Intel unveils $100m plan to juice AppUp Center devs
Mucho mazuma for 'application developer-centric equity deals'
Intel Capital has unveiled a new $100m AppUp Fund to jumpstart companies developing content for its online Intel AppUp Center store, which is currently limited to software running on Windows XP, Windows 7, and MeeGo devices based on the Atom processor.
"The Intel Capital AppUp Fund will help encourage the creation of companies interested in delivering or enabling applications that enhance and extend the online experience for the 15 billion devices expected to be connected by 2015," said Intel Capital president Arvind Sodhani in a canned statement, released at the Intel Capital Global Summit currently underway in Huntington Beach, California.
In a spurt of fine investor-speak, the statement notes that the Fund will invest in companies developing "infrastructure, middleware, innovative applications and digital content across the continuum of connected devices in application developer-centric equity deals all over the world."
The first two Fund investments, announced at the Summit, are going to Urban Airship, a Portland, Oregon mobile-marketing enabler, and Germany's 4tiitoo AG, developer of the MeeGo-based WeTab OS fondleslab operating system. The company's hardware arm, WeTab GmbH, makes the WeTab tablet – and we presume you can guess which operating system it runs.
At the Summit, Intel also announced 10 additional investments totalling $40m, in companies in China, India, Japan, South Korea and Taiwan. Those investments, Intel said "reflect Asia's position at the forefront of global technology innovation."
Intel Capital said that a total of $45m in investments were announced at the Summit, and with the Asian companies getting $40 million it's clear how much was left over for Urban Airship and 4tiitoo to split, although a breakdown was not revealed.
If you're interested in getting your slice of the Chipzillian investment pie, know that Intel Capital has eight offices spanning the globe – check out their contacts page to discover which office you should visit, hat in one hand and business plan in the other. ®
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