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The fbFund will choose a few Facebook Platform developers to get up to $100,000 in funding and spend the summer in Palo Alto, Calif.
Eighteen companies and two nonprofits have been invited to spend the summer learning and building at the social network's Palo Alto, Calif., headquarters.
This year, the big differences are that FBFund awards are in the form of equity investments, not grants, and that many of the finalists are now Facebook Connect or iPhone apps.
At FBFund Demo Day, the most promising services are not on Facebook per se. The new way to leverage Facebook is to use the network, but within destination sites
The second annual FBFund investment grant competition has already given out $25,000 apiece to 25 finalists, and five winners will receive $225,000 each.
They now have a chance to apply for $225,000 in grant money in the FBFund developer competition's final round--but only if they successfully build the apps first.
The first round of the company's FBFund grant contest has concluded, with 25 finalists to be announced on September 22.
The company's FBFund grant program has never been one of its most publicity-friendly projects, but a new contest that will give away $10 million total may change that.
The company announces a new program called FBFund to provide grants to developers who are interested in creating applications for the Facebook Platform.