In a call with Intel last Friday we heard about a ‘Million Dollar Development Fund’ which should be officially  launching right about now. (Should appear here.)

The fund is aimed at reducing the challenges that developers might have in developing for the Intel Atom Developer Program and it appears to be another part in an ongoing effort to seed the developer program.

The goal of the fund is to help accelerate innovation of software applications for Intel® Atom™ processor-based products, starting with netbooks and eventually supporting a variety of consumer electronics, including smartphones. With the netbook market segment set to grow from 35 million in 2009 to 139 million in 2013*, this new fund is designed to open up new opportunities for developers and independent software companies worldwide.

The Intel Atom Developer Program Million Dollar Development Fund represents Intel’s global commitment to support innovation by developers and software companies. The fund will be available to individual and student developers, as well as small, medium and large software companies to support the creation of new compelling applications and netbook user experiences. Hardware and financial aid also will be available to developers with the objective of reducing barrier to entry for new application development and accelerating time to market.

The first three elements of the development fund are available now with more to be announced over the coming months.

• Fast Track 2010: Developers want quick revenue and increased visibility. For 250 selected validated applications submitted between March 1-31, 2010, the developer or software company will receive $500. Talk about fast revenue!

• Download 2010: Revenue from one download is nice, but how about maximizing it? For 100 selected validated applications submitted between March 1-31, 2010, Intel will add to a developer or software company’s revenue on the Intel AppUp Center for 4 months (even for free apps).

• The Intel Atom Developer Challenge: This contest offers great prizes and marketing exposure for developers and their applications. Developers can join now at http://appdeveloper.intel.com/en-us/contest/developerchallenge, and watch for the announcement of more prizes on March 9, 2010.

So that means if even you developer a free app, you’ll get $500 when it’s approved and $2 per download. (Up to a limit of $5K for a free app. $25k for a paid app.)

It’s Windows-only right now but expect further announcements (and we get the feeling that more funds are set-aside) for the Moblin, sorry MeeGo-based app store soon. You should also see third-party app stores being built into OEM netbooks soon so there’s even more change that customers will download your app.

It’s a very interesting move by Intel and proves that applications stores are big business and costing millions and millions to get going. The next stage will be to convince the existing 40 million-plus netbook users to download and install the AppUp Center on their netbooks. Maybe if the apps are worth having, that stage will happen automatically!