I read about Salil Deshpande Bay Partners AppFactory  fund in a recent Business 2.0 (RIP).

When I asked Salil for more details, he pointed me at the AppFactory page, which explains the program.

The AppFactory provides funding, technical and business resources to help entrepreneurs identify, build, and monetize the next generation of applications. Since AppFactory investments are really bets on people and concepts, Bay will use an aggressive timeline and fast-track approach to awarding AppFactory funding. An entrepreneur’s time is best spent developing the application and experimenting with variables that affect adoption, virality, and usage, while exploring reasonable theories about monetization.

Bay Partners is targeting tens of investments from $25,000 to $250,000 using a flexible, fast-track approval process. In addition to the dollars, Bay commits technical and business resources, and a community of “Factory Entrepreneurs,” all part of a program designed to ensure the business success of these application entrepreneurs.

Worth checking out if you have an app that is insanely viral and can be monetized.