Last March, Apple announced the creation of the iFund™, a $100 million capital fund for the creation of applications for Apple’s iPhone and iPod devices. It is administered and offer through Kleiner-Perkins, a Menlo Park-based venture capital firm.
Since the creation of the iFund, Kleiner-Perkins has received over 2700 business plans while funding five companies totaling more than $30 million (.19% success rate).
Since one of the iPhones biggest strengths is the ease of downloading and installing applications; it will be interesting to see which of the companies are successful.
Check out the iFund’s new blog here.
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