By
Joel Leyden
Israel News Agency
Jerusalem ---- October 15, 2008 ....... Facebook, the leading
social networking Website on the Net, has awarded over 2 million
dollars in Facebook (FB) entrepreneurs grants to 25 innovators
who use the Facebook Platform. This includes Facebook users
who are using and implementing mentorship and Web 2.0 marketing
resources across the Web.
The winners of the Facebook grants include PhD candidates in
Comparative Literature, former NASA engineers and an eco-race
driver for the World Solar Challenge, were announced today as
the latest recipients of Facebooks fbFund funding cycle.
Facebook
states that the fbFund: "is the novel program that awards
teams of Internet entrepreneurs $25,000 grants with no pre conditions
to help build businesses on Facebook.com or around the Web with
Facebook Connect. These recipients are eligible for an additional
$225,000 each in grant funding, which will be awarded to five
winners selected by Facebook users and the fbFund advisory council
in December."
Elliot
Schrage, Vice President of Communications, Public Policy and
Platform Marketing at Facebook added: Facebook started
fbFund to help seed innovation among a global community of entrepreneurs
and to help change the economics of starting a company,
said By refusing to take an equity stake for our grants,
were making it a little easier for talented entrepreneurs
to maintain ownership over their ideas and focus on getting
their business off the ground. Given the current caution in
the market, we think fbFund is an even more attractive solution
for innovative entrepreneurs to create the next great opportunities.
Facebook
states that fbFund recipients represent a diverse array of start-ups
innovating in areas ranging from e-commerce, religion and productivity
to gaming, education, weddings, wine, sports and travel. Other
founders include former CEOs and seasoned entrepreneurs, as
well as a supercomputer engineer and a kiteboarder who develops
in Python.
The
Facebook fbFund was founded in 2007 as a 10 million dollar seed
fund focused on identifying talent and enabling entrepreneurs
to build innovative and meaningful applications on Facebook
Platform or on any third party Website, desktop application
or device with Facebook Connect. Round one of the fbFund competition
was announced in late July at Facebooks annual f8 developer
conference and, in less than a month, more than 600 applications
were received. An investment committee comprised of members
from Facebook, Accel Partners and Founders Fund carefully reviewed
each submission.
Spanning
a wide range of uses and categories, the following 25 recipients
have demonstrated the potential to offer original, meaningful
and social applications: BarTab, BlackDrumm, Bottle Rocket,
Check My Campus, Daikon, Faithfeed, Good Call Sports, GroupCard,
Kontagent, Koofers, Mousehunt, Newsbrane, PartyBuzz, Pongr,
ProfessionalProfile, RealGifts, Social Arcade, Socialfly, Teach
the People, Thankster, TrailBehind, Twenty20 Cricket, vDream
Racing, Weddingbook and Wildfire.
Facebook
states on their Website: "From now through early November,
each recipient will build and submit their final applications
and create a video showcasing their work, which will be found
on the fbFund competition page. As round two kicks off, 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. Once round two closes in December,
Facebook will announce five winners who will receive up to $225,000
in non-recourse grants.'
"At
Founders Fund, we're in the business of investing in people,"
said Justin Fishner-Wolfson, Principal, Founders Fund. "We're
optimistic about this diverse group of fbFund recipients and
their potential to enrich the Facebook ecosystem."
At
Accel, we partner with entrepreneurs that have unique, breakthrough
ideas and the courage to be first, said Jim Breyer, managing
partner, Accel Partners. The launch of Facebook Platform
has provided developers with an unprecedented opportunity to
build a business online, and we are looking forward to fostering
the growth of innovative companies through fbFund.
fbFund
fbFund is a seed fund focused on supporting entrepreneurs who
are building their business on Facebook.com or with Facebook
Connect by $25,000-$225,000 non-recourse grants. This fund was
formed to provide resources to the Facebook developer ecosystem
and eliminate some of the challenges of starting a company by
supporting the development of businesses that provide users
with a social and engaging experience. To learn more about fbFund
and the recipients, visit: http://developers.facebook.com/fbFund.php.
Founded
in February 2004, Facebooks stated objective is to give
people the power to share and make the world more open and connected.
Anyone can sign up for Facebook and interact with the people
they know in a trusted environment. They can create groups and
forums that address everything from highlighting Israel as a
democracy, dating, search engine optimization SEO, sports, entertainment,
celebrities, politics and doing business in London, Paris, Tel
Aviv or New York to how to survive a fragile economy, buying
diamonds, cars, stocks, real estate and advocating father's
and children's human rights.
Facebook is a privately-held company and is headquartered in
Palo Alto, Calif.
The
above news content was edited and SEO optimized in Israel for
the Internet by the Leyden Communications Group.
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