Wednesday, August 01, 2007

From the Very Interesting Files

This from Bay Partners:

APPFACTORY

A fast-track program supporting entrepreneurs dedicated to developing applications for the Facebook® Platform

When Facebook announced its platform, a set of application programming interfaces (APIs) and services that allow outside developers to inject new features and content into the Facebook user experience, Facebook, in essence, became the Social Operating System. Historically, the creation of an operating system, or a platform, has led to a new economy which includes a marketplace of applications.

The AppFactory provides funding, technical and business resources to help entrepreneurs identify, build, and monetize the next generation of applications. Since AppFactory investments are really bets on people and concepts, Bay will use an aggressive timeline and fast-track approach to awarding AppFactory funding. An entrepreneur's time is best spent developing the application and experimenting with variables that affect adoption, virality, and usage, while exploring reasonable theories about monetization.

Bay Partners is targeting tens of investments from $25,000 to $250,000 using a flexible, fast-track approval process. In addition to the dollars, Bay commits technical and business resources, and a community of "Factory Entrepreneurs," all part of a program designed to ensure the business success of these application entrepreneurs.

Bay's "AppFactory" program is being led by Salil Deshpande and Angela Strange. Entrepreneurs interested in applying for Factory grants should contact Deshpande or Strange at appfactory@baypartners.com.

How to Apply

To learn more, please visit our FAQ.

To Apply, please send an application (maximum 2 pages) to appfactory@baypartners.com

  • A brief bio of you and your team (if applicable)
  • Your vision for your Facebook Application
  • How your idea adds value to the user
  • Your competitive advantage
  • Why it's more appropriate for your app to leverage Facebook’s platform, rather than take a destination-site approach
  • Your ideas for how your app could potentially be monetized
  • Your ideas for how your app will become viral
  • Your capital requirements and use of proceeds
I like the "Social Operating System" or as I like to call it: "SOS"

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