As we have grown from the singular focus of driving funding for our Program Rounds to now driving BD for multiple product workstreams, so too does the BD function need to evolve to drive pipeline development for the whole of our product offerings (Allo, Grants Stack, Program Rounds, and Passport).
As described in the S19 Budget Amended Budget, we defined discrete goals and objectives to help build a foundation for success. As we move forward and look ahead to the S20/21 budget cycle, we would like to build the case that the function of BD is more important than ever, and, as such, we should break out this function into a new, independent workstream.
Early mentions of PGF in the Gitcoin Forum started in May 2021, with the early ideas for the group’s span of responsibility including the following:
- Best practices for managing the Gitcoin Grants matching pool and multisig by proposing round sizes, themes, and parameters for stewards to review and vote on
- Creating policies regarding what is/is not an acceptable grant
- Deciding on what a fair dispute resolution process for grants might look like
- Helping to manage the broader GitcoinDAO treasury and push forward positive-sum, multiplayer games through inter-DAO collabs like token swaps
As Gitcoin has evolved with new products, so too has the scope of responsibilities under the umbrella of PGF. As per the S18/19 Budget proposal and the amended S19 Budget, the scope of PGF has grown from its original intent of supporting the Gitcoin Grants (GG) Program into supporting both the “Program” (Gitcoin Grants) and “Partnerships” (our BD function). While Gitcoin’s evolution has been remarkable, the absence of a dedicated BD group has posed challenges:
- Difficulty establishing strategic partnerships due to a lack of focused efforts.
- Missed opportunities in expanding product adoption in new markets.
- Inconsistent sales processes lead to inefficiencies.
- Siloed approach to managing and growing key relationships.
- Challenges aligning product offerings with market needs.
Crypto is not static; it’s a dynamic web of interconnected platforms, each bringing unique values and opportunities. In this ever-expanding ecosystem, the true power lies in connecting, communicating, and collaborating seamlessly.
GSD’s primary objective is to fortify Gitcoin’s position by fostering strategic alliances, driving product adoption, and streamlining sales operations. As such, the core functions of this group encompass the following:
- Drive adoption of Gitcoin products and public good funding
- Ownership of Gitcoin’s Sales Process
The GM (Sov) will be responsible for top-level oversight and management of the group. The group will initially consist of two Co-Leads, an SDR, an Engagement Manager, and a Funds Manager.
A breakdown of the roles and who from the team will fill them is shown below:
|GM||Sov||Overarching leadership, strategic direction, and team management.|
|Co-Leads||Sov, Azeem||Leadership, Mentorship, and Cross Workstream Collaboration. Owners of GSD: Top Goals.|
|Relationship Management||All GSD Team Members||Responsible for owning opportunities to closure once qualified. Maintains and grows key relationships.|
|Engagement Manager||Kieran||Responsible for stewarding the adoption of products from pre to post-sales. Ensures smooth transition of service opportunities from Gitcoin to qualified service providers.|
|Funds Manager||Carlos||Focused on the growth of funding driven through Grants Stack. Assists in driving matching funding for program rounds. Leads in Community Round opportunities.|
|SDR||Saurabh||Involved in the initial stages of opportunity development, including generating and qualifying leads. Can drive qualified opportunities where needed.|
|EA||Lyl||Assists Workstream Leads with Scheduling and other tasks as assigned.|
In addition to the roles within GSD, there will be a wider group across Gitcoin consisting of MMM for Marketing and Demand Generation, Product Workstreams for in-depth subject matter expertise, and Executive Leadership providing support where needed.
These top goals serve as our compass, ensuring that every step we take aligns with Gitcoin’s overarching vision and amplifies the community’s collective strength.
|Top Goal||Sub Goal|
|Driving adoption of Gitcoin products and public goods funding.||Build and ignite demand generation engine.|
|Driving adoption of Gitcoin products and public goods funding.||Define standard methods to track adoption.|
|Driving adoption of Gitcoin products and public goods funding.||Support S20/21 GPT Funding Goals|
|Driving adoption of Gitcoin products and public goods funding.||Support Grants Stack S20/21 Adoption Goals|
|Driving adoption of Gitcoin products and public goods funding.||Support Passport S20/21 Adoption Goals|
|Driving adoption of Gitcoin products and public goods funding.||Support Allo S20/21 Adoption Goals|
|Ownership of Gitcoin’s Sales Process||Provide a forecast to the organization.|
|Ownership of Gitcoin’s Sales Process||Track and drive opportunities created|
|Ownership of Gitcoin’s Sales Process||Track and drive opportunities closed|
A breakdown of the goals for each workstream supported can be found below:
|S20/21 GPT Funding Goals||Assist Program Round Operators in driving at least 50% of matching pool funds from new donations|
|S20/21 GPT Funding Goals||Lead in all Community Round opportunities.|
|S20/21 GPT Funding Goals||Drive Unique Funding Opportunities|
|Grants Stack S20/21 Adoption Goals||50 grants rounds|
|Grants Stack S20/21 Adoption Goals||10 rounds run by repeat grants managers|
|Grants Stack S20/21 Adoption Goals||5 paying customers|
|Passport S20/21 Adoption Goals||Increase Passport count to 1.5M from a baseline of ~700k-750k|
|Passport S20/21 Adoption Goals||Partner > 70 API users from a baseline of 30-35|
|Passport S20/21 Adoption Goals||Engage > 5 on-chain partners from a baseline of 0|
|Allo S20/21 Adoption Goals||Support initiative to launch 5 new pools on top of Allo.|
|Allo S20/21 Adoption Goals||Assist with proposal scoping, partner management, and lightweight PM as needed.|
The costs for these resources, along with travel and expenses, necessary tooling, and necessary operating costs, are as follows:
|Travel & Discretionary||$23,604.99||$23,604.99|
|Software & Tooling||$2,499.99||$2,499.99|
The workstream will recognize all revenue generated and flow back to the DAO treasury or be rolled over to the next season.
The GSD Workstream requests $396,710.94 for S20/21, excluding reserves.
The target address for transfer will be a new multisig for the GSD workstream.
Note: GSD will take 50% of the current reserves from the PGF Multisig to fund initial reserves after the formal creation of that workstream.
Note: The GTC amount requested and reserves will be added when this proposal moves to Tally, using the lower of the current price or the 20-day moving average.
As Gitcoin continues its growth and diversification trajectory, forming a dedicated BD function is beneficial and essential. This focus will ensure that Gitcoin and its multiple products thrive in the current ecosystem and pave the way for future innovations and collaborations.
We welcome your thoughts and questions on what is proposed.