Nokia, Microsoft Invest $24 Million in Mobile Apps

Nokia and Microsoft plan to invest €18 million ($24 million) in promoting research into mobile applications for phones running Windows software and Nokia platforms.

Aalto University in Helsinki says the AppCampus program will be launched at the university in May with each company investing up to €9 million over the next three years.

Nokia Corp. and Microsoft Corp. launched their first joint Windows Phone 7 in October after the two joined forces to fight fierce competition in the smartphone sector from chief rivals Apple Inc.'s iPhone and Google Inc.'s Android operating software.

Teemu Tapanila, who heads the university's Windows Phone research, said Monday the program would help boost "entrepreneurship and create more startups."