Starknet Foundation Enhances Blockchain Innovation Through $5 Million Grants Program
The Starknet Foundation has recently announced a groundbreaking initiative to support emerging projects on the network by launching a $5 million seed grant program. This program aims to boost blockchain innovation and provide the necessary resources for project development.
The Seed Grants Programme will offer financial support to at least 200 promising teams, providing them with $25,000 in USD Coin. These grants will serve as the “final push” to help projects launch on Starknet.
The grant is specifically targeted towards Starknet-related projects that have already developed a minimum viable product (MVP) or proof-of-concept. To maximize engagement and streamline the process, a simplified application and evaluation process will be implemented. Furthermore, the grant will be distributed quickly, with a decision provided approximately two weeks after submission.
While priority will be given to those who have previously participated in Starknet, the opportunity is open to all developers who wish to take advantage of the benefits provided by the network.
Starknet has experienced a significant rise in adoption as developers migrate to its ecosystem to capitalize on its low fees, scalability, and developer-focused toolset. This aligns perfectly with the purpose of the seed grant, as it offers financial support to projects in need.
According to Electric Capital’s 2023 Developer Report, the number of monthly developers using Starknet has increased to 730 in December 2023, a remarkable 265% rise from the 200 developers using the platform in 2021.
In addition to the seed grant program, Starknet has partnered with Nevermind to launch the Starknet x Nevermind Grant, which aims to support applications and products on Starknet. This initiative offers an additional $1 million to teams at all stages of development, whether they have an existing product to integrate into the Starknet ecosystem, a comprehensive proof of concept, or a rough idea. Grants ranging from $50,000 to $250,000 will be provided to builders to advance the Starknet ecosystem with innovative, user-facing products. Starknet will also provide experienced engineers and advisors to offer design advice, technical guidance, and support.
Starknet’s strong community and ecosystem will be utilized to facilitate partnerships, collaborations, and future funding opportunities for grant recipients.
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