$100K in Funding and Support Available for Promising Ventures Building on Arbitrum

$100K in Funding and Support Available for Promising Ventures Building on Arbitrum

How can blockchain tools enable better coordination, governance, and community building for decentralized organizations?

That question sits at the heart of an ambitious new partnership between two leading players in the space - ArbitrumDAO and RnDAO. The groups have come together to create the ArbitrumDAO Co.Lab, an entrepreneur support program focused squarely on developing breakthrough "collab tech" solutions utilizing Web3 infrastructure.

After an overwhelming response to their initial call for participants in December 2023, the Co.Lab has now selected six "fellows" from over 100 applicants to receive funding and hands-on mentorship for early-stage ventures aligned with Arbitrum's ecosystem. So what exactly does this package of support look like and what types of projects made the cut?

Hands-On Support from Serial Web3 Founders

The cornerstone of the program is intensive guidance from RnDAO's team of serial collab tech entrepreneurs. The selected fellows essentially gain co-founders who will strategize and build alongside them over the course of the program. This includes assistance setting up company operations, navigating legal and compliance issues, fundraising, hiring talent, and more.

On top of expertise, fellows get access to RnDAO's extensive network of investors, partners, and industry contacts to help accelerate their venture's growth. They also become part of RnDAO's "Swarm" - a cooperative community of modular Web3 companies that share knowledge, marketing, customers, and even ownership.

ArbitrumDAO Backing and Benefits

Besides the hands-on support, the package also contains a direct 50,000 ARB token investment from ArbitrumDAO into each fellow's venture. In addition, they gain visibility and exposure to the Arbitrum user community for customer development and rollout. Fellows can also leverage the credibility of the program to secure additional grant funding down the line.

Criteria for Selection

So what kinds of ventures made the cut to participate in the initial Co.Lab cohort? The published criteria prioritized four core areas:

  1. Alignment with RnDAO's existing portfolio of collab tech products spanning governance, legal, knowledge sharing, compensation, analytics, and operations tools.
  2. An initial serviceable market between $5-100 million that can expand over time. Ventures must have an MVP or proof-of-concept demonstrating traction.
  3. Commitment to build on or integrate with the Arbitrum blockchain infrastructure.
  4. Willingness to embrace RnDAO's "swarm" approach of modular development and cooperative go-to-market across ventures.

The First Collab Tech Fellows

After screening applications and holding interviews in December 2023, six fellows were ultimately selected for the first round of the program:

Isla - Developing investment decision tools and reputation systems for investment DAOs. Brings fintech and grant management expertise.

Humberto - Researching using Web3 for micro-credit and co-ownership models to empower underserved communities. 14 years in social entrepreneurship.

Rich - Creating transparency tools like CRMs and treasury trackers for DAO budgeting and operations. Currently leads sales at Pocket Network.

Dominik - Exploring reputation systems that address limitations like subjectivity and manipulation via knowledge graphs. Active researcher in the area.

Milena - Automating profit-sharing and rewards distribution within DAOs and communities via trustless and transparent mechanisms. Experienced DAO founder and hackathon builder.

Artem - Validating needs for better sensemaking and deliberation tools among governance professionals and groups. Over 10 years of governance experience.

With their diverse expertise and alignment with Arbitrum and collab tech, these six fellows will spend the next phase of the program researching their respective areas in coordination with RnDAO's support and guidance. They aim to publish findings and start building out real solutions to benefit the Arbitrum ecosystem at large.

So for both promising entrepreneurs and the many groups striving for next-gen coordination on blockchain, the Co.Lab kicks off an exciting new phase of hands-on innovation and possibility. The potential impacts on community growth, contributor experience, and decentralized governance could be immense if the inaugural fellows' ambitions come to fruition.

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