(GOOD NEWS FROM FINLAND) Appcampus, the mobile application development program established by Nokia and Microsoft at Aalto University in Espoo, has invested its first million euros into 30 companies.
Most investments have averaged about 20,000 euros, although some have been in the 50-70,000 euro range. Appcampus has not revealed details of the teams have they have invested in yet, though some have already announced that they have been accepted. Program head Pekka Sivonen said some of the apps should reach the Windows Phone Marketplace this autumn.
Microsoft and Nokia have pledged to invest up to 18 million euros over three years to fund unique, innovative and high impact mobile applications which utilise Windows Phone and other Nokia platforms. Successful applications are expected to be available exclusively on Windows Phone and other Nokia platforms for the first six months.
Since the online process for granting awards opened in May, there have been 900 applications from more than 60 countries. Sivonen predicts about 700 investments throughout the course of the next three years.