Zerodha has launched a $1-million annual fund to support Free/Libre and Open Source Software (FOSS/FLOSS) projects globally.
In a blog post, Kailash Nadh, Zerodha’s Chief Technology Officer, shared that the company has built its financial technology tools using a FOSS stack. This approach has played a key role in Zerodha’s success. It includes many tools such as programming languages, operating systems, databases, web servers, and front-end frameworks.
“We are excited to announce the launch of a dedicated fund aimed at providing financial assistance to Free/Libre and Open Source Software (FOSS/FLOSS) projects globally, with an annual commitment of $1 million,” he wrote.
Zerodha will invest between $10,000 and $100,000 in individual FOSS projects, with $1 million allocated annually. This amount could increase as the company gains more insight into how to run the fund.
FOSS software is free to use, modify, and distribute, with the source code open for anyone to improve. This model encourages collaboration and transparency. Well-known examples include Linux, Mozilla Firefox, and LibreOffice.
Zerodha will set up a small team to manage the fund and ensure smooth operations. This team will run the initiative in a structured way, similar to an Open Source Program Office (OSPO), but focused solely on funding projects. Kailash Nadh described it as an Open Source Funding Office (OSFO).
