Grants
Grants have emerged against the backdrop of the OSS (Open Source Software) culture. It can be said that grants are a fundraising method that was born out of the need to monetize and scale OSS projects. The motivation behind OSS and grants is closely intertwined. How to Proceed with Grants
Grants are typically based on an open call system. After submitting an application form, the documents are reviewed, and if approved, there will be a web interview with the funding provider. This is the usual scheme for grants.
When using grants for fundraising, it is common to set milestones between the funding provider and the recipient. Based on these milestones, a certain amount of funding is disbursed. The funding provider typically sets milestones such as "developing a product using our company's services."
Background of the Popularity of Grants:
- Time-consuming process until funds are received
- Administrative procedures and notifications to authorities
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Advantages of Grants:
- No regulatory restrictions
- Low cost of explanation
- No administrative work involved
- Acts as promotion
Disadvantages of Grants:
- Possibility of receiving a small amount of funding