Google to Fund Gadget Development

Google presented today a new program called Google Gadget Ventures aimed at funding the development and improvement of new gadgets. This new pilot programs breaks into funding options, grants and seed investment.

Grants in the amount of $5000 will go to those popular gadgets with over 250,000 pageviews and which the developer is interested in improving. Seed Investments go as high as $100,000 and will go to people who intend to build a business around Google’s gadgets.

Both options involve prior application and approval by Google.