Facebook kicks off 3rd fbFund competition

3rd round of fbFund will focus on funding developers leveraging Facebook Connect

If you’re an entrepreneur leveraging Facebook Connect and looking for some money to get your project off the ground, check out fbFund 2009.  

fbFund, is short for Facebook Fund.   Launched in 2007, the fbFund is a $10 million seed fund managed by Founders Fund, Accel Partners and Facebook.  This year, Facebook will select the 50 best teams based on app metrics, developer talent and potential to succeed.  These 50 companies have an opportunity to receive up to $100,000 in equity investment and an invitation to participate in Facebook’s incubator program, held in Palo Alto, Ca.  At the program, teams will have the opportunity to be mentored and receive feedback from Facebook engineers and potential investors.  Last year, Weddingbook won $250,000 and was ultimately acquired by The Knot, Inc.

This year, the fbFund will shift gears and focus specifically on developers creating apps leveraging Facebook Connect for the Web and the iPhone.  

The application process for the fbFund opens today, and the deadline to apply is April 20th, 2009.