Do you use AI tools like ChatGPT, Midjourney, etc. to get your work done every day, but why can't you make any money despite all the hard work? Do you have a brilliant AI idea buried in your heart, but you can't start it due to lack of capital and technical background? Why can't you do the opposite and let AI help you start your own business so that your ideas can make money for you?
In this article, we'll introduce you to Deep Funding, a platform that is dispelling this myth, and a Web3 funding program that any ordinary person can participate in. Follow us step-by-step to learn how you can use Deep Funding to take your AI idea from zero to reality and realize your entrepreneurial dreams.
What is Deep Funding?
Deep Funding is a community-driven funding program initiated by SingularityNET to accelerate the development of decentralized artificial intelligence (AGI) for the benefit of humanity.
Simply put, Deep Funding is a form of entrepreneurial funding: if you have an idea or project plan for AI, you can submit a proposal for funding. Unlike traditional venture capital, Deep Funding is funded by the community rather than a single investor, making it more of an AI innovation fund decided by the community.
What's even better is that these grants are gifts that you don't have to pay back, nor do they require you to give up your shares or intellectual property, so you still have full ownership of your ideas and projects. Since the program's launch, Deep Funding has disbursed more than $7.2 million and funded more than 140 AI projects.
These funded projects cover a wide range of fields from healthcare to music creation and social welfare, proving that AI innovation is no longer the monopoly of large tech companies, and that everyone's innovative ideas have a chance to be seen and realized. the idea behind Deep Funding is to use the power of the community to make the allocation of resources for AI projects more fair, transparent, and efficient, so that AI innovation is not confined to the hands of the giants in Silicon Valley, but is open to all people with ideas. The idea behind Deep Funding is to utilize the power of the community to make resource allocation for AI projects more fair, transparent and efficient, so that AI innovation is not limited to the hands of Silicon Valley giants, but is open to all who have ideas.
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Can Ordinary People Participate? Dispelling the myth that you need a technical background to apply
Many people who hear about Deep Funding for the first time may think, "I'm not an AI engineer, I don't have a technical team, can I really apply for this kind of funding? The truth is, Deep Funding is designed for ordinary entrepreneurs like you and me.
Officials have made it clear that their funding round is open to everyone, with no threshold for participation, and that anyone is eligible to submit a proposal. This means that whether you're a student with a new idea, a professional, or an entrepreneur with a passion for AI who doesn't have a degree in the field, you can be bold enough to participate. Of course, you may be worried about how to convince people to support your AI idea without a technical background.
In fact, not everyone in the Deep Funding community is a programmer, and not all participants come from diverse backgrounds. The official guideline even reminds proposers that not all community members have technical backgrounds, so the content of the proposal should be as simple and easy to understand as possible. In other words, even if there are a lot of "ordinary" people among the community members who judge and vote on your proposal, they will still understand and support you as long as your idea is interesting and clear enough. On the other hand, if a proposal is full of technical terms that are difficult to understand, it may lose its appeal.
So don't limit yourself just because you're not a technical expert; Deep Funding doesn't want your education or title, but your creativity and passion for problem solving. In addition, Deep Funding encourages teamwork. If you have a good idea but don't have the skills, consider forming a small team and working together to refine your proposal. Many successful cases have team members with different strengths. For example, the AI Song Starter project, which we'll talk about later, combines the strengths of musicians and AI experts to work together.
At Deep Funding, it's all about the potential of the idea and the plan to execute it, not your personal resume. Ordinary people can become AI entrepreneurs if they have the will.
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What grants and assistance does Deep Funding provide?
For novice entrepreneurs, Deep Funding not only provides "money", but also a whole set of support mechanisms to help your AI ideas from germination to fruition. Here's a breakdown of what Deep Funding can do for you:
Funding SupportThe amount of funding provided by Deep Funding depends on the needs of the project, ranging from a few thousand dollars to tens of thousands or even hundreds of thousands of dollars. For example, in the third round of funding, the total award amount was as high as US$1.53 million, and 43 proposals were selected for funding.
