The Starknet Foundation has announced the launch of a new grant program with $5 million allocated to support at least 200 cryptocurrency projects. Each project can receive up to $25,000 in USDC.

The program aims to stimulate the growth and development of the Starknet ecosystem by providing funding to projects that have developed minimally viable products but have not yet entered the market. To participate, projects must be actively involved in the Starknet community or participate in hackathons, and they must plan to use or develop tools based on network technologies.

The Starknet team also noted that applicants must present a clear plan for spending the grant funds within the next three months. The results of the applications will be announced within two weeks of their submission.

It is important to note that funding is not provided to projects that have been operating on the mainnet for more than three months or have an established user base. The program is also closed to projects associated with illegal activities such as drugs, gambling, illegal trade, money laundering, firearms, and other types of criminal activity.

Diego Oliv, CEO of the Starknet Foundation, emphasized in an interview with Cointelegraph that the program was developed in response to the key challenges faced by developers in the Starknet ecosystem. It should be noted that the foundation also previously announced the creation of a Gaming Committee to further develop its ecosystem.