If you regularly browse the pages of our Apps section thinking “I could do better than that”, here’s your opportunity to put that to the test. FundedApps is a service that lets you submit your own app ideas and earn money from them without having to do any of the development work yourself.
Taking the form of a simple iOS app, you submit a title and description for each idea that you have. Submissions are then reviewed by a team that presents any they think are commercially viable to an investment board. If it gets the green light to be built, you immediately earn £250 for your idea. Once the app’s on sale, you’ll get a 25% cut of net revenue.
FundedApps, which launched this week, is a product of Offficial – a UK-based investment funding company in the mobile sector. The company says that there’s no ‘catch’ to the process and indeed, a length set of terms and conditions lay out exactly what you should expect when you submit an idea. There’s a fee of £1.19 each time you submit an idea although this seems largely designed to disuade people from submitting ridiculous app suggestions for the fun of it. Foursquare for dogs, anyone?
By crowdsourcing and cherry-picking ideas from the public and paying for the best, FundedApps is probably giving quite a fair deal to anyone with spark of inspiration but no ability or inclination to see it through themselves. It remains to be seen exactly how Offficial handles the submitted ideas and their creators but we’ll be watching closely to see how the concept plays out.
FundedApps is free to download from the Apple App Store now.