Funds will be disbursed in the form of milestone grantsThe mechanism is based on the idea that when your proposal is selected, you will not receive all the money at once, but rather, you will receive the money for each milestone that you have accomplished, submitted, and passed the auditing process. This mechanism ensures that the project develops step by step and reduces the pressure on the entrepreneur to manage a large sum of money at one time.
No repayment and retention of titleDeep Funding is a grant, not a loan, not an investment. In other words, you don't have to repay the money you get, and you don't need to release the company's shareholding or project ownership to the funders. You can develop your products without any distractions, and the final wisdom and income generated will be yours.This is undoubtedly very friendly to many entrepreneurs who are worried about "taking money from others and being controlled by others".
Experts and Communities AgainstFEEDBACK: What's even more valuable about Deep Funding is that it gives you the opportunity to polish your idea before you get paid. During the proposal review process, your project will be evaluated by industry experts and community members. After each proposal is submitted, independent expert reviewers and community volunteers will provide feedback and scores to help you continually optimize your project. This is like getting free guidance from industry mentors to help you refine your idea. If the feedback points out any weaknesses, you'll have the opportunity to make changes before the final judging. For startups, this mentoring and iterative process is more important than money, as it greatly increases the probability of future project success.
Community and Resource LinksDeep Funding is a global community of AI developers and enthusiasts. In the process, you'll have the opportunity to meet a wide range of talent, from blockchain developers to machine learning experts to like-minded entrepreneurs. The community is your support: you can ask questions, find collaboration, and even find future partners on Discord/Telegram, etc. Deep Funding also organizes online workshops, Q&A sessions, and other activities to help newcomers understand the process and share their experiences. Through this community, you are no longer fighting alone, but in an environment of cooperation and sharing, which greatly expands your network and vision of entrepreneurship.
Global Exposure and Realization ChannelsWhen your AI product is complete, Deep Funding will also help you launch into SingularityNET's decentralized AI marketplace. This means your service will be available to users around the world, and you'll be able to generate revenue whenever someone calls on your AI service. From development to deployment, the SingularityNET team will be there to guide you through the process and make sure your product hits the shelves.
To put it simply, Deep Funding not only gives you start-up capital, but also helps you get through the last mile of product launch and commercial realization, truly realizing the closed loop from idea to product to revenue.
A complete breakdown of the process for ordinary people to get involved in Deep Funding
After understanding what Deep Funding is and how it can help, let's take a look at how ordinary people can actually get involved and turn an idea into a funded project. Below, we'll break down the process so you can understand each step:
1. Prepare a complete proposal
Before submitting, you need to put together a specific and compelling proposal document. The content should include:
- Project Profile and Objectives: Clearly describe the problem you're trying to solve, the core value of your AI solution, and how you're facilitating the development of decentralized AI.
- Team Background: Introduce the core members' experience, technical skills, and past project examples to convince the judges and the community of your ability to execute.
- Technical Solutions and Feasibility: Describe the design logic of the AI model or service, how it operates, and the integration plan with the SingularityNET platform.
- Milestone Design: Divide the project into multiple phases, with each phase listing clear deliverables (demos, APIs, documentation, etc.) and setting standards for achievement.
- Budget Planning: List the funding required for each milestone and explain the use of the funds to ensure that the funders can monitor the flow of funds.
- Social or Platform Impact: If your project has a positive social impact (e.g., public service application, accessible technology, educational tool) or increases user adoption of the SingularityNET platform, it should be emphasized here.
2. Select Application Type
DeepFunding offers two main application channels:
- Funding Round: Any idea can be submitted and competition is fierce.
Small grants: up to US$40,000; large grants: up to US$150,000 (in some cases subject to sharing of future revenues with the platform) - RFP (Request for Proposal): Officials or the community make explicit requests (e.g., specific AI tools, platform extensions), and you can submit a solution for these topics.
