Microsoft offering $20,000 for Kinect development

Microsoft's offering a $20,000 investment to developers who want to work with Kinect under a new initiative known as Kinect Accelerator.

Out of all applicants, only ten companies will be chosen for the three month program, based in Seattle.

"We'll take companies starting with fully developed products and funding," reads the official FAQ.

The reward package on offer is pretty impressive for the chosen ones, although TechStars will take up a 6 percent of common stock in return.

"Every company participating in the Kinect Accelerator will receive an investment of $20,000, an Xbox development kit, the Windows Kinect SDK, office space, all the resources of BizSpark, technical training and support, and mentorship from entrepreneurs, investors and Microsoft executives intensely focused on making their business a success."

The deadline for applications is January 25, 2012.

Thanks, GI.