Northern Film and Media launch £40k Apple iPad Fund

"The last time there was this much excitement about a tablet, it had some commandments written on it."
Wall Street Journal

The Apple iPad is here, with new iPad-only apps highlighted in the iTunes store. Northern Film and Media wants North East companies to be amongst the first in this new market. That's why we're putting up to £40k into your iPad application ideas, with applications accepted until February 24th. Paidcontent have just scooped us on our own story.

The iPod changed the way we thought about music. The iPhone transformed our attitudes to mobile phones, and opened our minds to all the things they could do other than call people. What does the iPad transform? You decide. Newspaper and magazine reading? Gaming? Writing and painting?

Tom Harvey, Chief Executive of Northern Film and Media, said: ““We want the North East to have a place in the rapidly evolving global content market. We will do whatever it takes to ensure that North East companies have every opportunity to get their products developed, made, distributed and bought on whatever new platforms come along. Whatever we can do to help our companies get to the front of the queue, we will do.”

We want to help the development of your iPad ideas from sketches to finished product, launched in the iPad store . The apps you put forward for investment will:

1. have potential to generate revenue;
2. use the new features and potential that the iPad and new iPhone 3.2 SDK offer;
3. does stuff better than it would be done on an iPhone, and differently from the way it would be done on a laptop or desktop machine;
4. Not replicate the functionality of apps already designed for iPad;
5. be developed by teams where at least 70% of the team's talent have their base in and 50% of the budget is spent in the North East;
6. be launchable by Summer 2010 (notwithstanding iTunes store delays.

There should be an investment of money and/or accountable time from a private investor, too, which could be an equity firm or your own company's resources. The total sum required depends on what you’re trying to produce, but we can provide anything from £1k to about £10k per application, if the idea’s right.

To apply, complete the appropriate sections of a NFM Economic Award application (http://bit.ly/aGnBWz) and attach as detailed a provisional budget as possible.
You've got until February 24th to get your ideas in.