AIP-382: Ape Builder House

PROPOSAL NAME:

Ape Builder House

PROPOSAL CATEGORY:

Ecosystem Fund Allocation

TEAM DESCRIPTION:

Introduction to Brinc (www.brinc.io)

Brinc is a Venture Accelerator headquartered in Hong Kong that currently operates 15+ multi-disciplinary accelerator programs across 7 countries. We believe that the world’s biggest challenges can be solved by entrepreneurs, and that many more can make a positive impact on the world if they are given funding and the right support. As such, our mission is to invest and nurture exceptional startups and equip them with the right tools to scale globally.

Brinc accelerates startups focused on blockchain/web3, food and agriculture technology, clean energy, drones, robotics, and IoT, all within a sustainability mandate. We nurture each and every founder that comes into our program leveraging our expertise, connections and our community to help them thrive over the long term and deliver financial and purpose-driven results. To date, Brinc has a portfolio of 200+ companies with founders from 35+ countries.

Value Created for Startups

Our accelerators strive to provide startups with the right support, at the right time, from the right people to increase the likelihood of success across all stages of the startup lifecycle. We have designed our programs leveraging insights we have gained from investing in and accelerating more than 200 startups around the world. Winners of the Ape Builder House will have access to exclusive content on how to position for success within the APE Ecosystem.

Our accelerator programs span an intensive three-months and provide a mix of funding, education, mentorship, network access and other support to navigate challenging milestones common to many as they scale their businesses. The objectives of our programs include:

  • Product Market Fit: Successfully identify a target customer, understand a pressing pain point, develop a solution that the customer is willing to pay for and validate the solution with real customers.

  • Technical Development: Design a product that can be distributed at scale, identifying the right partners and raising enough funding to successfully deliver the product to market.

  • Commercialization: Establishing a supply chain to support the effective delivery of solutions to customers while maintaining attractive product unit economics. Identifying and securing paying customers for the solution.

  • Market Access: Mature solutions for economies of scale and build operations and business models to effectively enter new geographic and product markets.

Partnership with Animoca Brands

In 2021, Brinc and Animoca partnered to launch the ZK Advancer Accelerator program to invest in game-changing Web 3 companies. In addition to sitting on the program’s investment committee, core members of the Animoca team actively mentor and engage with startups that have been accepted into the program. Participating startups also enjoy access to Animoca’s portfolio companies to explore opportunities for collaboration and commercial synergies.

In December 2021, Animoca Brands led Brinc’s $30M Series B, strengthening our growing partnership, commitment to developing new accelerator programs, and supporting Web 3 technologies looking to democratize access to financial services and information, develop more inclusive economies, and transform global business processes, just as the internet did.

Key team members involved
Brinc Leadership - Ongoing management and oversight from Brinc leadership team including but not limited to Managing Director, Web3 Lead and Director of Operations.

Ape Builder House Lead- Dedicated resource assigned to act as the project lead managing the Ape Builder House from kickoff through implementation.

Project Managers - Assign one-two project managers at any given time to support in ongoing operations and post-event support.

Project Assistants - Assign two project assistants to manage logistics of IRL event and ad hoc tasks that require support throughout the engagement.

Marketing Team - Used to create marketing assets, manage social media, promote IRL events and manage application process and filtering.

Mentors - Leverage Brinc’s network of mentors to support during the IRL Builder House events and post-event support.

Event Judges - Select Brinc team members and guest judges from ApeCoin DAO, Web3 industry leaders, and investors to be invited pending on-site availability.

ABSTRACT:

Brinc is a global venture accelerator having invested in over 250 startups over the last 8 years with founders from more than 35 countries. Brinc is also a portfolio company of Animoca Brands. Brinc has a track record of 64 Web3 startups with a total of 10.5M USD investment deployed. From our Web3 investments, average post program funding equals 2.4M USD within 12 months for teams that have successfully raised. Based on our deep Web3 experience we propose launching the “Ape Builder House” to promote the use of ApeCoin integration into new and existing businesses. Unlike other events which give teams a maximum of 2-3 days of support, we propose a prize pool including $APE grants paired with acceptance to Brinc’s world class Web3 Accelerator providing additional education, mentorship and funding opportunities for winners.

