Developers who seek to turn their ideas into realisation understand that grants serve as a crucial catalyst for driving their innovation. Grants can provide the resources and support needed to bring their projects to fruition. But the path to acquiring these grants is often challenging, however, the Internet Computer Protocol continues to revolutionize the Web3 space by making grants readily available for developers, to bring their ideas to life.
Let’s take a look at how you can qualify for a grant on the Internet Computer Protocol. To be eligible for an ICP grant, your project should meet the following criteria:
No Prior Funding
ICP aims to support fresh, innovative ideas and not grant choppers. Ensure your project does not have raised grants or funding on other platforms. Detection of such an act can be termed as fraud and the project will be penalised.
Innovation
Ensure your project is truly innovative, pushing the boundaries of what's possible within the blockchain and decentralized application space. Clearly define your project vision and objectives. What problem are you aiming to solve? What impact do you hope to achieve? Articulating a compelling vision for your project is essential for garnering interest and support from ICP.
Utilization of ICP Features
Ensure your project utilizes some of the new main features of ICP, including Vetkeys, ChainKey BTC integration (CKBTC), ChainKey ETH (CKETH), HTTP outcall, or Threshold ECDSA. These features are at the core of the ICP ecosystem and can significantly enhance your project. These features get you in our crosshairs fast.
Built extensively on ICP
The Internet Computer Protocol is built on principles of decentralization, scalability, and security. ICP provides for all Dapp requirements which means your application is to be built completely on ICP, from the smart contract, backend and frontend deployment.
Project eligibility on ICP
Ensure your application must be built exclusively on ICP and not just a partial integration to be eligible for the grant.
Structured to survive
Ensure that the project has an experienced team with the intent and plan to scale and generate active wallet users. ICP is often interested in the capabilities and expertise of the individuals or teams behind the project. Highlight the qualifications and relevant experience of your team members, including technical skills, domain expertise, and previous achievements. The project must not be abandoned after deployment.
ICP Certified Developer
Ensure your team includes an ICP Certified Developer who has successfully shipped off a canister, demonstrating a solid understanding of the ICP platform. Demonstrating a track record of success can enhance your credibility as a grant recipient.
Three Stages of Funding
ICP offers three stages of funding to support projects of various sizes:
- $5,000 Funding: This grant is designed to kickstart small projects or to provide initial funding for larger initiatives. It's an excellent opportunity to commence development.
- $25,000 Grant: Larger projects can apply for this grant justifiably, provided they present well-documented milestone reports. This grant will help support the deployment and development of your project.
- $100,000 Grant: The highest grant tier is available to projects that have successfully utilised the $25,000 grant with complete milestone reports. It's intended for even more substantial projects that are making significant strides in the ICP ecosystem.
Before applying, please note that ICP typically does not accept applications that propose the use of grant money towards:
- ICO launches and conducting token sales
- NFT drops alone, without a novel technical component
- Direct rewards to end users
- Legal and marketing support
- Hiring developers
- Mockups or product roadmaps only
Following the submission of your application, you can expect the process to proceed as follows: