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Oct. 20, 2014, 10:34 a.m.
LINK: knightfoundation.org  ➚   |   Posted by: Joshua Benton   |   October 20, 2014

The Knight Foundation (disclosure: a funder of Nieman Lab) gives money to a lot of journalism and journalism-adjacent projects. But they often work through a variety of contests and programs that aren’t always clear to outsiders. (Most famously, the Knight News Challenge, which has “news” right there in the name, has lately been funding projects around libraries, online freedom, and open government. Worthy causes all, but often confusing to people who are looking for financial support for their news startup.)

That makes this post by Knight’s Andrew Sherry useful — it outlines the various routes to funding currently available. The three most important to journalism types (emphasis mine):

If you have a news or information idea you want to develop and test, the Knight Prototype Fund may be for you. This Media Innovation initiative provides $35,000 to turn ideas into prototypes. There are several cohorts of winners each year; the most recent winners can be seen here. The next application deadline is Nov. 1…

The Knight News Challenge, which will next open for applications in early 2015, is Knight’s best known way of funding media innovation. Challenges usually have a theme — libraries, strengthening the Internet, Open Gov, networks — and the number in a year may vary. Increasingly, though, we’re emphasizing the Prototype Fund as the gateway for news and information projects

Separate from Knight’s grantmaking, the Knight Enterprise Fund provides early-stage venture funding for media innovation. The fund invests in for-profit companies that can strengthen the news and information ecosystem. Along with investment, the fund brings Knight’s media industry network and knowledge to the table. The fund is drawn from Knight’s endowment, not its grantmaking budget.

In other words, if you’re a typical Nieman Lab reader, unless you’re a for-profit of the sort that looks for substantial venture capital, the Prototype Fund process is probably the best way to seek funding from Knight. The positive side of that is that the turnaround time is much shorter than the News Challenge used to offer, and the number of projects funded is higher; the downside is that the dollar figures are smaller than the News Challenge used to offer. But a successful Prototype Fund grantee could certainly move up to bigger funding down the road.

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