John Collison

Fast Grants: YC-style science funding decided in under 48 hours

Shaan describes Fast Grants (created by Stripe's Patrick/John Collison), which fixes the slow science-grant system by making a $10K-$500K funding decision in under 48 hours, wired immediately. Backers include Paul Graham, Reid Hoffman, Chris Sacca, and Elon Musk, with over $15M committed.

“So Fast Grant is basically a $10,000 to $500,000 decision made in under 48 hours. If you approve the grant, if the grant is approved, you receive the payment as quickly as can be wired to your account. Now, and so they have the Carlson brothers behind it. They have Paul Graham, Reid Hoffman, Chris Sacca, Elon Musk, a whole bunch of different people. So they have— they've committed over $15 million already in fast grants.”