Home Facebook fbFund Awards 25 Apps $25k Each

Facebook fbFund Awards 25 Apps $25k Each

With today’s technology startups, sometimes a little funding can go a long way. Today, 25 Facebook applications received word that they’ve got more runway ahead of them.

At a time when many companies are struggling to find funding for their ideas, these Facebook app developers have found themselves with $25,000 more to spend on development. It’s all thanks to the Facebook fbFund, a grant program designed to “identify talent and seed innovation on the Facebook Platform.”

The fbFund began accepting submissions, last year. After some fits and starts, Facebook found itself with more than 600 applicants vying for those 25 slots.

The winners – you’ll find descriptions of the 25 winning apps on the Facebook Developer blog – represent a good cross-section of the Facebook population. There are apps focused on imbibing, religion, app development, sports, games, and, of course, apps focused on college life.

Among the winners were:

  • Tired of sending fake drinks? BarTab lets you send real drinks to a friend for $1 that are redeemable at participating establishments.
  • Apps that ease development are always cool. Daikon helps users build Facebook apps without having to code.
  • Bargain shopping goes high tech with Pongr, an app that provides on-the-fly price comparisons for nearby stores.

Getting Social with the Selection Process

The current recipients will be reduced to five honorees in December – and Facebook users will get the chance to help in the selection process:

“Around mid-November, we’ll start soliciting our users to help us select the five finalists. Users will have the chance to try these applications, watch the videos and vote for their favorites. Final judging of round two will factor in user voting, as well as input from Facebook, Accel Partners and Founders Fund.”

Those finalists will receive an additional $225,000 in funding, each, bringing the grand total to a quarter of a million dollars in funding for each of those lucky five apps. In addition to the grant, the fbFund recipients also receive mentorship from Facebook employees and marketing assistance.

At a time when funding is becoming scarce, it’s nice to see creative developers and their applications getting some much-needed cash to help them realize their vision.

It will be interesting to see how this grant program – very much micro-funding compared to typical VC investments – furthers the development for the Facebook platform.

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