MASHABLE -- Aug 4 -- Facebook has just kicked off this year's fbFund competition for application developers where 25 developers will get $25,000 grants and the best 5 application ideas will each get $250,000. The grants are free and clear, but if the developers want more funding, the grant?s backers get first dibs. Applications are due by August 29th, with winners of the first round announced in late September.

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