Tagged: apple

The iPhone apps VCs want to see

I just came back from the iPhoneDevCamp where Chi-Hua Chien, a partner at Kleiner Perkins Caufield & Byers and Stanford GSB alumn,  was the Friday keynote speaker.

Chi-Hua is actively involved in the iFund, KPCB’s $100 million iPhone investment fund.

Chi-Hua first gave a quick overview of how the iFund came to be and how it is going today.

I found particularly interesting  where they think the big iPhone hits will come from, the big ideas:

  • Mobile commerce
  • Real time everywhere and anywhere
  • Local search
  • Healthcare
  • Augmented Reality
  • Real-world gaming

Chi-Hua was quite disappointed by the fact that most of the current top apps fail at the three criteria he values most:

  • innovation
  • value creation
  • significance

These criteria and the previous themes frame pretty well the iPhone apps VCs want to see. Unfortunately, right now the top free app is probably the opposite: Do Not Press the Red Button. The market (and hopefully some intervention from Apple) will certainly correct this with time, just like it in the case of Facebook applications.

Update: the slides of his presentation are now available below:

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