If you are an iPhone developer and looking for funds for your gaming project then there is great news for you. TinyCo, an Android and iOS game development company has introduced TinyFund, a US$5 million fund, for mobile game developers.

TinyFund  will offer financial assistance up to US$500,000 per title to game developers creating games for iOS or Android. The funds are available for both free and paid games. In addition to funds, TinyCo will also provide development, marketing, and business assistance to the game developers.

Interested iPhone developers can submit their proposals for consideration.  A team of TinyCo executives will review all proposals to pick proposals. Names of the Game developers whose proposals are accepted for funding will be announced in the third quarter.

Now gaming on iPhone will go more social and community oriented with the new Game Center application going live. Now iPhone game developers can integrated a whole community of users into their game applications to make their applications more social. The app has the backing of big brand iPhone game publishers for the future possibilities the product opens up in iPhone game development.

iPhone 4 and iOS 4 users should log in to Game Center with their Apple account ID and create a user profile for themselves. You can build a Game Center account custom home screen which displays your Game Center nickname, number of friends, games played and goals accomplished. So from now on iPhone developers can integrate Game center into their applications and bring more interactivity among gamers rather than just playing with the programmed chunk.

Game Center is set for release this fall according to the recent reports. iPhone Game development is set for a revamp and as the craze for community gaming hits the peak by Q4 the Game Center app is going to be a major player in mobile Gaming industry.