The name of the organization is "AI Grant", because they started out giving grants.
They're not saying that they give grants now.
Sounds like they need to rename their organization to AI Investments.
There is a very clear section titled "Wait, is this a grant or an investment?"
Exactly, and yet they still call it a “grant.” Would you have no problem if Amazon called themselves a charity?
Huh?
>> Wait, is this a grant or an investment?
> It is an investment.
"The AI Grant program:"
Easy to misunderstand. The word "investment" does not show up until way down the page.
smile.amazon.com
So it’s in exchange for equity in the company? They don’t say how much?
It's on an uncapped mfn safe, so the amount of equity will be determined by your other investors.
Okay thanks. Just wondering how it compares to YC. I know YC says mfn safe too but they say 7% (and it’s 500k and obvious differences in experience, mentoring, process etc)
Yep, basically this $250k is on the exact same terms as $375k of the YC $500K. (The first $125k of YC is for 7%, the next $375 is uncapped mfn.)