Do you have a killer mobile app (short for application) idea that you believe would definitely stand out from the crowd, but don’t have any developer background or the wherewithal to create it?
Arizona (US)-based mobile and web 2.0 products, applications, games and solutions development services company, Adeptpros, has launched Appionaire (App + millionaire), a mobile app-focused incubator programme that helps transform an individual’s app idea into real business.
“Appionaire will help an individual to set up an organised path to begin his journey from app idea to app creation towards making his idea successful. Initially, we have allocated a budget of Rs 2 crore from our internal resources for this programme,” said Venket Nallapati, founder and chief executive officer of Adeptpros.
Under the Appionaire programme, Adeptpros invites mobile app ideas from various educational institutions and also from individuals. After its panelists shortlist the top-three ideas, Adeptpros floats a new company in which it holds 20 per cent equity and 70 per cent to the idea generator, while the remaining will be shared between five board members.
“We will provide an initial seed funding of $ 25,000 (approximately Rs 15 lakh) to the new company and take care of the entire process – right from transforming the idea into a product to commercialising it. The app development will be taken care of by our 100-employee strong enterprise mobility development centre, and the developers that we have trained through our Geniusport training institute in Bangalore,” Nallapati added.
With focus on genres like gaming for the iOS and Android platforms, Adeptpros intends to incubate 12 mobile app ideas every year with a time horizon of five years. “The five-year horizon is to make the app a best-seller and pay big time to the idea generator by then,” he said.
Adeptpros is currently incubating two mobile app ideas. While one idea in the area of gaming is now in the discussion stage, the other iPad-driven app weaved around the ‘Cheer and Dance’ concept will go live once the academic year starts in the US sometime this August.
According to Nallapati, Adeptpros had filed the F1 application with the US Securities and Exchange Commission to raise $ 2 million (around Rs 12 crore) via an initial public offering in the over-the-counter market and is expecting an approval for the same in the next three to four months.
“The proceeds would be utilised to fund innovation and marketing,” he said.