By Ami Vora
- Monday, October 15, 2007 at 9:31am
A couple weeks ago, we announced a new program called fbFund designed to encourage developers to build innovative and engaging new applications by awarding grants to people who are building their businesses on Facebook Platform. These grants are designed to cover startup costs and enable people to take opportunities to build on Facebook Platform they might not have been able to otherwise. fbFund is funded by Accel Partners and The Founders Fund, two of Facebook’s early investors. There’s no equity associated with these fbFund grants, but if recipients need additional funding after receiving a grant from fbFund, Accel Partners and The Founders Fund will have the right to make those investments first, and (if your proposal is selected for a grant) we’ll ask you to sign an agreement with additional details around these terms.
For more information and for the online grant application form, check out http://www.facebook.com/developers/fbfund.php.
We are very excited to be offering this program and wish you the best of luck whether or not you are an fbFund grant recipient.
Thanks for developing!
Ps: we had earlier hoped to simply accept proposals through email, but found significant confusion around our standard nonconfidentiality clauses and wanted to be very clear about the conditions of applying for a grant. Because we didn't want anyone to submit their proposals without knowing the various limitations (we of course want to operate in the best faith), we decided that we would have to require all grant applications to be accompanied by an acknowledgment of the nonconfidentiality clause. We apologize for the inconvenience of resubmitting -- we decided that it was most important that applicants clearly understand the terms under which they're submitting proposals, and there wasn't an easy way to do that.