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Grant Program

The RENEC Grant Program aims to support the community effort to contribute and grow the RENEC ecosystem of products, tools, and utility, with the ultimate goal of promoting a more decentralized, secure, and accessible digital economy.

By providing funding and resources to talented developers, entrepreneurs, and community members, the grant program seeks to achieve the following goals:

  1. To foster developer community around the RENEC blockchain platform, and to encourage collaboration, knowledge-sharing, and best practices among RENEC developers and other blockchain communities.
  2. To support the creation of innovative and sustainable DApps and smart contracts that promote social impact, positive change, and financial inclusion that solve real-world problems and challenges by using RENEC blockchain platform
  3. To promote the adoption and integration of RENEC blockchain technology into various industries and sectors, including finance, NFTs, supply chain, gaming, and more.

The grant program also seeks to position RENEC as a leading blockchain platform for developers, entrepreneurs, and community members who seek to create innovative and impactful DApps and smart contracts.

Benefits#

  1. Funding: as part of our grant program, we are pleased to offer financial support to your project in first year after you join the program.
  2. Access to Resources: we offer consultation services for technical, product strategy, and marketing strategy to ensure the success of your project, and our team is always available to provide expert guidance and support.
  3. Recognition and Visibility: being selected for a grant program can also bring recognition and visibility to your project. This can include media coverage, social media promotion, or other forms of publicity.
  4. Networking Opportunities: you will have exclusive include access to RENEC conferences, workshops, or other events, as well as opportunities to connect with other grantees
  5. Collaborative Opportunities: we are collaborating with industry-leading organizations and companies in the crypto industry. Upon selection into our Grant program, we will facilitate introductions to these partners to provide you with opportunities to expand your business and foster new relationships.

Grant Amounts#

The grant amounts will vary based on the project's scope, potential impact, and stage of development. However, here are 3 tiers of grant amounts:

  1. Seed grants: up to $25,000 in RENEC for early-stage projects with a promising idea and a prototype.
  2. Development grants: up to $50,000 in RENEC for projects that have already developed a functional prototype and are looking to further develop and refine the DApp or smart contract.
  3. Growth grants: up to $100,000 in RENEC for projects that have a working DApp or smart contract and are looking to scale and reach a wider audience.

The launching bonus will be released in 4 installments over a period of 4 quarters. The exact amount of grant amount is subjected to review of renec foundation and offered to you via email.

In case there is serious problem with the maintaining of DApp over its first year, RENEC foundation reserves the right to cease the funding process.

Grants are not:

  • Venture funding round: While we do consider applications from venture-funded companies, it's important to note that grant funding is not intended to replace traditional funding rounds. Rather, our grants program is focused on supporting individual projects that provide a public benefit to the RENEC ecosystem.
  • Free money: We're committed to supporting open-source, decentralized blockchain technology and the RENEC network. We aim to assist those who share the same excitement and interest in exploring that potential, and we kindly request not to misuse this opportunity.

Grant Application Process#

  1. Interested projects submit an online application form that includes a detailed project proposal, and a team profile. In your application, be sure to clarify how your project creates a public good for the RENEC network based on the Eligibility Criteria section below.
  2. Our RENEC Foundation team will assess all grant applications on a rolling basis, and if required, we may request additional information and schedule a call with your team. We make every effort to efficiently review and respond to all grant applications within a maximum of 2 weeks.
  3. Shortlisted projects will be notified of their acceptance or rejection by email.
  4. After receiving the acceptant, your team will recceive the Promise of Funding and needs to launch the MVP to receive the first 1/4 of grant amounts.

Eligibility Criteria#

At our Foundation, we welcome a wide range of ideas and proposals in grant applications. However, to ensure that we are allocating our resources effectively, we do have certain criteria that all grantees must meet. When submitting your project proposal for consideration, please ensure that it aligns with the following criteria:

  1. RENEC based: the project must be built on the RENEC blockchain platform.
  2. Meaningful Contribution: the project can a brand new DApp or a existing DApp that cloned from other blockchain, as long as it is has a clear and innovative use case, with a potential for RENEC users
  3. Open Source: while not all projects may require coding expertise, it is essential that the project is built with an open-source mindset, enabling others to learn from your experiences and knowledge.
  4. Transparent Budget Allocation: provide a clear plan and budget allocation that explains how the grant funding will help achieve your project goals.
  5. Execution Capability: your project must have a production version or, at the very least, a proof-of-concept to demonstrate its viability and potential for success.

Grant Requirements#

  1. Grant recipients must provide regular progress reports and updates on their projects to the grant committee.
  2. Grant recipients must acknowledge the support of the grant program in their DApp or smart contract and marketing materials.
  3. Grant recipients must commit to making their DApp or smart contract open-source and contributing to the RENEC blockchain community.

Timeline#

Applications are now opening indefinitely until our funding running out. We encourage you to apply as soon as possible so we can review your application and get back to you with next steps

Feedback#

We continually strive to improve our Grant Program, and we welcome your feedback. Please do not hesitate to share your thoughts with us via email at grant@renec.foundation or through other communication channels.

Register form: here