Appswell launched yesterday, releasing a free iPhone application (also called Appswell) that uses crowdsourcing to identify and build the next great iPhone app. Appswell allows users to submit creative, entertaining and useful application ideas and receive immediate community feedback and votes. Winners will have their iPhone app developed and sold, and in return they will receive a $1,000 cash prize and a ten percent share of the profits.
The first contest started yesterday and will run for four weeks, after which the first winner will be announced. Winners will be selected based on user votes, and those winning ideas will be built by Appswell. Application concepts must meet Appswell’s guidelines, as well as Apple’s standards, including copyright and rules regarding explicit content. Appswell will announce winners through its iPhone application and its Web site www.appswell.com.