thanks for taking the time to read the proposal and provide your great Input!
a) Let me provide more details, Berlin is one of the most expensive cities for rental housing in Europe, a year-on-year price increase of nearly 40 percent for just one-bedroom apartments. Same for Offices. Office costs will always be one of the main expenses.
A smaller office average costs for the team, with room for courses + 1-2 more Incubation Teams, is around $30k. Everything similar, we can secure for a lower price, will be only adding to our operation time with the proposed budget.
As you've mentioned, it is a very good idea to start with a smaller office and scale up depending on demand, so the office budget could very well cover over 18+Months of office rent costs and with coming revenue this will increase until reaching self-sufficiency.
The outlined costs in the proposal, is where we see this initiative getting within the first 12 Months of operation.
It is important to have the liquidity on-hand when needed to scale immediately.
b) Regarding marketing costs, the developers and Teams we are targeting are in Berlin. It will be a local marketing with mainly In-person efforts on Events and networking. The Sales team does only need a salary and no marketing Budget to reach out to potential Partners worldwide.
To add, I won't be getting any salary, only $1 each month symbolically, until we reach full financial sustainability.
This is to show our dedication for the XDC Network and that I fully stand behind the potential of this proposal.
Marketing and advertising on influential local key developer platforms is a lot more cost-effective than a global marketing outreach.
Berlin is a Blockchain "Powerhouse".
Following, you can see a list of some of the upcoming Blockchain events in Berlin.
Most are free of cost to attend, and advertising / sponsoring is very low cost compared to global events. eventbrite.de/d/germany--berlin/bl... . Our biggest asset for advertising will be the Incubation program.
This is a big asset to local Blockchain Event organizers too, and it's worth more than just sponsoring the events, that's why we see the marketing Budget as sufficient for this effort.
c) We are planning for future Hackathons, but just not with Budget from XF or just minimal for the next one. We want to encourage Industry participation, sponsorship and innovation partnerships + talent recruitment funnel for interested parties. All three are commercialized efforts. Due to this fact, we haven't planned a budget for Hackathons from XF because we are certain that we won't need it after the next Hackathon.
d) the $500k funding for L2 projects will be locked and stay under XDC Ecosystem Development Fund custody. It will be partially requested for strategic investments in startups (with a working MVP) which were incubated by the GDCE in our office in Berlin. We won't have any access to the funding.
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Hey Billy,
thanks for taking the time to read the proposal and provide your great Input!
a) Let me provide more details, Berlin is one of the most expensive cities for rental housing in Europe, a year-on-year price increase of nearly 40 percent for just one-bedroom apartments. Same for Offices. Office costs will always be one of the main expenses.
A smaller office average costs for the team, with room for courses + 1-2 more Incubation Teams, is around $30k. Everything similar, we can secure for a lower price, will be only adding to our operation time with the proposed budget.
As you've mentioned, it is a very good idea to start with a smaller office and scale up depending on demand, so the office budget could very well cover over 18+Months of office rent costs and with coming revenue this will increase until reaching self-sufficiency.
The outlined costs in the proposal, is where we see this initiative getting within the first 12 Months of operation.
It is important to have the liquidity on-hand when needed to scale immediately.
b) Regarding marketing costs, the developers and Teams we are targeting are in Berlin. It will be a local marketing with mainly In-person efforts on Events and networking. The Sales team does only need a salary and no marketing Budget to reach out to potential Partners worldwide.
To add, I won't be getting any salary, only $1 each month symbolically, until we reach full financial sustainability.
This is to show our dedication for the XDC Network and that I fully stand behind the potential of this proposal.
Marketing and advertising on influential local key developer platforms is a lot more cost-effective than a global marketing outreach.
Berlin is a Blockchain "Powerhouse".
Following, you can see a list of some of the upcoming Blockchain events in Berlin.
Most are free of cost to attend, and advertising / sponsoring is very low cost compared to global events. eventbrite.de/d/germany--berlin/bl... . Our biggest asset for advertising will be the Incubation program.
This is a big asset to local Blockchain Event organizers too, and it's worth more than just sponsoring the events, that's why we see the marketing Budget as sufficient for this effort.
c) We are planning for future Hackathons, but just not with Budget from XF or just minimal for the next one. We want to encourage Industry participation, sponsorship and innovation partnerships + talent recruitment funnel for interested parties. All three are commercialized efforts. Due to this fact, we haven't planned a budget for Hackathons from XF because we are certain that we won't need it after the next Hackathon.
d) the $500k funding for L2 projects will be locked and stay under XDC Ecosystem Development Fund custody. It will be partially requested for strategic investments in startups (with a working MVP) which were incubated by the GDCE in our office in Berlin. We won't have any access to the funding.