3. Submit a proposal on the official DeepFunding website
- Registering and logging in DeepFunding.ai Platform.
- Fill out an online form with project summary, technical details, milestones, budget, and team information.
- Upload relevant attachments, such as Pitch Deck, technical documents, preliminary demos or designs.
In a nutshell, the process for ordinary people to participate in Deep Funding is not complicated: Prepare a proposal -> Submit a bid -> Get selected for funding -> Execute in segments -> Go online and make money. Each step is accompanied by community and official resources. As long as you have the patience and determination to follow the process step by step, an ordinary idea can go on to become an extraordinary stage.
Success Story: From idea to product, they did it!
Maybe you're wondering: Are there really any ordinary people's ideas that have been incubated with Deep Funding? The answer is yes, of course! Let's take two successful cases as examples, and see how they started from scratch and used Deep Funding to turn their AI ideas into real products.
AI Song Starter: Let AI help you create music.
A small team of musicians and AI engineers came up with the idea of developing an AI music creation tool that allows musicians to simply type in a text description or a hummed melody, and the AI will generate drums, chords, and other track fragments that correspond to the style, helping music creators break out of their inspiration bottlenecks. This idea addresses the pain points encountered by many independent musicians in their creative endeavors, and has attracted widespread attention since it was first proposed. The team named their proposal “AI Song Starter” and competed in the fourth round of Deep Funding, where they were selected and received $90,000 in startup funding.
With the support of the grant, AI Song Starter has been developed and has already completed several milestones and launched a beta version that generates four loops of different instrumental styles based on user-supplied text, effectively inspiring musicians to create music. What's even more exciting is that the AI Song Starter program will eventually be launched on the SingularityNET platform, serving more than 60 million potential music creators worldwide. From a brainchild to a product, the success of AI Song Starter proves that ordinary people who love music can also create innovative products that integrate AI across borders with the help of Deep Funding.
Socious: AI Enables Meaningful Career Matching.
Seira Yun, a social entrepreneur from Japan, wanted to solve a social problem: How can aspiring social influencers find a job at a public service organization or social venture that suits them? He envisioned “Socious,” an impactful talent matching platform that uses AI algorithms to intelligently match idealistic talent with nonprofit organizations, realizing the vision of “good people finding good jobs. The idea was submitted in the third round of Deep Funding, where it was recognized by the judges and successfully secured a $50,000 grant.
With funding and support from Deep Funding, the Socious team quickly developed a prototype of the platform and launched the Social Impact Talent Marketplace service, which not only connects people looking for careers in philanthropy, but also attracts companies with a social mission to post their openings.
In October 2023, Socious officially announced that it had received strategic funding from SingularityNET's Deep Funding program (an official endorsement of its mission). The Socious platform is now live and expanding, using AI technology to efficiently match ideal candidates with meaningful job opportunities. As opposed to starting with just an idea, Deep Funding has helped the Socious team cross the financial and technical hurdles, allowing a social innovation idea to germinate and thrive.
In these two cases, one is in favor of creative industries and the other is in favor of social welfare.It may seem like different fields, but they have one thing in common.AI Song Starter is a team of music producers, DJs, and AI engineers working together to combine music and AI.The founders of Socious have been quietly working in the tech world and are determined to use AI to solve social problems.
Initially, they only had aspirations, but because they seized the opportunity provided by Deep Funding, they were given the resources and stage to realize their aspirations. These success stories prove that ordinary people can use Deep Funding to build their own AI ventures!
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Practical tips for newbies to improve their chances of winning the election
After reading the process and examples above, you're probably ready to get started. Before you submit your proposal, we'd like to give you a few more practical tips to help you stand out from the competition if you're taking on Deep Funding for the first time:
1. Emphasize value proposition from real pain pointsA good proposal comes from a deep understanding of the problem and a desire to solve it. Make sure your AI idea addresses a real pain point and clearly states what value your solution will bring. Be specific in your value proposition - don't just say "we're going to change the world with AI," but point to a target audience and a scenario, such as "help indie musicians quickly generate inspirational clips" or "match non-profit organizations with the right talent. At the same time, gather a bit of market or data to support your idea: e.g., how large the target audience is, how serious the current pain points are, etc. This information will allow the judges and the organization to make their decisions. This information will convince the judges and voters that your project is meaningful and has the potential to make an impact.
