Steve Jobs Introduces the iFund [UPDATED]

At Appleis iPhone Roadmap event in Thursday, Steve Jobs, in concert with Kleiner Perkins Caufield & Byers introduced the "iFund," according to ars technica on Thursday.

John Doerr from KPCB said that in honor of Steve Jobs, in a salute to the worldis greatest entrepreneur, that they are starting a $100M fund, the iFund, to promote startups. "That should be enough to start about a dozen Amazons, or even four Googles!" Mr. Doerr said.

The fund will be managed by KPCB, and the money is intended for companies that want to develop the capabilities of the iPhone and iPod touch. Apple said it will provide KPCB with market insight and support, according to InformationWeek on Thursday.

"Itis about this great opportunity, but itis about more than the money, itis about the great team at Apple and the great talent we can recruit together," Mr. Doerr said.