iPhone developers looking for funding should really pay attention to this entry. An Italian venture capital company is opening up its wallet to those developers who need funding. H-FARM – the venture capital firm will make $250,000 available to fund an iPhone application project. Developers are to submit three-page proposals in PDF form and email it to them.

H-FARM will announce the recipient of the fund once the deadline has been met on September 30th. What classification and criteria H-FARM are looking for? The company gives a statement to address this question,“look at the phone and ask yourself which icon you would want to have next to the weather forecast, the exchange rates, or YouTube.”

If you have an idea and plan to develop a killer iPhone application, why not try to get a quarter million in funding to start your project?