Here’s an interesting startup funding note. Facebook has established a fund to grant startup funds to companies developing applications for its platform. Thanks to TechCrunch for the details:
The size of the fund will be $10 million (coming from Accel and Founders Fund) with grants varying between $25 thousand to $250 thousand available for each selected startup that is dedicated to developing Facebook applications. Founders Fund and Accel will get the right of first refusal for the first round of financing of any company in the fund.
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{ 5 comments… read them below or add one }
Wow, sounds like a great opportunity to make some money!
Very nice
How do I get started!!!
tech crunch, I’m really interested in the facebook thing, I’m asking my complete IT department to work on it! can you provide us more info?
I see several requests for more information here, in the comments. For those of you who ask, and anybody else who’s wondering, Accel Partners and Founders Fund will administer the fund. The website for Accel Partners is http://www.accel.com and the website for Founders Fund is http://www.foundersfund.com. You can visit those websites, check the information available, and find out on those sites how to contact them to ask for more details or to move ahead with a proposal. And good luck with that, I hope I’ve helped!
Tim