The Starknet Foundation has announced a new $5 million seed grant program to support emerging projects on the network, aiming to boost blockchain innovation. The Seed Grants Programme will provide at least 200 teams with $25,000 in USD Coin to help them launch their projects on Starknet. The grant targets projects that have already developed a minimum viable product or proof-of-concept and will use a simplified application and evaluation process to maximize engagement. The decision on grants will be made approximately two weeks after submission, with priority given to those who have previously participated in Starknet.
Starknet has been witnessing increasing adoption as developers migrate to its ecosystem to benefit from low fees, scalability, and developer-focused tools. The seed grant program is designed to provide projects with the financial backing they need to thrive in this ecosystem. The platform is known for its novel approach to scaling Ethereum and has become home to a rapidly growing Layer 2 (L2) developer community. According to Electric Capital’s 2023 Developer Report, the number of monthly developers on Starknet rose to 730 in December 2023, marking a 265% increase from 2021.
In collaboration with Nevermind, Starknet is also offering a $1 million initiative to support applications and products on the network. This initiative is open to teams at all stages of development, regardless of whether they have a fully developed product, a proof of concept, or just 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. Experienced engineers and advisors from Starknet will be available to provide design advice, technical guidance, and support to the selected teams.
The Starknet Foundation is dedicated to advancing blockchain development by providing financial support to promising projects on its platform. The Seed Grants Programme aims to give a final push to projects that are ready to launch on Starknet, while the collaboration with Nevermind provides additional funding and support to teams at all stages of development. Both initiatives seek to enhance the growth of the Starknet ecosystem and encourage innovation within the blockchain space. With a rapidly growing developer community and a focus on scalability and low fees, Starknet is positioned as a platform of choice for builders looking to leverage blockchain technology for their projects.
