Zerodha, a leading financial technology company, has announced the establishment of FLOSS/fund, a new initiative dedicated to providing financial support for Free/Libre and Open Source Software (FOSS) projects worldwide.
The fund will allocate $1 million annually, with individual projects eligible for grants ranging from $10,000 to $100,000.
This initiative aims to address the growing concerns over the sustainability and funding of open-source projects, which have become critical components of modern technology infrastructure.
A Commitment to Open Source
Zerodha’s commitment to FOSS stems from its own success built on a robust open-source technology stack.
The company recognizes that many of its innovations would not have been possible without the contributions of the global open-source community.
The company aims to give back to the community that has contributed to their success.
A Structured Approach to Funding
The FLOSS/fund will operate with a dedicated team, drawing on insights from their experience supporting various projects and initiatives in India and beyond.
The team will develop a structured approach to funding, moving away from the ad-hoc methods that have characterized previous efforts to support open-source projects.
An internal selection committee will evaluate funding applications, with plans to establish a public selection process involving community voting in the future.
Introducing funding.json
To streamline the funding process, Zerodha is introducing a standardized funding.json manifest file.
This file will allow open-source projects to signal their financial needs and make them discoverable to potential funders.
By hosting this file on their repositories or websites, projects can provide essential information about their financial requirements and accepted payment methods.
The FLOSS/fund team will index these applications, making them accessible through a public directory.
A Call to Action
Zerodha encourages FOSS projects globally to apply for funding through this new initiative.
The announcement of FLOSS/fund comes at a crucial time when many open-source projects face financial challenges.
With increased scrutiny on funding models and sustainability, the initiative aims to foster goodwill and reciprocity within the FOSS community.
