Helping Polkadot Projects Find Product Market Fit Signals
Introduction
Many startups do not get beyond solving the technical problems of an idea, because they have not achieved product market fit. Also, startups often get caught in a constant loop of product enhancements hoping that this will finally electrify customer interest. We propose to address these problems by bringing in the voice of the customer early to help guide product, design, marketing, and sales decisions. Our approach of surveying audiences that match the profile of potential customers and then coming up with actionable insights, has proven to reduce the time for a company to get to product market fit and then places the company in a position to get to scale.
Funds from treasury will cover sourcing the look-alike customer profile, developing the survey logic and questions, creating the post survey report and then discussing the actionable recommendations. We have five teams building on Polkadot that would like to use our services, we have shared the requirements of three in our proposal.
For each of the teams, Infrastructure Co will provide the following:
Initial product consultation to determine what insights will be of the most benefit to the project.
- Creation of the focus group, questionnaire, or survey.
- Sourcing and conducting customer interviews.
- Creation of a final report that will illuminate and surface the desired insights.
Each participating project will benefit in the following way:
- An increased understanding of market fit, product fit, and the needs of the customer.
- A final report that provides the desired insights for the project at its current stage.
- Critical customer feedback that will prove or disprove product and GTM assumptions.
- A reduction of time and money in gaining essential intelligence.
Who We Are
Our focus is working with ambitious entrepreneurs to help them achieve revenue scale. Infrastructure Co. provides founders with the path to get from idea inception to product market fit and initial revenue. With a track record of 3 x M&A and 1 IPO, we have started and scaled multiple businesses from idea inception to exit. We have experience and work with BNB, Arweave, NEAR, and Dfinity.
Polkadot Sub0 2023: A Catalyst for Collaboration
In September 2023, we attended Sub0 in Lisbon, to meet teams building on Polkadot and understand their interest in using Infrastructure to help them find product market fit and scale their revenue. We found that many saw value in customer research to inform their product or marketing strategies, with a number also seeing value in how it could help improve the UI/UX design experience.
Our Request
We plan on showcasing what our voice of the customer service can do for three ecosystem projects as a first step to proving our value to the ecosystem. The request of $25,000 will allow us to help three projects surface the insights that will be of the most value to them. Once the final report is delivered, we will provide a Net Promoter Score (NPS) feedback on our service to the ecosystem and continue supporting the Polkadot ecosystem as the ecosystem directs.
Ecosystem Return on Investment
The return for the ecosystem is an increase in the number of projects that get to PMF and scale. These companies will deliver on the promise of Polkadot’s technology, providing value to enterprise and retail customers and social proof to attract more developers to build on Polkadot.
We eagerly await the community’s feedback on our proposal and the opportunity to contribute to the growth of the ecosystem.
Comments (4)
Hello team Infrastructure!
KryptosChain has discussed your proposal & gave his feedback from this timestamp.
With that being said, KryptosChain will unfortunately Abstain from voting once this goes on-chain due to the reasons mentioned in the video.
Good luck,
Claudio (KryptosChain)
@KRYPTOSCHAIN Thank you for your comments and feedback. I appreciate you stopping by and taking the time to read our proposal and provide your feedback.
You asked if we have worked with BNB, Arweave, NEAR, and Dfinity.
Yes, we have engaged or are currently engaged with these ecosystems and others. I am happy to share more details on our engagement with the ones we have mentioned.
NEAR - We were selected to be one of 15 service providers to be part of the Horizon program to support the projects that are currently building on NEAR. NEAR recognized that companies coming out of their community programs would benefit from help in securing institutional capital. Infrastructure provides this with our Path to Capital program that helps founders kickstart their fundraising process and gain warm introductions to interested venture capital firms for pre seed funding.
Internet Computer Protocol (ICP) - Dfinity wanted to help their ecosystem companies achieve product market fit. Our Voice of the Customer program helped Dfinity’s projects gain critical market and customer insights that will decrease the time to first revenue. This engagement is very similar to what we are proposing within this ecosystem. The only difference is that we are helping 7 companies with Difinity, and we are proposing to help 3 companies in the Polkadot ecosystem in an effort to show value quickly.
BNB - BNB wanted to use Infrastructure’s experience in building out an enterprise technology stack and growing its ecosystem. BNB contracted with Ian Foley, who is one of the founders of Infrastructure, to be their interim head of growth, managing BNB’s technology product lines and developer ecosystem.
Arweave - Arweave wanted to extend their successful web3 decentralized storage business to web2. We worked with the Arweave ecosystem to attract new developers and secured web2 enterprise partnerships that resulted in an 80% increase in the number of active developers (Electrical Capital report). For the developer ecosystem, we created training programs, templates, and business growth plans to help them scale their business into web2. We also secured large scale enterprise agreements with Fortune 100 companies (e.g. Meta, which resulted in a 60% increase in the AR token price).
You also asked for more info on our personal track record of M&A and IPO activity. Here is a link to the LinkedIn profile of Ian Foley.
I hope the above is helpful.
I realize that we have yet to meet, and you don't know us and can only make assumptions based on a proposal. I am happy to jump on a call with you or anyone who would like to get to know us better.
Hi from Polkadotters! We support this initiative, because we feel that exploring product market fit is invaluable for these projects, as it can save precious time and resources by ensuring a more targeted product development process. In our eyes, it can help to the overall growth and success of Polkadot's ecosystem by empowering more projects to deliver real value to a wider audience.
@Polkadotters Thanks for stopping by and reading the proposal and for your support. We aim to help founders understand critical insights that significantly increase their probability of developing a product that solves customer needs. These insights can also help the founder and ecosystem understand what marketing messaging, price elasticity, and GTM strategies will likely work based on customer feedback.