2. write a clear and compelling proposal: The quality of your proposal has a direct impact on the judges' impressions. It is important to present your program deepfunding.ai in a clear and focused manner. It is recommended to explain the background, program, milestones, team, budget, etc., so that the reader can easily find the key information. Don't be too long without focusing on the key points, or use too many terms so that people can't understand. Remember the principle mentioned earlier: community members with no technical background can understand your proposal.
Therefore, adopting storytelling language and life-like metaphors to explain the technology is also a good strategy (e.g., replacing hard technology names with relatable phrases like "AI music assistant"). Also, use formatting to improve readability, such as highlighting keywords in bold, using checklists to list milestones and budgets, and attaching pictures or flowcharts. A well-written, illustrated proposal not only looks professional, it's also more memorable and memorable.
3. Build reliable teams and demonstrate competenceDeep Funding's best proposals often have talent in a variety of areas: technology development, people management, marketing, etc. If you have an idea but no team, recruit like-minded people or find a partner in a relevant community. If you have an idea but no team, recruit like-minded people from around you or look for partners in your community. List each member's role and experience in your proposal, emphasizing that you have the skills necessary to carry out the project.
Even if you're a one-person team for the time being, don't get discouraged, and focus on proving that you have what it takes to make the project happen - you can do this by mentioning your past relevant project experience or portfolio. In short, convince the judges that "the right people are doing the right thing": with the right people and the right skills, the project is more likely to succeed.
4. Aligning the Mission and Emphasizing Long-term ImpactsDon't forget that Deep Funding has an ambitious mission behind it: to promote a beneficial and democratic AI ecosystem, deepfunding.ai.
If your proposal resonates with this mission, it will be easier to gain support. So reflect your sense of responsibility and vision in your plan: for example, by describing how the project will contribute to human well-being, avoid potential negative impacts, and expand to serve more people in the future. When competing proposals are equal in strength, the one with the most social value and long-term significance often stands out.
In addition, a proposal that demonstrates your project's ability to generate its own revenue in the future (e.g., viable business model, projected user growth, etc.) will also make the judges feel more comfortable investing in you. In short, if you look at your business idea from a higher perspective, you will not only make a profit for yourself, but also create positive value for the community and the industry. This kind of mindset and perspective will be a plus in your proposal.
Conclusion
Traditionally, starting a business means high risk and high hurdles: you may have to quit your job, spend all your savings to raise money, and convince investors to buy in. With Deep Funding, these thresholds are being greatly lowered. You don't need to be a second-generation rich person or a student from a prestigious university, as long as you have a good idea and the courage to take action, ordinary people can also stand on the stage of AI entrepreneurship. If you have ever fantasized that "it would be great if someone would invest money to make the idea in my head", then now is the time to realize your fantasy.
Deep Funding opens its doors to new entrepreneurs with dreams, and uses the power of community to help you get started. Of course, the first step is always the hardest - maybe you're still wondering, "Is my idea good enough? Will it be a shame if I don't get selected?" Put these concerns aside. Any great product starts with a humble idea, and being brave enough to try is a valuable growth experience. Even if you don't win the first time, you'll gain feedback and experience that will prepare you for the next time. On the other hand, if you don't start, your idea will always remain in your head.
The opportunity is right in front of you, be brave and grab it! Put your pen to paper and organize your entrepreneurial inspirations now.log in (to a computer) Deep Funding Official WebsiteSubmission of proposalsWe'll also be joining their community and interacting with entrepreneurs around the world. Let's break the traditional wall of entrepreneurship together, so that the dream of entrepreneurship in the era of AI is no longer unattainable. Maybe the next success story will be you reading this article right now!
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