Zerodha Launches USD 1 Mn Annual Fund to Support Open Source Software Projects Globally Zerodha plans to invest USD 10,000 to USD 100,000 in individual FOSS projects, with a total annual allocation of USD 1 million, potentially increasing the amount as fund management evolves.
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Zerodha has announced the launch of a USD 1 million annual fund to provide financial backing for Free/Libre and Open Source Software (FOSS/FLOSS) projects globally.
The initiative was revealed by Zerodha's Chief Technology Officer, Kailash Nadh, in a blog post on Wednesday, highlighting the company's deep-rooted reliance on open-source technology to drive its success.
Nadh emphasised that a significant portion of Zerodha's growth has been attributed to the use of FOSS, which has played a crucial role in developing their financial technology products and services. This includes everything from programming languages and operating systems to databases, web servers, front-end frameworks, productivity tools, and code editors.
"We are excited to announce the launch of a dedicated fund aimed at providing financial assistance to Free/Libre and Open Source Software (FOSS/FLOSS) projects globally, with an annual commitment of USD 1 million," Nadh stated.
He further explained that the company plans to invest between USD 10,000 and USD 100,000 in individual projects, with a total annual allocation of USD 1 million. Zerodha may increase this amount as they gain more insights into managing the fund.
FOSS refers to software that is free for users to access, modify, and share, with its source code open to the public. This collaborative and transparent model allows continuous improvement of software through community efforts. Well-known FOSS examples include Linux, Mozilla Firefox, and LibreOffice.
To ensure the efficient operation of the initiative, Zerodha will establish a small, dedicated team that will manage the fund in a structured manner, similar to an Open Source Program Office (OSPO). This new entity, referred to as an Open Source Funding Office (OSFO), will focus specifically on funding projects rather than development, Nadh added.