Brinc Web-3 Portfolio Key Stats (Last updated in Q3 2023)
Total Companies in web3: 63
Alive: 94%
Dead: 6%
Raised Post Program: USD $12.3M
Year Invested - Relatively new portfolio for Brinc
2023: 41%
2022: 56%
<2021: 3%
Funding Stage
Series A: 3%
Pre-Series A: 14%
Seed: 49%
Pre-Seed: 34%
Product Stage
Pre-Launch: 13%
Pilot / POC: 41%
Product Launched: 46%
Generating Revenue?
Yes: 37%
No: 63%

BENEFIT TO APECOIN ECOSYSTEM:

The ApeCoin Builder House’s motivation is to provide the knowledge, resources, and mentorship for existing and new projects to integrate ApeCoin in a sustainable business. This combined with IRL events at two of the biggest Web3 conferences globally will build ecosystem awareness and utility for $APE. Our aim is for $APE to become a cornerstone fostering a growing entrepreneurial ecosystem unlocked through Brinc’s hands on support.

The Builder House will provide an opportunity for new and existing $APE holders, startups, and individual creators to launch a new idea or add to an existing business with the use of $APE. We understand that a startup journey extends far beyond a builder house which is why we will also offer winners an opportunity to join Brinc’s accelerator programs to drive long-term growth and value for the community. Over the past 9 years Brinc has hosted IRL events with thousands of attendees and helped hundreds of startups secure investment to scale.

How we support APE’s Mission and Guiding Values:

  • Help $APE members with the business tools, knowledge and mentorship to bring their idea to life
  • Support existing Web2 and Web3 businesses on how to integrate $APE
  • Build awareness for $APE with IRL events at the biggest Web3 conferences
  • Increase uses cases & utility for $APE
  • Ultimately drive the value and utility of $APE
  • Increase ApeCoin Holders
  • Access to education, mentorship and investment opportunities for top projects post-builder house to drive long-term value and growth
  • Follow-on co-investment opportunities for ApeCoin DAO to double down on
    Builder house winners

KEY TERMS:

IRL - References “in real life” physical event

STEPS TO IMPLEMENT & TIMELINE:

Objectives:

  • Launch IRL Builder House events at major Web3 conferences globally to promote $APE (DAO can vote on which global Web3 event to launch the Buidler House)
  • Foster new ideas seeking to add utility to $APE and user adoption
  • Access for Builder House winners to receive additional education, resources and
    mentorship.
    ● Potential co-investment from ApeCoin DAO and Brinc Accelerator to continue to
    scale.

Builder House Themes:

  • Individuals or teams that want to build new ideas that will bring new $APE utility to reality

  • Individuals or teams that want to integrate $APE into an existing project or business

Application Requirements:

  • Individual or Team information (No anonymous teams, must be doxxed)
  • Ability to join Builder House Event IRL
  • Confirm participation with intent to:
    • Develop new and novel utility for $APE
    • Integrate $APE into an existing project/business

Preliminary Agenda for IRL Builder House Event

      Day 1:
      
      9:00 AM - Arrival & Introductions: Participants arrive, introduce themselves, and Ape Builder House welcoming ceremony
      
      10:00 AM - Overview of ApeCoin and Builder House Team: Start with a brief presentation introducing ApeCoin guiding values and team hosting the event.
      
      11:00 AM - Choose Teams: Participants form teams and select a project to work on for the next two days.
      
      12:00 PM - Lunch Break: Take a break for lunch to relax and recharge.
      
      1:00 PM - Workshop: Host a workshop on how to structure new ideas and key criteria to consider when building as well as how ideas will be evaluated.
      
      2:00 PM - Hacking Begins: Participants start working on their projects.
      
      6:00 PM - Dinner Break: Take a break for dinner to refuel.
      
      7:00 PM - Continue Hacking: Participants continue working on their projects.
      
      10:00 PM - Day 1 Ends: Participants wrap up for the day and head to bed.
      
      Day 2:
      
      9:00 AM - Breakfast & Recap: Participants arrive, grab breakfast, and recap their progress from the previous day.
      
      10:00 AM - Workshop: Host another workshop focus on the journey from idea to implementation and pitfalls to avoid
      
      11:00 AM - Hacking Continues: Participants continue working on their projects.
      
      12:00 PM -Lunch Break: Take a break for lunch to relax and recharge.
      
