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App Fund
Posted on February 8th, 2010 28 comments
“CNET and E! Online co-founder Kevin Wendle has teamed with MusicNation
co-founder Daniel Klaus to form
AppFund,
a company designed to help entrepreneurs create and launch iPad and other Tablet based applications” reports Techcrunch. Their web site states:A good App gets downloaded.
A great App gets integrated into your life.
We are looking to invest in entrepreneurs and development teams with revolutionary App ideas focused around:
- Enterprise, Small business B2B, and B2C solutions
- Collaborative entertainment consumption
- Platforms for original content distribution
- Social networking around location based connections, dating, shared experiences, and shopping
- Utilities for everyday use around the house, car, and office
We are looking for Apps that will become utilities in everyday life and Apps that will help business grow. So priority will be given to ideas that:
- Target early adopters and urban dwellers
- Target users 16-39 with higher incomes
- Incorporate video, audio, interactivity, and other capabilities unique to the iPad
- Have a long shelf life
- Have the potential to become “hits”
Readers can take it from here. Hank
28 responses to “App Fund”
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Matt Kompara February 8th, 2010 at 08:28
$5K to $500K is a pretty wide range of funding; when I think of apps, its hard to imagine them costing $500K to develop.
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Byron Young February 8th, 2010 at 09:49
I agree with Matt, 5k to 500k is a pretty wide range for an app. However, the idea is pretty creative because it allows millons of people to design “apps” that can be useful everyday. I do not know what a 500k app looks like or what it can do, but I would sure like to see it!
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Dan Wyss February 8th, 2010 at 10:22
We should all be able to do this after last weeks presentation right? Sounds easy enough…
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Ryan Poxon February 8th, 2010 at 10:35
It’s great how technology has created some very well paying job opportunities. However, I beleive these apps will be created by some end user trying to solve an everyday problem they encounter. To focus on an idea and try to create an app, in my mind, will be extremely difficult to come up with.
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Spencer Abrams February 8th, 2010 at 11:05
I have a hard time seeing too much success come out of this virtual VC firm. Some of the apps we saw in class were useful, but by the time they were developed and ready for market, the iPad/Pod/Phone may be a thing of the past.
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Colby Beacham February 8th, 2010 at 12:06
I hope this fund successfully completes its objectives and funds some new amazing apps, should be an interesting thing to watch.
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Michael Tym February 8th, 2010 at 12:38
This company is really cool. Hopefully it helps a lot of people who have the ideas for “hit” apps but just don’t have the resources or the skill to make it all happen.
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Jeff Olen February 8th, 2010 at 13:09
5k and 500k is a very wide funding for an app. I can’t think of something that will cost a half million dollars. I think whoever comes up with something that can cost that much shouldn’t be your average joe. I mean only someone with a lot of experience could come up with something like that. But sounds very interesting and can’t wait to see what comes out of it.
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Anthony Sikorski February 8th, 2010 at 13:43
They seem like they want apps that are trying that to achieve new heights. It seems like a good idea to start something like this but, I don’t know if it will succeed. I wonder how they will market this to all the app creators out there.
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Sandino Cavallo February 8th, 2010 at 14:42
It seems like appfund wants to develop some killer application ideas that people have. It seems like there is a flourishing market for apps that makes new mobile devices even more attractive.
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Kelly Plantz February 8th, 2010 at 14:54
I am surprised that Apple didn’t make the Ipad more compatible with applications that are created for the iPhone and iTouch. I think this is a great market to get into because there is a lot of money that could be made.
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Kyle Egbert February 8th, 2010 at 15:03
Kinda wish I had time to pursuit something like this and make some money. Oh well, school comes first.
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I think having people in the real world develop applications that are practical to everyday life is an important goal for these types of businesses. Glad to see this focused attention.
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Jaideep Singh February 8th, 2010 at 16:21
Google had a app competition when their android was launched. The makers of coolest apps were awarded similar prizes.
http://code.google.com/android/adc/
I do believe that there are apps that may require $500K; for example 3D gaming, encryption, cloud computing, video streaming etc. These kind of software require large investments.
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Molly Longest February 8th, 2010 at 16:33
I’m interested to see what new apps come out of this fund.
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Brett Cohen February 8th, 2010 at 17:22
I hope programs like this don’t flood the app market and make it difficult for others to get into it.
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Krystal Anaya February 8th, 2010 at 19:45
Cool to see that anyone can make an app like we learned in class the other day. And i think it is a good thing that they are encouraging people with funds to come up with creative ideas that will help normal day life. I think it will boost people to think really hard.
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David Hyman February 8th, 2010 at 20:41
Well after listening to the speaker in class, making an app isn’t that difficult in the first place, and this just makes it even easier. All one needs to do is think of an idea for an app!
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Brian Corley February 8th, 2010 at 20:43
For 500 thousand I hope its the best app ever seen by mankind. If its the guy from CNET helping run the company i am sure it will be great.
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Colleen Cahill February 8th, 2010 at 20:49
Apps really are a growing market. It’s exciting because as we learned they don’t require a tech genius to make which opens the doors to people without the tech knowledge but with innovative ideas. I hope to see some brilliant apps coming out this year.
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Tony Coiro February 8th, 2010 at 21:42
That is, presumably, a ton of funding for an app. I had an idea for one the other day, it’d let you send a text message at a predefined time. For example, if your roommate wanted you to remind him to get his football cleats before he left for class or even to send people texts on their birthdays. Kind of impersonal, but certainly would be useful. If anyone wants it, feel free.
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Ravi Mody February 8th, 2010 at 21:45
There really is going to be an app for literally everything in the next few years. With up to 500k in funding, this is going to really blow up.
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Frank Hettlinger February 8th, 2010 at 21:52
Yet another amazing way for the average American to express themselves. The possibilities for this seem endless.
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Keegan Klauke February 9th, 2010 at 00:40
in response to matt K.
Mostly this funding will go towards sustaining the person developing the application, or to pay a true developer to code your “vision”. I suggest asking a lot of web developers how much a simple website costs. an application will probably cost more because it is a newer technology. in my experience to get a professional website done it costs around 20k to 40k depending on what you want done.
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Joseph Mecca February 9th, 2010 at 01:33
This is a another great opportunity to get our ideas out there. What I really enjoy most about our entrepreneurship class is the information on opportunities to grab life by the horns and seize the chances to make big dreams a reality.
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Courtney M. Ctonk February 10th, 2010 at 19:29
Really? an app on how to make successful and innovative apps? i really have to start putting some ideas into motion. I am definately okay with the extra cash flow…be it 50k, or 5k, either way, im a few k’s richer!
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Steve Maniago February 11th, 2010 at 17:08
I personally do not like the fact that apps are beginning to run everyones lives. I mean people should be able to do things for themselves, instead of finding “an app for that.”
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Mahmood Alrawi February 14th, 2010 at 17:51
makes me want to get a mac and learn how to make apps this summer during my free time. thats a lot of money just sitting out there.
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