We've been doing something slightly similar with the Awesome Foundation (http://awesomefoundation.org http://awesomefoundation.org) since August 2008 or so. We

We've been doing something slightly similar with the Awesome Foundation (http://awesomefoundation.org http://awesomefoundation.org) since August 2008 or so. We started the Awesome Foundation as an organization that gives away $1000 each month to someone with a goal that we deem 'awesome'. We ask nothing for it in return and think of it like a grant. We throw a party each month for the newest grant winner. No business plan is expected and we've kept the application exceedingly short at 500 word max (I prefer 140 character ones but that's just me). We have expanded into several cities, each giving their own $1000 grants monthly. Providence, RI and NYC are off the ground now, and it looks like there's a London and SF chapter just around the corner. Hopefully we'll have one in nearly every major city before too long. Our goal is purely to spread the awesomeness. We take zero stake in what they've done and have zero expectation that it is a business (a major difference between us and Scale Well). We don't care if it scales, or fails- as long as it was awesome. Some of the things we've funded: ~A giant hammock ~ Visualization content ~ Tools for improved social interacting ~ Cotton Candy Gun ~ An Eco Pod Armada to clean up rivers I'm glad to see more groups pooling together for such awesome things and encouraging micro-financing. Best of luck with it. If you've got any questions, feel free to look us up. (I am a founding trustee of the Awesome Foundation in the Boston Chapter)