To watch TV, you first need to download and install OrbLive application on a PC or a Mac which should also have a TV tuner card.  After that you have to install the application on a jailbroken iPhone or iPod touch.  Tune your computer to show the desired content and leave it connected to the Internet.  That’s it, when you open the application on iPhone or iPod, you can watch live content streamed by the computer on which you installed the OrbLive for iPhone application.

You can also use the “Device Tracker” to protect other devices like digital cameras, USB drives and MP3 players.  Here is a list of all the supported devices.  All you need to do is configure the software for your device and download an install the ihound application on your device.  The basic version of the service is free and lets you track upto 3 devices.

However, Microvision’s Embedded Pico Projector Display is all set to change this.  The Picop Display will enable you to project a picture or video clip on any flat surface.  So, you will be able to project a movie on a wall and enjoy the rich, full-color watching experience with your friends, family or any other group.

It also has a business use as professionals can project presentations and demos directly from their mobile phones without needing an external projector and laptop.

The handsets with Pico Projectors will be launched between April and June 2009 as the company is said to be working with major mobile phone manufacturers.

Apart from the embedded Pico Projectors, Microvision is also developing external projectors for iPhone and iPod and other mobile devices which will also enable the same functionality.

Wayfinder has announced the launch of its Power Search application for iPhone and iPod touch which has been developed using the iPhone SDK. The application will allow users to search various free and premium databases through a single search field.

With the web search application, a user can enter a phone number, name or a company name to get relevant results based on his location. The Wayfinder Power Search application also leverages the built-in iPhone Map application for quick search of locations mentioned in the search results.

Currently Wayfinder, along with its partnerships with several database providers, has in excess of 100 million local searchable records from around the world. The uses Tele Atlas digital map on top of which the location based records from different directories are added and delivered as search results.

Wayfinder has an impressive array of location based mobile products such as Wayfinder Navigator and Wayfinder Access. They also have a Facebook application named LocateMate which lets you share your current location with your Facebook friends.

John Doerr, Partner at Kleiner Perkins Caufield & Byers said,

“A revolutionary new platform is a rare and prized opportunity for entrepreneurs, and that’s exactly what Apple has created with iPhone and iPod touch. We think several significant new companies will emerge as this new platform evolves, and the iFund will empower them to realize their full potential.”

The focus areas for this fund are social networking, m-commerce, communication, entertainment and location based services. I think they should also add business related applications since iPhone is directly competing with Blackberry. What about having a CRM or sales intelligence application specifically for iPhone. I feel that it will be the next obvious move for iPhone for targeting business customers.

On the other side, product focused funds is a relatively new concept and yet to be proven. Even in the case of Facebook focused funds, I have not seen many applications getting funded. I think the problem lies in the core concept of these funds. If these funds remain individual application oriented, they will face problems of scale and competition. We all know of many applications on Facebook with exactly similar functionalities. However, if these funds focus on companies building various applications or an extension of their existing services, then there is virtually no difference between them and any other fund; for example Wallop which builds social applications for Facebook but they have the same application for Bebo as well. Perhaps, this is the reason why not many applications have been funded.

Do you think this trend of product focused funds will keep up? Are we going to see funds for Salesforce or Amazon Web Services applications which, in my view, will have better business models than advertising.