Apple is very generous to us. Firstly they released iPhone SDK, showed some nice games and applications, and now they are willing to give 100 Million USD to us, well, at least the ones that know how to code. Yes that’s right. Apple has unveiled a $100 Million iFund initiative to invest in companies which develop applications for iPhone and iPod Touch.
100M investment initiative is being provided by Kleiner Perkins Caufield & Byers. They will fund the companies with market-changing ideas and products for the iPhone and iPod Touch.
“A revolutionary new platform is a rare and prized opportunity for entrepreneurs, and that’s exactly what Apple has created with iPhone and iPod touch,” said John Doerr, Partner at Kleiner Perkins Caufield & Byers. “We think several significant new companies will emerge as this new platform evolves, and the iFund will empower them to realize their full potential.”
The iFund will focus on areas including location based services, social networking, mCommerce, communication, and entertainment.

iFund will back innovators pursuing transformative, high-impact ideas with an eye towards building independent durable companies atop the iPhone / iPod touch platform.
KCPB will help not only money wise, but also give assistance with company building expertise, business development relationships and access to its network of entrepreneurs.
“Developers are already bursting with ideas for the iPhone and iPod touch, and now they have the chance to turn those ideas into great companies with the help of world-class venture capitalists,” said Steve Jobs, Apple’s CEO. “We can’t wait to start working with Kleiner Perkins and the companies they fund through this new initiative.”
If you believe you have what it takes, apply here.