Summary:\n\nThe CAB (Community Awards Board) was formed in 2021 to be a community-driven source of funding and support for promising developers and teams.\n\nThe CAB encouraged collaboration between developers and open-source projects to promote the adoption and usage of Akash Network’s decentralized cloud.\n\nIn the past year, the CAB has funded multiple projects incrementally, including providing operating support, engineering resources and support, marketing, and program execution. These resources, though far beyond the original dollar funding for these teams, have helped accelerate these teams into full fledged startups in their own right. These costs are not charged to funded projects. Most of these projects continue to have a positive impact on the Akash and Cosmos ecosystem.\n\nTo this effect, the CAB will be transitioned into the Akash Accelerator. The Akash Accelerator will encapsulate the CAB functions, and focus on projects requiring funding at the K level. To this effect, similar to other accelerator programs, the following terms will apply;\n\nThe Akash Accelerator will invest up to K in promising projects\nAll projects must have a working Beta product and be runway ready\nAkash will continue to provide marketing and operational support as is currently\nAkash will receive a 2% equity position on a convertible basis on funded projects\nIf a cohort team proceeds to raise external funding, Akash resource costs will convert to an additional 2% to a total of 4% at external funding.\nAkash will continue to support engineering and marketing efforts for Accelerator projects\nShould an Accelerator cohort require any additional funding (internal) from Akash, this will come at a 2% equity position for Akash as well.\nEach cohort is a 6 month program, and Accelerator applications are on a rolling basis.\n\nThe Accelerator program will be led by a Board of 5 members (this will include some members of the CAB), an Akash representative, and 2 non-voting members with Observer / Contributor status. \n\nNo voting Board member will be eligible to apply for Accelerator funding to avoid conflicts of interest.