      1:00 PM - Check-in & Feedback: Organizers check-in with each team to provide feedback and guidance.
      
      2:00 PM - Hacking Finishes: Participants wrap up their projects and prepare for presentations.
      
      4:00 PM - Presentations: Each team presents their project to the group for feedback and discussion.
      
      6:00 PM - Builder House results and awards ceremony and wrap-up
      
      7:00 PM - Networking Afterparty: Participants network and socialize with each other, share their experiences, and exchange contact information.


  Day 2 Bonus Investor Breakfast:
  
  9:00-11:00 AM - Investor Breakfast: Private event exclusive to ApeCoin holders and later stage projects integrating $APE. Based on past investor breakfasts Brinc has fostered matching for over 100 Web3 founders and investors.

Proposal to run two Builder House events within year 1 of approval

  • 1 Builder House in North America (can consider NFT NYC or other major conferences)
  • 1 Builder House in Asia (Suggest Token 2049 in Singapore or other major conferences)

Builder House Prizes

$100,000 USD equivalent of $APE (per event)

  • Distributed to the top 10 teams in each Builder House Event

  • Top 5 teams per Builder House get access to Brinc & Animoca Brands Accelerator Program (Content, Mentorship and Investor & Network introductions) with the option to join Brinc’s Global Startup Portfolio

Steps to Implement - The steps to implement the proposal, including associated costs, manpower, and other resources for each step where applicable.

The proposed timeline included in this document is high-level and subject to refinement with input from both the APE DAO and Brinc stakeholders. The scope of work and deliverables will be executed over four distinct phases with a focus on the following goals:

1a. Builder House Setup: Refine the Builder House objectives, framework, agenda, application process and post event support leveraging Brinc’s resources, expertise and mentors to provide the greatest possible value for participating teams.

1b. Marketing & Call Out: Execute an effective marketing and application process to attract top-caliber teams and individuals to apply for the Builder House and join for the IRL event.

2. Builder House Execution: To operate the Builder House including but not limited to securing event venue, operating the Builder House in collaboration with mentors from Brinc’s global network. Brinc as an entity is an APE + BAYC holder and a firm believer in the vision and values of the ecosystem;
we want to help take $APE to the next level. The gap we see in many ecosystems seeking
additional utility and adoption is great support for projects early but limited follow-up support
positioning teams for long-term success leaving great ideas to die. This is a mistake we don’t
want APE to repeat and why we have built this framework for the ApeCoin DAO. The winners
from the Builder House would be judged by a panel which can include but is not limited to
industry experts, APE holders and Brinc to decide on the teams we think have the best chance
to integrate APE and grow the ecosystem. We will work with the DAO to define how teams are
judged in the Builder House where evaluation criteria could include aspects like impact to the
DAO, new users onboarded, utility, revenue, active users, as well as the growth potential of the
venture.

Note: In this proposal, Brinc is acting on behalf of ApeCoin DAO to run the Builder House
and will not take any equity in participating projects. If a winner accepts a subsequent offer
to join the Animoca Brands and Brinc Web3 Accelerator post-event in exchange for
follow-on investment, there will be an equity component for Brinc.

Members of the Ape Foundation would have the ability to opt-in to participate in judging the Builder House winners.

3. Post Event Brinc Access & Support: The top 5 winners from each Builder House will be pre-approved to join Animoca Brands
and Brinc’s Web3 12-week Accelerator program which kicks off bi-annually in the Fall and
Spring.

Additional benefits for Builder House winners accepted into the program include:

  • No Accelerator program Fee for Startups ($35,000 fee covered by ApeCoin DAO as
    part of Builder House Prize for guaranteed placement)
  • Startups receive 100% of combined investment up to $200,000 Total ($100,000 from
    Brinc investor network + optional co-investment by ApeCoin DAO up to $100,000).
    The investment ticket is not discounted with any participation or management fee.
  • Access to Brinc’s global mentor and perks partner network (over $200,000 worth of
    perks and discounts from partnering organizations)

Timeline - Relevant timing details, including but not limited to start date, milestones, and completion dates.

The proposed timeline included in this document is high-level and subject to refinement with input from both the APE DAO and Brinc stakeholders.

