Ramit! do you really think that unavailability of $2,500 could be holding someone back from implementing his super-innovative entrepreneurial idea? I suggest that you mix a few more things with you bounty? something that an entrepreneur might actually need and want. $2,500 is way too down the list.
Honestly, isn't this identical to YCombinator, just without him taking 5-7% of the company? YCombinator gives like $10,000 to a single developer---not a huge amount of money, but enough to get started. $2500 is the same idea---you give a small amount of money for someone to create a project. I think it's an amazing idea.
disclaimer: I'm Ramit's brother and I'm not qualified to apply :(
There is a difference. The amount of money given is such that you have time to work on a product due to it.
That amount of 'scholarship' is not enough to develop something fulltime and if you're only doing it in your free time, then, you probably have enough incentive anyway.
Such as contacts - introduction to social enterprise heavyweights as part of the award would build credibility and improve the success rate. The Y-C network is far more important than the start up money in the long run.
Comments
Ramit! do you really think that unavailability of $2,500 could be holding someone back from implementing his super-innovative entrepreneurial idea? I suggest that you mix a few more things with you bounty? something that an entrepreneur might actually need and want. $2,500 is way too down the list.
Honestly, isn't this identical to YCombinator, just without him taking 5-7% of the company? YCombinator gives like $10,000 to a single developer---not a huge amount of money, but enough to get started. $2500 is the same idea---you give a small amount of money for someone to create a project. I think it's an amazing idea.
disclaimer: I'm Ramit's brother and I'm not qualified to apply :(
There is a difference. The amount of money given is such that you have time to work on a product due to it.
That amount of 'scholarship' is not enough to develop something fulltime and if you're only doing it in your free time, then, you probably have enough incentive anyway.
Such as contacts - introduction to social enterprise heavyweights as part of the award would build credibility and improve the success rate. The Y-C network is far more important than the start up money in the long run.