# Budget Justification For Use Of Launch Funds

**URL:** <https://gov.vitadao.com/t/budget-justification-for-use-of-launch-funds/84>\
**Category:** General Discussion\
**Created:** [June 9, 2021, 10:24pm UTC](https://gov.vitadao.com/t/budget-justification-for-use-of-launch-funds/84 "2021-06-09T22:24:10Z")\
**Posts on this page:** 1\
**Page:** 1

<div class="post-metadata">

**Author:** ![timrpeterson](https://dub1.discourse-cdn.com/flex017/user_avatar/gov.vitadao.com/timrpeterson/32/19_2.png) [@timrpeterson](https://gov.vitadao.com/u/timrpeterson)\
**Post date:** [June 9, 2021, 10:24pm UTC](https://gov.vitadao.com/t/budget-justification-for-use-of-launch-funds/84/1 "2021-06-09T22:24:10Z")

</div>

VitaDAO is a global collective on a mission to fund novel longevity research and democratise IP - making it accessible to patients across the globe. VitaDAO will hold a launch event to release its governance tokens to DAO members and raise funds for the VitaDAO community-governed treasury. The VitaDAO community aims to raise $2.5M to fund two things:

1. Assets
2. Projects

ASSETS

Assets are IP like patents. The value of a patent can be in the $Ms or $Bs. VitaDAO has opportunities to take minority stakes in existing assets, such as those from [Revivo Therapeutics](https://www.revivotherapeutics.com).

PROJECTS

Projects are university or non-profit-led research where VitaDAO can obtain a license to the IP generated. VitaDAO has exclusive license to the IP assets generated in its [1st project](https://discover.molecule.to/project-details/the-longevity-molecule-1603031933959x305091127349719700) with the Scheibye-Knudsen lab at University of Copenhagen.

AUCTION

$2.5M to fund at least 5 projects (NOTE: These numbers are subject to change. We are making them public for discussion purposes)

- Assets: $20K per patent filing.
  - Each project is expected to generate at least one patent filing.

- Projects: $250K per project
  - Covers 6-12 months of project costs.

- Follow-on: $100 - $250K per follow-on costs to the biggest projects.

CAVEATS AND FUTURE PLANS

A constraint on the total amount of funding that goes to the research itself is that universities charge on average 60% overhead. For starters, VitaDAO is focused on small molecule drugs. Later it may consider other categories of assets such as genetic medicines, diagnostics, software, and datasets.

VitaDAO wants to be a leader like [Gitcoin](https://gitcoin.co/) in showing the world that cryptocurrencies can be used for good with non-profits too. Following VitaDAO’s launch sometime in the late summer/fall of 2021, VitaDAO is considering a partnership with Gitcoin supporting non-profit research into longevity.