Phase 0 - Proposal Submission and Approval from ApeCoin DAO (1-2 months)

Press Release - Target to get approval from DAO and announce the first Builder House ASAP to be ready for 2024.

Phase 1 - Builder House Setup and Callout (3 months)

Phase 2 - Builder House Event - 2 Full days at major conference per event (Location to launch to be voted on by ApeCoin DAO)

Phase 3 - Accelerator Integration for Winners - Top three teams from each event are granted acceptance into Brinc Web3 Accelerator

Repeat Phases 1-3 to run a second Builder House within 12 months of approval.

OVERALL COST:

Our recommendation is to move forward with an 12 month engagement, during which we will support and launch two Builder House events with ongoing support for winners to join Brinc’s Web3 Accelerator Program. This engagement can be renewed upon completion to run an additional two builder houses. From our experience, the 12 month engagement will give us enough time to validate the value of the engagement and quantify impact to ApeCoin DAO before extending or amending the agreement.

Builder House Setup Budget: USD $50,000 equivalent in $APE (Approximately 35,714 APE) (one time fee)

Phase 1 - Marketing Callout and Application Management Budget: USD $200,000 equivalent in $APE (Approximately 142,858 APE) (annual budget for two events)

Phase 2 - Builder House execution Budget: USD $250,000 equivalent in $APE (Approximately 178,572 APE) (annual budget for two events)

Phase 3 - Top 5 Winners per event join Brinc & Animoca Brands Web3 Accelerator (USD 350,000 Total - USD $35,000 per team) (Approximately 250,000 APE)

Builder House Prizes: 200,000 APE (2 events)

Overall Budget for two Builder Houses and Accelerator Integration: USD $850,000 equivalent in $APE (exchange date to APE based on daily average on the date of proposal approval) + 200,000 APE in Prizes

Builder House Target Outcomes / KPIs and Value Creation for $APE:

  • 50 New projects launched using unique IP creation and $APE integration
  • 25 New companies created using $APE
  • Bringing 10,000 new community members to APE social media like Twitter as new project and utility launch
  • 1,000 New token holders to growth community and adoption of APE
  • With a steady increase in projects offering APE utility increase in APE transactions and avg. token volume
  • Over 1 million social media impressions for events and promoting APE Builder House projects boosting overall brand awareness and recognition
  • Connect holders and projects integrating APE with Brinc global investor network
  • Co-investment opportunities for ApeCoin DAO to win long-term with top projects

NOTES:
Link to the AIP idea submission:

https://forum.apecoin.com/t/ape-builder-house/

Please note all comments were addressed in the body above but if anything is unclear we would
love to expand in the comments.

1 Like

Great to see new authors posting AIPs! Welcome :slight_smile:

Couple questions please, coming from myself personally and also from the 8DAO delegate aka 8Delegate;

Can you speak a bit to the success rate of these 64 Web3 startups startups? I’m assuming as a detail oriented accelerator you might have some analytics on their performance to date. I recognize it’s bear market so some of these answers might not be favourable today based on how things will look in the next cycle however I feel it’s still important to have clarity on how things look today. I don’t know what you track, but for example topics related to the following are of great interest to me before determining whether to support/abstain/against at the polls;

  • How many have revenue in excess of $5k/mth?
  • How many are self-sustaining with revenue?
  • How many have shut down?
  • How many scaled through to their Series B, C or beyond?
  • How many have 1k+ unique monthly users?
  • How many have 10k+ unique monthly users?
  • How many have 100k+ unique monthly users?

Is this to say that Ape would provide all the money, and Brinc would provide all the man-power to run the Builder House events? ie: Brinc would provide zero capital contribution and Ape would pay for the wages of all the Brinc team members? I think the answer is yes however just want to be 100% clear in my understanding.

What does Brinc want out of this? I see a couple options, please indicate which are true and/or clarify in your own words;

  • Does Brinc get any equity from the projects out of Builder House?
  • Is Brinc basically leveraging Builder House to hand select which projects to accept into their Accelerators, kind of as a vetting process prior to Brinc investing capital?
  • Is the suggestion here that ApeCoinDAO would own a piece of equity and/or a piece of rev share from the projects coming out of Builder House? Or has this not been considered in your AIP as written? I understand the value to the Ape ecosystem by greater token utility, however my questions still apply. $850k isn’t chump change so warrants the inquiry.

