Google has launched a new pilot program called Google Gadget Ventures that offers grants and seed investments to gadget developers and gadget-related businesses. This will definitely provide a motivation to coders for developing even better & useful Google gadgets.

There will be two kinds of funding:

1) Individuals or businesses whose gadget receives atleast 250,000 pageviews per week in the gadgets directory can apply for a $5000 grant by providing a one-page proposal on how you’d like to improve the current gadget. These are not loans or investments and no future repayment is required.

2) Google will make $100,000 seed investments in companies that either start as a Google Gadget or have a large Google Gadget component. In order to be eligible for a seed investment, you must have received a $5,000 grant, and you must propose a plan for making your gadget financially sustainable.

So if you are a developer of one of the more popular gadgets, send an email to gadgetventures at google dot com with your proposal!