Geekdom will select one company to receive $10,000 every month in 2018.
No. Once a chosen company claims the $10,000, they are not eligible to win again.
Yes. As long as you have not claimed the $10,000, you are eligible to apply as many times as you would like to.
Yes. The $10,000 will be issued to the company, not individual.
Yes. Your time spent engaging with the Geekdom community is highly encouraged.
You will be receiving a Simple Agreement for Future Equity (SAFE), in which the terms of the equity are laid out.
Early stage of formation with proof of concept and looking for advice on scaling or fueling their business is preferred.
A nonprofit organization is not eligible to receive funds in connection with a SAFE. A SAFE is a contractual instrument where an investor may obtain an ownership interest, at certain times and under certain conditions, in the organization that receives the funds. Under the law, no one is allowed to own any interests in a nonprofit organization.