I'm sure the people behind this have good intentions and the initiative could work out, but it's also a little bit bizarre that they have only secured "partial" funding yet are offering to throw 100k at underfunded ideas.
- it'll be easier to persuade investors to put in money when there are good applications (then "unconventional background" applications will not have big impact here, people will probably still look at the conventional criteria)
- with some similar program exist already (aigrants), 100k is needed to compete with other program, to attract applicants, to grab your attention in news title...
I'd assume that two basic things required for such an endeavour are A. to actually have the money you want to give out and B. to have the trust of the community.
Since they admit that they don't have the money, and neither their website nor the less than honest comment by the "founder" (of what? for now, a website) inspire any trust, it seems like this whole thing can safely be ignored.
