Facebook has announced it’s new funding arm of fbFund.
Through this fund Facebook will distribute 10 million dollars to developers of useful apps. There are a couple different ways these funds will go out but I will describe the 2 Million they are giving out in a competition.
A quick run down of how this will work is this:
Nearly $2 million in non-recourse grants will be distributed between two rounds of the competition:
Round I: Identifying talent
Submissions reviewed by Investors, Facebook fbFund Team, Advisory Committee. Facebook will award $25k grants to our top 25 apps.
- Open for submission: 8/4
- Due on: 8/29
- Winners announced: 9/22
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Originality of Concept
Does the application introduce a great idea in a new and unexplored area?
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Market
Is this application targeted to key cohorts or meet compelling market needs?
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Social/Useful
Does the application enable people to interact with each other? Does it deliver real value to users (incl. entertainment)?
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Expressive
Does the application allow people to share more information?
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Intuitive
Is the application compelling and easy to use? Does it have a well thought out user experience?
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Potential
Can it be a real business someday?
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Team
Do you believe this team can execute and is driven to succeed?
Facebook App Canvas Pages Open to Public
Facebook f8 – July 23rd in San Francisco
Sphinn Facebook Gadget
{ 2 comments… read them below or add one }
Sheesh!
There’s TONS of appz there, and they’re already encouraging more?
Man..!
I remember facebook back from the days when it was just growing. They’ve progressed, fast.. and well.