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March 27, 2021 09:39 pm

Open Collective Launches Funds that Financially Support Open-Source Communities

"Introducing Funds for Open Source!" reads a blog post on the site for Open Collective. Back in 2018 TechCrunch called them "a non-profit platform that provides tools to 'collectives' to receive money while also offering mechanisms to allow the members of those collectives to spend their money in a democratic and transparent way." But while they're currently serving 2500+ projects, now SD Times reports that Open Collective "is trying to make working full-time for an open-source project an alternative to a career developing for a for-profit company."It believes the steps to achieve this goal include eliminating friction between projects, the communities that support them, and the corporations that depend on them. It is introducing Funds to its open funding management platform to make it easier for companies to invest in open-source projects by making a one-time payment to a Fund, which then redistributes the money to different projects and contributors, rather than paying those projects individually... According to Open Collective, more and more companies are now becoming aware of the need to compensate developers for their work on open-source projects and are willing to fund them. There are a few reasons for this, such as developers taking pride in working at a company that supports open source, access to creators, building a positive reputation within the community, ensuring their own open-source dependencies are being properly maintained, and ensuring open-source projects can scale with their needs.

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