Google announces $5 million grant to encourage innovation in digital journalism!

Nothing spells innovation better than VOF! Am I right, ladies?

Google on its new grant offer:
Journalism is fundamental to a functioning democracy. So as media organizations globally continue to broaden their presence online, we’re eager to play our part on the technology side—experimenting with new ways of presenting news online; providing tools like Google Maps and YouTube Direct to make websites more engaging for readers; and investing heavily in our digital platforms to enable publishers to generate more revenue.

But while we’re mostly focused on working with news organizations to develop better products for users, we also believe it’s crucial to encourage innovation at the grassroots level. That’s why we’re giving $5 million in grants to non-profit organizations that are working to develop new approaches to journalism in the digital age. Our aim is to benefit news publishers of all sizes.

More information here:
http://googleblog.blogspot.com/2010/10/5-million-to-encourage-innovation...

This is definitely something to watch out for...exciting stuff!