Input Requested: NEM Ventures Annual Community Update Report
By Dave H.
This is posted in my personal capacity, nothing to do with NEM Migration Committee Input
Dear NEM Community
As we mentioned on Twitter recently (https://mobile.twitter.com/NemVentures/status/1172045990657953792) it has been a year since the NEM Community voted to formalize the NCF(NEM Community Funds) into an investment arm for the ecosystem and we have had the privilege (and challenge) of making that a reality on your behalf, legally starting in Dec 2018.
Part of the reporting we suggested in the proposal was to create a publicly available Annual Community Update Report, to assist with transparency and good governance. Our first year comes to a close in Dec 2019 legally so that is when accounts etc are drawn up, audited, etc. That is also the logical time create such a report. We have been giving regular updates on the forum as we go and hopefully they have been informative, this is more of an annual summary of it all with some additional detail in certain areas,
We are starting to prepare the report now and would like feedback on what you would like to see included. We cannot guarantee to fulfil every request (depends a bit of what is asked for and commercial arrangements in place) but we will try our best.
At present we plan to include:
- Reminder of what NV is, why it is here and what we see for the near future
- Major events since inception
- Summary of investments made to date and where you can see company progress
- Headline KPI figures for numbers of proposals assessed, attracted, in flight etc
- An overview of how we have tracked against the proposed operating budget
- Insight into how we have managed xem liquidation to protect the price
- Section on the team and who is doing what
- Introduction to some of our key partners, how they have and will continue to be involved
- What we are planning for next year
- Summary of our audited accounts
We want to give as much transparency and insight into the workings of the company while making sure it is also relevant and easy to digest. We have a small and dedicated team who have limited capacity due to keeping the headcount as lean as practical. We have no full time marketing or comms function so we largely apply common sense and want to validate that with the community in order to ensure we focus our energy in the most useful way reporting wise. Do please let us know in the comments if there is anything else you would like to see and we will try our best.
Timing wise – depending on how long accounts take to finalise, its likely to come out Q1 2020 at this stage but subject to everything else that is going on with Catapult at that time, we will revisit the exact timing near the end of the year.
As an aside, for those smaller, upcoming startups this is a healthy governance practice to set up gebnerally and a legal requirement once you get a certain size (for private and public companies). It is something all companies should get into the practice of as they grow, especially if audited accounts need to be filed with a regulator such as NEM Foundation did recently with the Singapore company register.
Thanks and regards
NEM Ventures Team