App idea? There’s an app for that

A NEW mobile phone applications specialist has launched an app to encourage members of the public to submit their ideas.

People who share their ideas through Stockport-based Offficial’s Funded App application – at a cost of £1.19 – will receive £250 if it is chosen for development and a 25% share of future revenue.

The idea has been put together by former Nokia executive Alastair Curtis and his business partner Jamie Lyons, previously managing director at online gadget retailer Fascin8 and a developer for msn.co.uk.

The pair have assembled a fund of more than £500,000 from around 20 investors that will be used to develop the ideas. An investment committee comprising of developer Tobin Harris and James Hilton and Dusan Hamlin of M&C Saatchi Mobile will decide on which apps to pursue.

Mr Curtis said: “We’re hugely excited about this new venture. Our aim is to build profitable products for those people who have brilliant ideas but don’t necessarily have access to the resource to make them happen.”

Mr Lyons said: “Mobile applications is a vast and ever-changing market that’s set to increase in size with the rapid development of smartphones. Experts predict a ten-fold increase in the use of smartphones over the next decade. This will provide significant opportunities in the coming years for forward-thinking companies with innovative ideas.”

Michael Edelson, chairman at manchester debt management firm Sterling Green, has joined the team as a non-executive chairman.