John Deere announced the creation of a fund for 100 million to invest in applications for the iPhone
John Deere (a legendary investor, partner of KPCB, which invested in Google, Sun, Amazon) announced the creation of an iFund fund (100 million) to invest in iPhone application developers. The same fund (only 10 million) was created by the Bay Partners Foundation for Facebook application developers.
IMHO for Apple is a very good sign. The Kleiner Perkins Foundation and the rest are Silicon Valley legend. And the focus on the iPhone shows the market that if such icons invest, it means there are very serious prospects (KPCW, with its presence, even in weak projects, makes them market leaders).
So it is not clear under what conditions the fund will invest. Bay Partners gives grants in the amount of 50-100k for the right of the first night when searching for the next investment rounds. I do not believe that Kleiner and Co. will give grants. ')
Read more at TechCrunch and KPCB