Sequoia Funds New Equity-Free Fellowship to Support Open Source Developers
In May of last year, Sequoia Capital introduced the Sequoia Open Source Fellowship, an initiative aimed at supporting open source software developers. The program initially offered a single stipend to a deserving developer, but this year, Sequoia is expanding its reach by inviting applications from up to three developers annually.
Why Support Open Source Developers?
Sequoia Capital’s decision to fund open source software developers may seem counterintuitive, as it doesn’t guarantee a direct financial return on investment. However, the firm believes that supporting these developers is essential for the success of its portfolio companies and the entire tech ecosystem.
"Open source developers are the backbone of our industry," said Lauren Reed, Sequoia partner. "They create foundational projects that have real-world adoption, but often struggle to balance their OSS project with a full-time or multiple part-time jobs."
Two Types of Open Source Entities
Sequoia Capital is making two distinct financial commitments to different types of open source entities:
- Foundational Projects: Grants will be provided to support foundational projects that might be instrumental to one of the companies Sequoia has taken a direct equity stake in.
- Companies with High Impact: Funding will also be allocated to developers working on projects with high impact, allowing them to focus entirely on their project without worrying about living expenses.
How to Apply
Starting today, applications from "any developer" working on an open source project are accepted. Sequoia will consider these applications on a rolling basis, making funding commitments as necessary. The application process is straightforward:
- Submit your application through the designated portal.
- Provide information about your open source project and its potential impact.
- Share your experience and qualifications as an open source developer.
Why This Matters
Sequoia Capital’s decision to support open source developers sends a clear message: the firm recognizes the value these individuals bring to the tech ecosystem. By providing grants, Sequoia is enabling developers to focus on their projects without financial stress, fostering innovation and growth within the community.
In an industry where software development is increasingly driven by open source principles, it’s essential for investors like Sequoia Capital to acknowledge the contributions of these unsung heroes.
Conclusion
Sequoia Capital’s Open Source Fellowship program is a testament to its commitment to supporting innovation and growth within the tech ecosystem. By providing grants to developers working on foundational projects or those with high impact, the firm is acknowledging the crucial role these individuals play in shaping the industry.
If you’re an open source developer looking for support, don’t hesitate to apply. Your project might just be the next game-changer in the world of software development.
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