August 9, 2023, 3:38pm 1
ABSTRACT
NewCampus, an OC Alliance member, is proposing to establish and operate the Open Campus Accelerator, also known as OC-X, a program designed to onboard 100 education companies into the Open Campus ecosystem within the next 18 months. For more information about NewCampus, see “Appendix 1: About NewCampus”.
Our primary objective is to onboard and educate innovative education businesses, integrating them into the Open Campus ecosystem to train and educate them on the transformative potential of $EDU and publisher NFTs. Through OC-X, these companies will automatically gain entry to the OC Alliance, giving them access to an extensive web2 and web3 network as a source of mentorship and support.
We propose OC-X to be a cohort-based program with a structured curriculum covering topics ranging from learning about Web3 concepts to technical topics around how to integrate of $EDU and Publisher NFTs into each participant’s business. For a hypothetical case study illustrating the typical participant company profile and motivation for joining OC-X, see “Appendix 2: Example Case Study”.
We also propose to establish the OC-X Committee, composed of community members and representatives from Open Campus’ strategic partners, including Animoca Brands and NewCampus. This committee will have the responsibility and discretion to vet and select participants to OC-X.
In addition to the adoption of $EDU, we believe that the OC-X Accelerator will unlock opportunities for the Open Campus community to engage in dialogue with seasoned leaders in the education sector to discover new commercial opportunities to inform Open Campus’ future protocol development.
MOTIVATION
NewCampus has always been driven by a bold vision: democratizing business education and making it accessible to learners in emerging markets. As we continue to grow, we realize the immense potential to reshape the learning landscape and leverage technology for greater effectiveness and inclusivity.
That’s why we’re incredibly excited to spearhead the Open Campus Accelerator, a groundbreaking initiative that allows us to make a significant impact. By collaborating with the first 100 organizations, we have the opportunity to reach millions of learners, businesses, and governments, transforming the education ecosystem as we know it. At NewCampus, we thrive on pushing boundaries and exploring new frontiers, including AI and Web3, as we strive to revolutionize an industry that has been resistant to change for far too long.
We share Open Campus’ vision of a decentralized future in education and believe that it can be a platform empowering companies to solve pertinent business problems in the education sector with Web3 and blockchain technologies. However, the vast majority of education organizations today still know little about Web3 and how they can benefit from it. OC-X changes that, enabling forward-thinking education leaders to receive the training required to accelerate $EDU adoption within their organizations in actionable, meaningful ways.
We hope that through OC-X, the Open Campus community and participants will be able to explore innovative education use cases with blockchain and unlock new opportunities within the Open Campus protocol. See examples in “Appendix 3: Examples of $EDU Use Cases to be Promoted”.
SPECIFICATION
Key Information
-
Total accelerator funding: US$10,000,000 in $EDU from the Ecosystem Fund, to be released from the Open Campus DAO Multisig to a wallet controlled by NewCampus at intervals, each upon the commencement of each cohort. Each tranche will release US$1,000,000 worth of $EDU to the wallet controlled by NewCampus, with the price of $EDU at the start of each cohort used to determine the precise number of $EDU released. NewCampus shall then disburse the funds to participants.
-
Program structure:
-
6 week enterprise-focused accelerator program
-
Companies will be required to attend all training sessions according to the Program Curriculum
-
-
Cohort details: 10 cohorts in total, 10 companies per cohort
-
Funding model:
-
Loans of up to US$100,000 in $EDU per participant company
-
Interest rate of 3% APR
-
Principal and interest to be repaid over 12 months
-
The OC-X Committee has the right to revise the funding model from time to time as deemed necessary or appropriate based on market conditions
-
-
Selection process: Rolling applications to be vetted by the OC-X Committee on a monthly basis
The OC-X Committee
The OC-X Committee comprises 5 members who will adhere to the selection criteria above. The OC-X Committee is responsible for reviewing and validating OC-X applications submitted by prospective participants to ensure they satisfy the selection criteria as required.
To ensure the necessary oversight mechanisms are in place, companies selected by the OC-X Committee for each cohort must be formally ratified by the Open Campus Council before they are deemed valid.
We are nominating the following OC-X Committee for voting and approval by the DAO:
-
Will Fan, CEO & Head of School @ NewCampus
-
Megan Miao, Learning Experience Design Lead @ NewCampus
-
Mohamed Ezeldin, Head of Tokenomics @ Animoca Brands
-
Sharon Lourdes Paul, Co-founder & CEO @ HQ.xyz
-
Open Campus Community Member, TBD and will be updated as we confirm the candidate [This is an open call!]
The Committee will convene every 6 weeks to select the next cohort of participants. In between formal meetings, committee members will communicate in an ad hoc manner as needed.
Monthly time commitment will not exceed 5 hours. Hourly rate US$100, so each committee member will get paid $500 per month. EDU token holders can submit a proposal to replace any OC-X Committee member.
Selection Criteria
The selection criteria for the OC-X accelerator prioritize several key areas that are crucial for the success and impact of the participating education companies. These criteria include:
-
Business Maturity: We seek companies that have demonstrated a proven track record of product-market fit and have achieved a certain level of maturity in their operations. This ensures that they have a solid foundation and are well-positioned for further growth.
-
Suitability for integration with $EDU: Companies that can seamlessly integrate with the $EDU token and leverage its utility within their offerings are highly desirable. This demonstrates their alignment with the Web3 vision and their readiness to embrace decentralized technologies.
-
Strong Management Team: We seek teams that not only possess relevant industry expertise but also demonstrate a commitment to contributing to the development and growth of the Open Campus ecosystem.
-
Engaged Community and Customer Base: Companies with an actively engaged community and a strong base of learners or customers are highly valued. This indicates that the company has built a loyal following and has established a meaningful connection with its target audience.
