If you are a Web 2.0 startup and building services around the Google Platform or something that’s really cool, then their is Good news waiting for you. Google just a while ago announced – Google Gadget Ventures.

Through this venture, Google proposes to write a check of $5,000 for every gadget a developer submits and that gets more than 250,000 unique page views. Additionally, you have the option to write a business proposal and raise seed money of $100,000 to work on your dream project. Check out for more details.

So it is not just Googlers who get funded for their pet projects, any developer from around the world who can build creative products around Google will be funded. This is a natural extension to its massively popular Open Source initiative – Google Summer of Code.