This is wonderful news, and we are so pleased to work with you to create a real impact for women, and for the entire ecosystem! We do have some ideas on how the program might develop over the next two years. The working group will evaluate this and begin to implement the necessary pieces starting in January. They will shape all of this, and by the end of Q1 2022 we expect to have a robust plan and be ready to run our pilot program with the first cohort. Below are some additional details on the logistics of the project, from our current vantage point.
GOALS & MEASURES
RECRUITING: Actively recruit women from adjacent industries, and demonstrate the opportunities available in web3, why they should consider this path, and how they can accomplish it. Creating jobs and startups by women is really about seeing more women in leadership roles in companies, DAOs, startups.
This can be measured by:
- the number of women who enter the program
- the number of women who complete the program
- the jobs and/or startups they move into after completion of the program - quantitative and qualitative
- analysis of the type and level of their work - which can help us figure out where to expand & adapt the program
- results of surveys for continous improvement of the program
EDUCATION: Partner with educational programs in a variety of disciplines, starting with developers, and including other paths such as web3 marketing, business development, project management, UI/UX, etc. We will assess the demand for different skills sets and match program entrants to paths that interest them.
This can be measured by:
- number and type of educational opportunities we can offer, and enrollment numbers
- completion rates
- qualitative understanding of the role of mentorship in successful outcomes
- job placement or startup paths upon completion of the program
- feedback from the educational partners in the form of surveys and interviews
- periodic surveys of the program participants after 6-12 months to explore outcomes
INCOME: Employ innovative compensation models that allow the program participants to be paid while they onboard to web3, with no strings attached.
This can be measured by:
- financial analysis of outcomes vs average cost per participant
- impact over time in terms of economic value to the participant
- qualitative studies of the participants via surveys & interviews
JOB PLACEMENT & STARTUP SUPPORT: Partner with employers, DAOs with paid workstreams, and orgs that fund startups to provide access to valuable opportunities (both in terms of the interest value of the work and financial incentives). To build this piece, we will need to provide a framework about this new world of work, and how best to tap in to the resources that are available.
This can be measured by:
- quantity and type of opportunities
- success in completion and moving into the ecosystem
- financial measures in terms of value to the participants over time
- qualitative and quantitative measures of value to the ecosystem via a study of those who funded or employed the participants
MENTORSHIP & SUPPORT: This is a key part of the program that we think will optimize for success. The design of this element will not necessarily be measurable except in interviews and surveys listed in the sections above. But it will support every element of the program.
PARTNERSHIPS: we envision partnering with many different aligned parties to create a program that will be of benefit to all. We particularly see partnering with other DAOs to provide inputs to the program, as well as to have access to the pipeline generated. The incentives are educational and financial in order to provide a way in. But the results will be an influx of wonderful people who will have so much to contribute! We look forward to seeing what they will create.
The Roadmap for the $1m fund has yet to be developed in detail, and is subject to change. We expect to spend about $250,000 in the first year, and to expend the rest of the funds in the second year by adding more participants and cohorts to the program.
Our request for $250,000 will take us through the critical first year.
- Design the pilot program for 3-5 women (cohort 1); document the plan
- Set up at least 1 significant educational partnership, starting with developer education
- Design and implement a recruiting plan, and recruit 3-5 women to attend the pilot program in Q2
- Design and implement a compensation plan for the first cohort as well as long-range strategies for how this can be supported
- Create a slate of mentors with an action plan for how they will work with the first cohort, and a set of best practices (a working document)
- Based on this work, establish a detailed roadmap and milestones for the project
- Create an overall budget for the life of the fund, with quarterly and annual projections
- Establish a budget tracking and reporting system
- Establish procedures for the core team to provide transparency to MGD DAO, and to engage DAO members in the project. The core team will be limited, but there will be many opportunities to contribute.
- Set up at least 3 workstreams and appoint a leader/advisor for each workstream, recruiting people who can help execute the vision. Recruiting, marketing & social media, partnership development are likely workstreams to be set up by end of Q1.
- Set up a treasury management plan for the fund.
- Hold a recruiting event at ETHDenver for at least 40 women.
Costs will include: marketing social media, business & partnership development, holding a recruiting event at ETHDenver, attendance at or sponsorship of other hackathons & significant events, consultants in key areas, and hours for the core team and workstream participants. Estimated cost $50,000
YEAR1 Q2 & Q3:
- Run a 3-month pilot program with 3-5 participants who have been recruited, and who do not have significant web3 experience already.
- Create KPIs for the pilot program and report on these during and after the pilot program
- Map out partnerships and bring in at least 5 new partners to provide services and benefits to the cohorts.
- Scale up recruitment program to bring in x women in the next cohort. Present at hackathons and conferences.
- Create NFT “diploma” and/or session POAPs
- Create a graduates group who will participate in mentoring and workstreams going forwrd
- Begin a sustainability plan for the program.
Costs will include all of the above, but with more workstreams and added labor, as well as income provided to the pilot program participants. For 5 women x $5000 per month x 3 months, cost is $75,000. Estimated total cost $125,000
- Revise the program as needed based on outcomes
- Publish a public report on the program and results.
- Social media campaign to amplify the report and recruit participants and partners for 2022.
- Continued recruiting through hackathons & conferences, expand into other areas that target traditional industries such as employment events, and consider additional strategies such as advertising or sponsored meetups.
- Continue to curate and build the community of graduates, mentors, and other stakeholders.
Costs will primarly be focused on revamping the program as needed, social media, and the largest cost is likely to be recruitment for 2023. Estimated total cost $75,000
YEAR 1 TOTAL COST: $250,000
**YEAR 2: **
Operations should stablize and have a well-established cost per year. Most of the funds should be directed to the participants in the form of income and/or benefits such as educational scholarships.
- Run (2) 6-month cohorts or (3) 3-month cohorts (to be decided by outcome of study).
- Based on the costs of the prior cohorts, and the desired income level for participants, create the program based on average cost per candidate.
- Provide a detailed budget & plan for 2023.
- Implement a sustainability plan and raise funds for year 3. Sustainability could have multiple elements such as treasury management.
- Provide documentation of all program elements and results as a public good, so anyone can iterate on this program.
YEAR 2 PROJECTED COST: $750,000
Providing $5,000 to 50 women for 3 months is $750,000 alone, with no program costs included. So we’ll need to look at cost per person, effectiveness of the program, and other factors to determine the budget for year 2.