Funding Deeptech and Decentralized Science (Panel)
Panelists discuss the intersection of deeptech and decentralized science, exploring how these fields can address global challenges and reshape traditional scientific and investment models.
Speakers:
Riho Kawaguchi: ANRI
Estefano Pinilla: Athena DAO
Gus Domel: Boost VC
- Panelists:.
- Rio (Anri): Focusing on seed-stage deep tech investments in Japan
- Stefano (Athena DAO): leader of DAO's scientific working group focused on women's health research
- Gus (Boost VC): a leading member of a California-based deep tech VC fund
- History of entry into DSci (Distributed Science):.
- Gus: entered DSci with a scientific background and an interest in empowering scientists
- Stefano: Started in longevity research, joined DSci because of its open science philosophy
- DSci challenges and possibilities:.
- Building bridges between scientists and the crypto/web3 community is critical
- Developing ways to collaborate with universities and research institutions (e.g., using sponsored research agreements)
- Requires a long-term view (may take 10-15 years to recover investment)
- Future of DSci:.
- Facilitates scientists to work outside the traditional system
- Focus on tangible products and problem solving is important
- The challenge is to balance the short-term return expectations of crypto investors with the long-term nature of science.
- Situation in Japan:.
- DSci's recognition is still low.
- There are tax issues related to token issuance.
Overall, it was discussed that DSci has the potential to transform the way scientific research is funded and conducted, but is still in its infancy and faces various challenges.
nishio Are startups investing in personnel? Are they investing in business? From that perspective, what exactly are they investing in DAOs?
11:26
From p143.
DeSci Panel
What does it mean to invest in a DAO?
Investing in funds?
Investing in personnel?
Startup investment is largely an aspect of investment in personnel
Regulations in Japan
Difficult to launch tokens
Must pay taxes immediately.
DeSci definition needs to be fine-tuned.
Cannot be done in Japan.
We need to start with the foreign DAOs first.
How do we find the scientists?
When creating a DAO, one must first make connections.
Scientists want to do science.
I don’t understand the company or social implementation.
Connecting researchers to various people = networking
Isn’t it hard to give a token to a college?
Individual universities have local rules.
The university has a sponsored research agreement.
We already have an OK structure, so we’ll start there and fine-tune it.
It is important to fit the university’s format and not look alien.
The University does not need to touch the Web3 directly.
Many people do not want to be involved in Web3
Our company can come in as a middle group.
Web3 is a fundraising tool
How to turn them into tangible assets is important.
What I’m excited about is creating a new ecosystem.
LP(Limited Partner)
A group of people who understand that it takes 10 years or more
Science education for LPs is needed
Gap between short-term trading and
Athena DAO
Boost VC
- Nature of Investing in DAOs: Gus explained that investing in DAOs is similar in some respects to traditional startup investing. Of particular importance are the people in the early stages: although DAOs aim to be decentralized, it is important to have a core of people who can rally the community and set the direction. However, unlike traditional companies, DAOs are also a kind of fund, so investors may be in a "[[fund of funds]]" position.
- Regulations and Challenges in Japan: Japan has strict regulations regarding DeSci and DAOs, and there are particular difficulties regarding the launch of tokens. The issue of immediate taxation upon issuance of the tokens is problematic, resulting in a decrease in funding for DAOs. For this reason, the panelists noted that there are challenges in launching DeSci activities in Japan and suggested starting with overseas DAOs.
- Engaging Scientists and Building DAOs: Stefano described the key steps in building a DAO. First, it is important to build a network of scientists. Often, PhD students and young researchers join DAOs and connect with other researchers through their networks; DAOs serve as a bridge for scientists to focus on their research while translating their findings into social implementation. They connect researchers with entrepreneurs, investors, and others to help bring their ideas to life.
- Cooperation with Universities: Stefano provided some interesting insights regarding cooperation with universities. Many universities have "sponsored research agreements" that can be used to advance DeSci projects. DAOs can take advantage of this existing structure and fine-tune it as needed to advance cooperation with universities.
- Interface with Web3: Stefano emphasized that DAOs do not need to engage in direct Web3 transactions with universities or researchers unfamiliar with Web3; DAOs can act as intermediary organizations, allowing researchers and universities to participate through traditional methods (e.g., cash transactions), thus lowering the hurdles to participation The hurdles to participation can be lowered.
- The importance of a long-term perspective: Gus noted that a DeSci project could take 10 years or more to produce results. This is about the same length of time as a typical venture capital investment, but for crypto investors it is a very long time. Closing this gap is one of the key challenges to DSci's success.
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