iDev3 has launched what they say is the web’s first mobile applications cooperative in the U.S. The company was created to reward smaller and independent mobile application developers by “equitizing” their investment in their own intellectual property. As a result these smaller players become part of the larger parent company, TGFin Holdings, therefor diversifying risk and getting additional resources to help push their babies.
The first applications available through iDev3 are already here, and they include SportsCast Soccer, SportsCast Baseball and SportsCast Basketball. iDev3 funded the development, marketing and incubation of all three apps and this has apparently proven beneficial for both the developer and iDev3.
Commenting on the launch of this new incubator, iDev3’s Sam Gaer said: “We had a specific vision for iDev3: to diversify the rich intellectual property of mobile application developers. iDev3 is the first company that increases the revenue potential for the mobile applications market by making developers and our company a marketable force rather than that of a standalone mobile application.”
My two cents: It seems like a sound business for iDev3, though I’m not exactly sure what’s in it for developers. The press release doesn’t go into details, so I assume one must sign-up in order to get them [details].