Broadband technology developers are to be offered up to $250,000 (£124,000) to develop applications for globally popular social network site Facebook.

The site's founder, Mark Zuckerberg, has announced incentives to firms and individuals who come up with the most inventive, original and practical applications for the site.

Currently, there are over 4,000 applications available for users to add to their profiles on the site, include world maps, music players and games of Scrabble. The fbFund formed to develop this software, will make a total of $10 million available to budding developers.

A statement from Facebook said: "We are forming this fund to help grow the Facebook application ecosystem. By decreasing the barrier to start a company, we hope to entice an even larger group of people to become entrepreneurs and build a compelling business on the Facebook platform."

Statistics by comScore released last month found that the amount of UK users on Facebook grew by 366 per cent between January and July this year.

Categories: Broadband

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