MailChimp launches $1 million integration fund

The best part of this idea is that they're starting a fund for Mailchimp API integration but not taking any equity.<p>Why is this cool?<p>Because most...no, all funds that I've seen take equity.<p>They're rewriting the rules of how a fund like this works and in return they'll receive more press and a greater benefit than they would if they ran it as a standard $1 million fund seeking small 1%-10% equity stakes in return for funding.<p>Mailchimp is the most innovative email marketing company I know.

The initiative is great, a much needed helping hand to a struggling start-up, but:<p>" By submitting your idea:<p>You grant us a non-exclusive, perpetual license to reproduce and publish internally all information and ideas included in your submission form.<p>Please be aware that we may be independently developing features that overlap with your submission. "<p>At least they are upfront with it :)

They arent taking any equity but the companies will use mailchimp which is a paid service. So either way, Mailchimp will probably get something out of it.