During today’s Apple iPhone SDK event, John Doerr took to the stage to announce a $100 million fund to back iPhone application startups, ”I can’t wait to see the great new companies that we build together”.

KPCB’s iFund is a $100M investment initiative that will fund market-changing ideas and products that extend the revolutionary new iPhone and iPod touch platform. The iFund is agnostic to size and stage of investment and will invest in companies building applications, services and components. Focus areas include location based services, social networking, mCommerce (including advertising and payments), communication, and entertainment. The iFund will back innovators pursuing transformative, high-impact ideas with an eye towards building independent durable companies atop the iPhone / iPod touch platform.

Steve Jobs is certainly on a mission to turn the Apple iPhone into an industry of it’s own and the announcement of the ‘iFund’ will certainly kickstart a few iPhone developers into action.

[via KPCB]

Post from: Talk iPhone - iPhone News Blog

iFund $100 Million Investment Fund For iPhone App Startups