Developers who have gadgets that get around 250,000 pageviews a week will be considered for the $5000 grant. Of these people, some may even be selected for $100,000 in seed funding to start a real business that heavily uses the Google platform.
The developer community is an extremely important part of our development ecosystem. Our hope for Google Gadget Ventures is to enable developers to grow and diversify the universe of gadgets in a profitable and sustainable way. Ultimately this will result in a wider variety of engaging and useful online content, which is a win for our users.
It will be interesting to see what kind of gadgets will be developed given the money at stake. This will definitely attract some real talent to the Google Gadget platform.