Tyk ran a fund back in March where they would give micro-grants to people working on side projects. They've decided to do it again and applications are open until December 20th
Here's a direct link to the application if anyone's interested: https://tyk.io/fund/
So basically they don't actually give you the $500 directly (which is probably for the better), but they'll be paying for any services that you need to get your project off the ground + provide guidance. You'd have to apply via their website, and they'll reach out to you--do a quick interview and if they like what they see they'll back your side project.