The Knight Community Information Challenge will offer $20 million over five years to support initiatives in the US aimed at using media and technology to better serve local communities with information.
The foundation will also fund teams of specialists, who will help the projects plan and implement their ideas, a press release said.
Interested organisations are asked to submit ideas before September 15 with a selection of applicants selected to submit a second round of proposals.
Those chosen must have matching funds in place to secure the funding from the Knight Foundation.
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