-
Strong Brand Positioning: We look for companies that have developed a strong brand position in a specific niche vertical or horizontal. This allows them to stand out in the market and have a clear value proposition for their customers.
-
Cashflow and Capital Return: Companies with a sustainable cash flow model are preferred, as they have the ability to generate revenue and return capital to the Open Campus DAO. This aligns with our goal of creating a self-sustaining ecosystem that benefits all participants.
-
Cross-Pollination Opportunities: We value companies that have the potential for collaboration and cross-pollination within the Open Campus ecosystem and future network of partners. This fosters an environment of knowledge-sharing, innovation, and mutual growth.
Training Program
NewCampus will design the curriculum and operate a training program that will take place via virtual call throughout the duration of each cohort’s 6-week acceleration period. The curriculum will be composed of live training sessions that will take place via video call as well as 1-on-1 office hours with mentors.
Attendance will be mandatory for all participants. Training sessions should take no more than 3 hours per week to avoid creating too much disruption to participants’ day-to-day business operations.
Through structured training sessions and ongoing mentorship, every participant will be tasked with integrating $EDU into their products and services, culminating in a final Demo Day during Week 6.
Here is a brief summary of the program curriculum:
-
Week 1 - Introduction to Web3 and OC
-
Week 2 - Building Blocks of the OC Ecosystem: Deep dive into the infrastructure and components of Open Campus
-
Week 3 - Tokenomics and Tokenization Strategies: Exploring tokenomics and its relevance to edtech
-
Week 4 - Regulatory and Compliance Challenges: Examining the regulatory landscape and compliance considerations for Web3 and crypto-based solutions in education
-
Week 5 - Implementing $EDU: Practical guidance on integrating $EDU as a payment and reward mechanism in edtech platforms
-
Week 6 - Demo Day: Preparing startups for the final demo day and Open Campus pitch session
For the detailed curriculum, see “Appendix 4: Sample Program Curriculum”.
Partners & Advisors to OC-X
NewCampus has also secured commitments from its extensive network of influential business leaders across a diverse range of sectors (see “Appendix 6: Partners and Advisors”) to be partners and advisors to OC-X, creating the foundation for OC-X to be a driving force for blockchain and Web3 adoption in the education sector.
TIMELINE
Stage 0 - Pilot
-
Recruit and onboard 10 early stage edtech companies that have a customer base overlap, aligning their interests and goals with the Open Campus ecosystem.
-
Launch a 6-week program designed to support and accelerate the growth of these edtech companies, with the ultimate aim of investing in and onboarding them onto the $EDU ecosystem.
-
Implement a comprehensive evaluation process to collect data, results, and feedback from the participating companies, assessing their progress and potential for success within the $EDU ecosystem.
-
Propose reinvestment into the most promising companies based on their performance, impact, and alignment with the goals of the Open Campus ecosystem.
Stage 1 - Accelerator Program
-
Recruit and launch a series of cohorts to effectively onboard the Open Campus portfolio into the $EDU ecosystem, ensuring a seamless integration and optimal engagement. Targeting ten cohorts with an average of 10 edtech and future of work startups.
-
Distribute the cohorts across diverse education segments, including K-12, workforce upskilling, and education infrastructure, to cater to the specific needs and demands of each sector.
-
Tailor the cohort programs to address the unique challenges and requirements of each segment, offering comprehensive support and guidance to foster the success of participants while actively nurturing valuable industry connections and collaborations.
Stage 2 - Learner Impact Assessment
-
Develop a comprehensive dashboard to assess learner impact reports, providing insights into the effectiveness and outcomes of the learning experiences within the $EDU ecosystem.
-
Establish a robust infrastructure to track and analyze learner, client, and buyer spending on $EDU, enabling transparent and data-driven decision-making.
-
Utilize advanced analytics and reporting tools to gain valuable insights into learner engagement, client utilization, and buyer behavior within the $EDU ecosystem, empowering continuous improvement and informed strategic planning.
Stage 3 - Accreditation
-
Collaborate with the participating companies to establish and promote the Open Campus decentralized university brand, leveraging their programs as valuable components of the ecosystem.
-
Facilitate the embedding of the companies’ educational programs under the Open Campus university license, ensuring alignment with the platform’s quality standards and academic framework.
-
Encourage active participation and engagement from learners, teachers, clients, investors, philanthropists, and corporates within the Open Campus ecosystem, fostering a sense of community and shared purpose.
Working with education companies and integrating Web3 technologies enables us to create value and collect valuable data insights in the following ways:
RESOURCING
Operational Expenses: We estimate that the total operational expenses to administer each cohort will be US$115,000, comprising the initial setup fee (market research, program design, curation of companies, PR and marketing). See “Appendix 5: Investment Breakdown” for a more detailed breakdown of expenses.
Management Fee: As the operator of the accelerator program, NewCampus will charge a management fee of US$150,000 per cohort, to be released from the DAO Multisig, subject to the following schedule:
-
US$120,000 released immediately to NewCampus upon completion of each cohort and
-
US$30,000 to be released upon companies in each respective cohort achieving certain Key Performance Indicators(s) to be determined on a case by case basis by the OC-X Committee.
RISKS & DRAWBACKS
The specific details, such as funding amount, key milestones, and corresponding funding for each milestone, will be collaboratively determined and discussed between the DAO Administrator and the successful applicants to ensure accelerated companies are held accountable to deliver on their commitments with regards to Open Campus and $EDU integration.
GOALS FOR THIS PROPOSAL
The goal of the proposal is to secure approval for the allocation of US$10 million over 24 months for the accelerator and identify and approve the initial 5 OC-X Committee members responsible for overseeing the accelerator operations.