Knight News Challenge 08: Do you know about this program and the funding they offer?

The third year of the Knight News Challenge begins right now, did you know that?
This is the third year that the Knight Foundation, based in Miami, is running an open competition to award roughly $5MM to a group of projects that support innovative online journalism, social media, community discourse and information exchange, all with a specific geographic focus (ie within a specific place).

Applications can be submitted starting September 2nd, and there is a mentoring/incubator site called the Garage where you can submit ideas for peer review and 1: mentoring before you submit them for funding.

After spending the summer talking about investment dollars, the Knight program seems amazingly cool, not only because of its visionary aspirations and desire to support innovation, but because this is funding that does’t require you to sell a percentage of your company (though it does require some open source development or other free access to technology).