How long of a timeframe are you suggesting for the Marketing Callout Phase to be carried out for? Like 1mth, 2mth, 3mth?

It would be a show of good will by Brinc to allow ApeCoin DAO to follow along on the in each of Brincs top 5 picks with let’s say something like a $25k - $50k spot on the cap table alongside Brinc at the equivalent valuation Brinc would be securing via the Accelerator program. Otherwise, it’s a Moby D!ck scenario. The one that got away. The Brinc Unicorn born from the Ape Builder House, which Ape never followed along on in the investment round. Let’s avoid that scenario and permit ApeCoin the opportunity to sit at the table alongside Brinc instead of cheering from the sidelines.

7 Likes

This whole AIP rests on the assumption that brinc is very builder friendly. Essentially the DAO would be outsourcing developer marketing to you guys. You guys also seem to have a partnership with Animoca which you highlighted but there’s a very worrying red flag I ran into while going over your program.

You mention that you invest upto $100,000 but you have a mandatory program fee of $35,000. This is over 1/3 of the maximum investment amount! I’m guessing in most cases it can end up being half or more of the investment. This is not very developer friendly. If you have a mandatory fee, reduce the max and and use an internal rake. I find it very disingenuous to advertise an up to $100,000 investment, and then you turnaround and tax 35% (or more) instantly. You want the DAO to throw its weight behind you, but if we proceed with this, we would tacitly be endorsing this type of behaviour which is not founder friendly. Programs like YC, Alliance, etc don’t resort to these types of tactics so I hope you reconsider how you advertise your program.

3 Likes

Kudos to this AIP. I believe accelerator & mentorship guidance is key to avoiding unnecessary mistakes and cost efficient to new AIP approved teams

This topic was automatically closed after 7 days. New replies are no longer allowed.

Hi @brincvc,

Thank you for your ideas [and the ApeCoin DAO community for the insightful discussions].

A moderator will reach out to the author to finalize the AIP Draft using the appropriate template.

  • Once the AIP Draft is confirmed by the author and meets all DAO-approved guidelines, it will receive an AIP ID number and move forward for Draft Analysis Review.
  • @brincvc please see your messages for the next steps.

Follow this Topic as further updates will be posted here in the comments. In accordance with DAO-approved guidelines, if the author does not respond within 30 days, the proposal will be automatically transferred to the Withdrawn category, and the author can re-submit the idea.

-@Facilitators

1 Like

Hi ApeCoin DAO Community,

@brincvc has completed editing their AIP Idea to be their AIP Draft.

This proposal has been assigned the AIP ID Number 382.

Follow this Topic as further updates will be posted here in the comments.

Kind Regards,

@Lost.Admin

Thanks.

When will it be live?

Cannot find it here yet: https://snapshot.org/#/apecoin.eth

1 Like

Hi @brincvc,

We will be in touch again soon once our team has completed reviewing your final draft, and will revert with any questions we may have.

Thank you,

@Lost.Admin

Hi ApeCoin DAO Community,

Our team has reviewed and discussed @brincvc’s AIP Draft and have sent a list of initial questions. We await answers.

Follow this Topic as further updates will be posted here in the comments.

Kind Regards,

-@Facilitators

1 Like

Hi thanks for your review and initial questions.

Where could we find these questions?

Hi @brincvc

The initial questions have been sent as a direct message, in the existing thread where we have been coordinating together.

Kind Regards,

-@Facilitators

All good have seen the email come through. Thanks. Will respond.

2 Likes

Hi ApeCoin DAO Community,

We have no further questions for @brincvc. This AIP is now under Administrative Review.

Follow this Topic as further updates will be posted here in the comments.

Kind Regards,

-@Facilitators

This is a concept image for the APE Builder House we have put together

2 Likes

This proposal is live for Snapshot vote at Snapshot. The voting period closes 12 days from now at 9PM EST.

The AIP implementation is administered by the Ape Foundation. Implementation may be immaterially or materially altered to optimize for security, usability, to protect APE holders, and otherwise to effect the intent of the AIP. Any material deviations from an AIP, as initially approved, will be disclosed to the APE holder community.

Hi ApeCoin DAO Community,

The voting has closed for this proposal and it has not been approved.

This Topic will be moved to and remain in the Rejected AIPs subcategory.

-@Facilitators