thank you for your application and for so fully engaging in the review process. We are going to approve this grant! We all feel the pre-accelerator / incubator fills a critical gap in the existing support mechanisms (between grants and accelerator). I will send out an invite for mid-April so we can connect then and get a progress update / strategize about how to best align your efforts with others in the ecosystem. This is very exciting. We wish you all the success and hope to see this scale in the future. Best, Will

Hi Will!

Thank you for approving the grant! Also thank you for the encouragement and support! We are also excited and looking forward to working together to fill the gap between grants and accelerator!

I have received your invite for mid-April. Looking forward to aligning with people in the ecosystem to make this a big success and scale it in the future!

Looking forward to talking again!

Albert

Albert-Present commented 2 years ago

Congratulations. Your grant is now approved. Please complete the on-boarding link here: https://grants.stacks.org/onboard?q=76b4ec132e3a65ab34099cc54b246cf2

Thank you! I filled out the form. Looking forward to building a great pre-accelerator/incubator together on Stacks!

will-corcoran commented 2 years ago

Hi @Albert-Present were you able to sign the contract and onboard OK? I am just checking in because the status of this issue still says 'Sign Contract' and I want to confirm you received your first payment. Thanks, Will cc: @jhammond2012

Albert-Present commented 2 years ago

Hi Will,

Thanks for following up. Yes, I signed the contract on March 21st.

To answer your question, no payment has been received yet.

After I completed the form, I was shown a confirmation page saying, "Confirmed! Let's build something awesome together. We look forward to working with you."

Is this correct? If I missed anything, I can fill it out again today, but I think I need a new link. The previous contract signing link no longer works.

Also, I see the STX price has jumped since, hopefully we can still get the first payment based on when we signed the contract on March 21st pricing of STX?

Albert


From: Will Corcoran @.> Sent: Saturday, March 26, 2022 3:02 PM To: stacksgov/Stacks-Grants @.> Cc: Albert Liang @.>; Mention @.> Subject: Re: [stacksgov/Stacks-Grants] Bootcamp for New Founders to Validate Startup Ideas (Issue #310)

Hi @Albert-Presenthttps://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fgithub.com%2FAlbert-Present&data=04%7C01%7C%7C3424ff7f7eb54c795a4908da0f39a1b2%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637839037465378845%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&sdata=DhNb1zqM3AM9dGU6L6a0qgRTEn72q8oIlkePT2hpoJk%3D&reserved=0 were you able to sign the contract and onboard OK? I am just checking in because the status of this issue still says 'Sign Contract' and I want to confirm you received your first payment. Thanks, Will cc: @jhammond2012https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fgithub.com%2Fjhammond2012&data=04%7C01%7C%7C3424ff7f7eb54c795a4908da0f39a1b2%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637839037465378845%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&sdata=BXDZxkTsrTVzQT5OIqIms%2FFDvmsg05Y3fLQdqoGM6us%3D&reserved=0

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Albert-Present commented 2 years ago

Hi @Albert-Present were you able to sign the contract and onboard OK? I am just checking in because the status of this issue still says 'Sign Contract' and I want to confirm you received your first payment. Thanks, Will cc: @jhammond2012

Just signed grant contract through DocuSign. Did you receive the signed document?

will-corcoran commented 2 years ago

Hello and thank you for participating in the Stacks Foundation Grants Program!

We are in the process of migrating from GitHub to the new Grants Dashboard. In order to complete your grant, you will need to submit any remaining Progress Review and/or Final Review requests through the Dashboard in order to receive your remaining payments.

Lastly, please note we are marking this grant 'closed' on GitHub for organizational purposes, but it is still 'open' on the Grants Dashboard.

Thanks and we hope to continue to support your efforts with additional grants!

Best, Will