What is Generation Accelerator (gen/acc)?

Generation Accelerator (gen/acc) is an innovative program designed to empower youth by providing them with the resources, mentorship, and support they need to turn ideas into reality. We believe that the future lies in the hands of those who dare to dream and build. Our mission is to foster a culture of creativity, curiosity, and innovation among university students, particularly in developing and poor economies.

Why Gen/Acc?

In today's interconnected world, the potential for progress is immense, but access to resources and opportunities is still uneven. A student in a rural village in Bihar, India, should have the same opportunity to realize their dreams as a student in Palo Alto, California. Gen/acc aims to bridge this gap by providing the necessary support for young innovators to build impactful projects.

The Process:

1. Idea Pool Creation:
   • We gather ideas from university students across various disciplines, focusing on tech x social impact and research projects that can be completed within 30 hours of work.
   • The idea is to do this IRL.
   • Our current plan is to do this in Mumbai.
2. Idea Selection:
   • Students choose an idea from the pool and submit a preliminary plan outlining how they will execute it over the next 2-3 weeks.
3. Building Phase:
   • Participants dedicate a minimum of 2-3 hours/day to working on their chosen idea, providing daily updates to track progress. There will be one full day building week with all the participants at one co working space.
4. Funding Round:
   • Eligible projects undergo a quadratic funding round and impact based allocations, where matching funds are allocated based on community support and impact scores, respectively.
   • But as this is pilot project, we will be having this on testnet.
5. Final Evaluation:
   • After the building phase, participants submit a report detailing the impact of their project on themselves and the community. The best projects are selected for further support and development.

Impact-Based Allocations:

Our unique funding model incorporates both quadratic funding and impact-based allocations, ensuring that projects with the most potential receive the necessary resources to succeed. Impact scores, earned through consistent progress and significant outcomes, play a crucial role in determining the allocation of funds.

Our Goal:

We aim to raise $3,000 to launch the gen/acc pilot program, covering resources, mentorship, and operational costs. This funding will lay the foundation for future phases, empowering young builders to create meaningful change in their communities.

Impact-Based Allocations Explained

Traditional Quadratic Funding: Quadratic funding is a method used to allocate funds to projects based on the number of contributors and the total amount of money available in a matching pool. The idea is that projects with broader community support receive more funding. The formula for calculating the extra funds a project receives is:

Extra Funds= (total matching pool) * (number of people who contributed to the project) / (total number of people who contributed to all projects)

Example: Imagine we have a $10,000 matching pool to distribute among projects, and three projects are participating:

• Project A: Received $1,000 from 2 contributors ($500 each).
• Project B: Received $1,000 from 5 contributors ($200 each).