Kleiner Perkins Announces Funding for iPhone apps

It really isn’t too surprising, but finally someone has recognized the incredible business potential of applications for the iPhone and mobile technolgies.  Kleiner Perkins, a VC out of Menlo Park, CA, announced they are creating an iFund of $100million for the development of applications for the iPhone. According to their website, “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.”

This seems like a great move to me. With so many companies now sprouting up which offer services to convert your website to a mobile site, there is a lot of potential with the mobile scene. Who doesn’t want to be on the internet on the go?

Not only is KPCB working with their entrepreneurs, but they are also working directly with Apple for “market insight and support”. If I were a developer I would jump on that wagon as soon as possible. Do you think this will create another gold rush like Facebook apps, or are we going to get more meaningful apps out of it?

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