Funding for Every InOut 7.0 Project

Aniket Raj -

Support your favorite projects

We strongly believe in the potential the projects at InOut possess, and we have for long wanted to support our hackers for their builds. It's about time that they are truly rewarded, above and beyond the usual winning prizes. Instead of solely letting the judges decide, we want the community to also choose their favorite projects, and support them with as little as ₹10.

$5000 Devfolio Support Fund

We take the audience's real preferences into account. Everyone with an internet connection will have the ability to support projects. Based on the distribution of the contributions each project receives, we will use the quadratic funding mechanism to determine how much they further receive from the Devfolio Support Fund.

Since the objective is to judge which projects are actually useful for a larger population, the number of contributions (even if very small), is given relatively higher weightage than the size of the contributions.
E.g., a project which receives a sum of ₹5000 from 100 supporters, will get MUCH more funding than a project which got the same total of ₹5000 but only from 10 supporters.

Public Goods

Our motive behind introducing Quadratic Funding is to involve the community in the judging process and help builders win the amount they deserve. We encourage our community to build open-source public goods that benefit the largest parts of society. If you believe that a project can be beneficial to you and many others, you can now support them with as little as ₹10. The amount might be small, but as per the quadratic funding formula, it can lead to the project getting a much bigger amount from the Devfolio Support Fund.

This money will hopefully be able to support, thank, compensate, and even subsidize the further development of these projects.

You can read more about Quadratic Funding here.

How to support builders at InOut 7.0?

In order to fund a project submitted to InOut 7.0, proceed to do the following steps:

Step 1 🔗

Visit the InOut Submissions page and click on the project you'd like to fund.

Step 2 💰

Go to the "Support the Builders" card, and enter the amount you'd like to fund (min. ₹10)

Step 3 🖱️

Click on "Back this Project", and a window will pop-up. Enter your phone number and Email ID, and click on "Proceed".

Step 4 🤝

Proceed with your preferred method of payment.

Step 5 📲

For UPI payments, you can either enter your UPI VPA and proceed to pay or scan the generated QR code with your preferred UPI Payment App. You can then proceed to complete the payment.

Step 6 🥳

Congratulations, you have brought their project one step closer to its goals 😄

Note to Hackers at InOut 7.0: To make the best out of our Devfolio Support Fund, we suggest running your own little funding-campaign on LinkedIn, Facebook, Instagram, WhatsApp, Telegram, Reddit. The perfect recipe for your campaign can be:

  • A crisp one-liner
  • Concise Description
  • Cover Image
  • Submission Link to your Project
  • Link to this blog to give your supporters more context on contributing to your project

Make sure you pitch your project to the right demographic of people to get the maximum number of supporters to back your project.

Timeline:

  • Community Funding: 22 Dec '20 - 03 Jan '21
  • Contribution Review: 04 Jan '21 - 06 Jan '21
  • Hacker Payouts: 07 Jan '21 - 10 Jan '21

We are excited to see the results of our experiments with InOut and hope to see your contributions as well :)

Your contribution will support the builders and motivate them to keep building.