Appcelerator Starts their “Innovation Fund”.

Appcelerator speeds up the development of native mobile apps. It's marque product is Titanium, a mobile app development platform. Recently they introduced the Appcelerator Innovation Fund in order to invest in promising startups that build apps using the Titanium platform.

In addition to money, startups chosen for the Innovation Fund will also receive access to Appcelerator facilities, while also receiving a whole bunch of other services. Like other accelerator programs, Appcelerator will provide legal and financial guidance, as well as help with business development, engineering, and sales support.

Storm Ventures, Sierra Ventures, eBay, Accel Partners, Rembrandt Venture Partners, Mayfield Fund, Translink Capital, Red Hat, and Presidio Ventures have all invested in Appcelerator which has raised $50 million over the past six years.  It has 350,000 mobile developers using Appcelerator Titanium — compared to the 500,000 iOS developer. And those developers have built more than 50,000 apps which have been installed on 80 million devices worldwide.