The netbook has become one of the most popular consumer devices in the market today, but its true potential has been limited by applications that are not optimized for its mobility and smaller screen size.

The Intel AppUp Developer Program Million Dollar Development Fund is a fund set up by Intel to address this challenge and to help accelerate innovation in software applications for Intel® Atom™ processor-based products, starting with netbooks, and eventually supporting smartphones, consumer electronics and more devices.

One element of the fund, the Accelerator 2011 is  currently open. Accelerator 2011 will provide funding for companies that pioneer new usage models in the netbook software market. More elements of the fund will be announced soon. Read more here.