Tldr:
CIP-111 DAOLabs Space in Denver, CO has progressed to a point where:
- We have a draft sublease with Cirrus MD for space in the Catalyst building in Denver from February 14, 2023, to December 31, 2023.
- We have partnership conversations in progress as well as a roadmap for Launch at ETH Denver.
- We have an updated space design & usage plan and are working on securing space management resources.
- We have a design of a space management system with wallet issued passes.
To plan for a successful launch and MVP, however, we will need additional funding for the following reasons:
- As strongly suggested by members of the Denver web3 community as well as CityDAO members based in Denver, we pivoted from the original space in downtown Denver to a new (and slightly more costly space) in the RiNo district. This location has multiple advantages over the first space such as proximity to ETHDenver and the web3 hub of Denver, building amenities, and additional co-working space for CityDAO Labs Users who wish to continue to work onsite after their program is over!
- We would like to clarify the space usage for CityDAO Citizens as the concept has evolved since the original CIP.
- To re-emphasize the importance of CityDAO in this project, the name of the project is formally changed to CityDAO Labs.
- We are asking for authority to collect funds on the behalf of CityDAO Labs through fees and sponsorships as well as the autonomy/discretion for the CityDAO Labs Project Team (Multi-signature) to utilize such funds to make improvements to CityDAO Labs operations, future spaces, and/or for compensation for CityDAO Labs team members.
- We are asking for authority to explore whether CityDAO may take equity positions in projects that go through incubation at CityDAO Labs.
- This CIP will authorize for the team members to either sign or delegate authority to sign the lease. And to file for Colorado authority for CityDAO, LLC (and reg’d agent engagement). Or delegate to Scott F or find an attorney and execute limited scope Power of Attorney.
- We are asking for the ability to modify non-material components of the CityDAO Labs space operations and design as laid out in this proposal. e.g. change the # of weeks in each stage of the incubator program.
What is CityDAO Labs?
CityDAO Labs is an incubator for founders working on web3 and blockchain projects. The space is designed to foster innovation and collaboration among its members, focusing on discovery, networking, and project development.
The mission is to support the development of new projects and bring them to fruition by connecting founders with the mentorship and resources they need to grow their projects. We seek to create an ecosystem that supports the growth and development of web3 and blockchain projects while fostering a community of innovation, learning and collaboration.
We are offering a location to work, hackathons, a curriculum and advisors in return for the ability to invest in, either through sponsorships or direct investments, some of the most promising new web3 projects.
How is the space organized?
The space will be broken down into discrete sections where members will spend their time.
| Space | Purpose & benefits. | Qualification from previous step | Graduation Trigger | Funding | Time |
|---|---|---|---|---|---|
| Discovery | Educate & introduce Web3 concepts. | Approved application & pay for a pass or Citizen under certain conditions | Self selection | Partially through payment from founders, rest from CityDAO Labs. | Unlimited, pending space, CityDAO Labs can reserve spots based on applications. |
| Networking | Meet with other founders to form bonds and create a project team. | Self selection | Successful project application | Partially through payment from founders, rest from CityDAO Labs. | Unlimited, pending space, CityDAO Labs can reserve spots based on applications. |
| Brainstorm | Work with your co-founders on clear pitch & customer validation for your project. Use space for free & access to advisors, sponsors & curriculum. | Link with at least 1 other person to create a project team and project idea accepted by CityDAO Labs | Pitch competition | Space usage funded by CityDAO & Sponsors. | 4 Week cohorts, every 4 weeks there is a pitch competition at the end of which a new application is needed. |
| Projects | Work with your co-founders on MVP for your project. Use space for free & access to advisors, sponsors & curriculum. | Selection in pitch competition. | Demo Day | Space usage & some project expenses funded by CityDAO & Sponsors. | 12 Week cohorts, at the end there will be a demo day with investors |
| Graduate to Catalyst Coworking space (or other coworking / office space) | Get $’s invested. | All projects leave space after 12 week cohort. | N/A | Investors & Sponsors | Unlimited |
Space Layout
Partnerships in progress:
| Partner | Status | Details | Next Steps |
|---|---|---|---|
| NY Tech Alliance | Lead | Talked with them, interested | Follow up discussion on collaboration. |
| Near Protocol | Lead | Discussed but want to see further action before involvement | |
| Chainlink | Lead | Discussed but want to see further action | |
| Moralis | Backlog | Not contacted | |
| EmpireDAO | Contacted | Set up a meeting with Mike to discuss | |
| Electric Capital | Backlog | ||
| Paradigm | Backlog | ||
| Momentum 6 | Contacted | ||
| Crytporado | Lead | Very interested in collaboration, waiting on space to confirm. | Draw up potential partnership agreement |
| EthDenver | Lead | Interested in collaboration, waiting on space to confirm. | |
| Denver University (UD) | Lead | Have a contact through cryptorado | Get the contact and discuss agreements |
| Remix | Backlog | Not contacted | Reach out with deck and partnership proposal |
| Polygon | Contacted | Discussed, interested | Present updated deck with direct asks |
| Ledger | Backlog | Not Contacted | |
| Trezor | Backlog | Not Contacted | |
| Backlog | Not Contacted | ||
| Oracle | Backlog | Not Contacted | |
| Ubiquity | Contacted | No response | Follow up |
| buildspace | Backlog | Not contacted, really promising partner | Contact ASAP |
| DAOLens | Backlog | Not contacted | |
| BlockSoc | Backlog | Not Contacted | |
| DeWork | Backlog | Lonis | Follow up ASAP |
| Utopia | Backlog | Kaito | Contact about partnerships |
How does someone come to access the space?
