Apple Releases iPhone SDK, VCs respond with $100 million “iFund”

To coincide with the much anticipated release of the iPhone Software Development Kit, venture capitalist firm Kleiner Perkins Caufield & Byers has initiated an “iFund” meant to provide additional motivation to would-be developers. The VC firm is anticipating a new wave of games, applications and widgets, but it is also looking to create whole new startup companies based on the iPhone 2.0 platform which John Doerr views as as being “bigger than the personal computer”.

Meanwhile, Apple has announced the opening of the App Store where users will be able to purchase and download applications for their iPhones. Software developers will maintain 70% of revenue for each application sold, according to CNN Money. By comparison, Google’s Android Developer Competition will be awarding up to $10 million to developers across two competitions. Nokia has been running similar competitions for the S60 platform with its Mobile Rules business plan and application competition.

As of today developers can download the new iPhone/iPod Touch SDK from Apple’s Developer site. Accelerated 3D graphics, location-enabled applications, and a desktop iPhone simulator are included in the package. According to Engadget, Apple is also offering to test “certified” applications. The 2.0 update will include AIM, ActiveSync support for Exchange, and games such as TouchFight and Spore. Consumers, however, will not be receiving the software upgrade until June.