Planet of the Apps goes to Lightspeed

Venture capital business Lightspeed has come on board Apple original series Planet of the Apps.

The VC firm has committed US$10 million to fund development of the apps that come out of the series.

Planet of the Apps will search for hot new app developers as they compete to create new digital businesses.

The show is being made by Ben Silverman and Howard Owens’ A+E-backed prodco Propagate and marks Apple’s foray into original entertainment series.

Owens said: “Lightspeed and Jeremy Liew, who leads the firm’s consumer investing practice, are recognised as top investors who can identify and help nurture some of the most lasting and meaningful tech companies in the world.

“Our partnership ensures that this is a once-in-a-lifetime opportunity for new business creators and that this show is truly the first of its kind.”

Separately, actress and entrepreneur Jessica Alba has signed on as a mentor and exec producer on the show, joining the previously-announced line-up of Gwyneth Paltrow, will.i.am and Gary Vaynerchuk.

Producers are currently soliciting online applications from app developers interested in participating in Planet of the Apps, with a deadline of September 21.