Selection and funding flow through the space:
- Anyone can submit an application to become part of the incubator program.
- Citizens and those who are accepted can pay for time in the discovery & networking portions of the space pending there are open spots. CityDAOLabs will reserve spots based on applications for a certain amount of time.
- Once a founder has joined with at least one other founder to form a project team, they submit it to CityDAO labs for approval. If they get approval, they move to the project area for a 4 week sprint to work on customer validation and a pitch. At the end of that period there is a pitch competition where they can win a grant and further access to the space. At this point onward, they are no longer paying for access, its funded by sponsors or investors.
- Approved project teams then have 12 weeks to develop their MVP and gear up for a final “demo day” with investors and sponsors to get investments and grants at which point they will graduate from the space.
Who will be using the space?
The CityDAO Labs program is for approved founders who are working on web3 and blockchain projects. To participate in the program founders must first apply and be accepted. CityDAO Citizens may access the Discovery & Networking portions of the space for free for the first 90 days following the launch, while non-citizens must have a successful project application. This space is designed to foster collaboration and innovation among its members and provide a dedicated environment for projects to learn and network, and grow. The purpose of this space is to support the development of web3 and blockchain projects and bring them to fruition.
CityDAO Labs is not open to anyone who wants to use the space, and a process for application and acceptance must be followed.
To participate, individuals and teams must first apply and be accepted based on their projects and how well they align with the mission and values of CityDAO Labs. This process ensures that only those who are working on relevant and innovative web3 and blockchain projects can use the space and benefit from the resources and community provided. Not everyone who applies will be accepted, this is to maintain the quality of projects and the community within CityDAO Labs.
In addition, members will be moved through a program that will “graduate” them out of the space. This will happen either if they project does not continue or if the project receives funding to continue further. At this point, project teams will be looking for a permanent space and may choose to rent one from Catalyst in the co-working or other areas of the building.
Why would founders participate in our incubation program?
CityDAO Labs believes users will gain several benefits, including but not limited to:
- Resource availability for learning and development
- Access to the broader web3 community and leadership
- Access to potential deals with partners & sponsors
- Access to investors
Lean Canvas
| Problem
3 Sides:
- The Builders and members in Web3 have no place to incubate their projects other than discord and online communities.
- Web3 companies have a hard time finding good talent.
- Sponsors have a hard time finding good web3 projects to invest/participate in. | Solution
A physical space where builders can easily learn, meet, network, hack, solve problems together, build products, and get funding. | Unique Value Proposition
3 Sides:
- Only place to meet other web3 builders & find a web3 project get paid on.
- Best place to find web3 talent to hire.
- Best place to find web3 companies to invest in. | Advantage
CityDAO funded & community bootstrapped | Customer Segments
- LEARNER: Web3 curious and looking to learn and jump in.
- PRACTITIONER: Software engineers or web3 builder looking for projects.
- EXPERT: Established web3 companies looking for talent.
- FUNDER: Sponsor looking for opportunities to invest, expand/fund |
| — | — | — | — | — |
| Existing Alternates
Online communities
Conferences
Web2 incubators | Key Metrics
- % occupancy of incubator program
- New Citizens
- Projects in the space
- Events Held
- Funds deployed | High Level Concept
City and social focused, web3 incubator | Channels
-
web3 media outlets
-
Cryptorado
-
ETHDenver
-
CityDAO channels
-
Member hosted events in the space | Early Adopters
-
CityDAO Citizens
-
Cryptorado
-
ETH Denver participants and stewards
-
web3 participants in Denver |
Budget Requested:
- CityDAO Labs Director - $100,000 (This role can also be the CityDAO administrator or secretary as laid out in discord discussions and a few recent CIP proposals)
- This person will physically work full time in the space in Denver and have responsibilities including but not limited to:
- Managing & compiling CityDAO Labs incubator program including founders, sponsors, and investors.
- Reporting to, and acting under the direction of, the CityDAO Labs Project Team.
- Presence in the space to deal with day to day issues.
- Scheduling and managing events.
- Enforcing space rules.
- Educating members about usage of space and available resources.
- Tech support & troubleshooting.
- Greeting people and general community management including supporting connections within the space.
- We will run a open application process for this role and it will be selected by the CityDAO Labs team. It will not be one of the current members of the CityDAO Labs team.
- This person will physically work full time in the space in Denver and have responsibilities including but not limited to:
- Additional space cost - $37,500
- Additional CityDAO team compensation - $30,000
- The team has put in significant work to get us to the point of having a lease to be signed and expect to put more work than expected in going forward due to the nature of the model of the space, specifically on:
- Reviewing and responding to applications
- Recruiting director, participants, advisors, sponsors & investors
- Design and overseeing pitch competitions and materials for the space curriculum.
- The team has put in significant work to get us to the point of having a lease to be signed and expect to put more work than expected in going forward due to the nature of the model of the space, specifically on:
- Additional misc. expenses - $25,000
Request Additional Total: $192,500
Team:
- Lyons - Project Lead
- Josh - Real Estate and Admin
- Konrad - Operations Advisor