Samsung Electronics and Handmark today announced the launch of a new Global Venture Fund to invest in companies and/or individuals with innovative, market-changing game ideas for next generation Samsung mobile phones. Companies and/or individuals selected will receive up to $250,000 each to fund the development of winning ideas.

The fund will be managed by Handmark out of its Kansas City and London offices in partnership with Samsung Electronics. The companies are searching for games that best showcase Samsung mobile phones and the advanced features they offer. Both current and new content ideas are encouraged, taking timing and cost into consideration.

“We know there’s a wealth of great ideas out there waiting to be discovered,” said Chris Barnett, senior vice president of Global Sales and Strategic Partnerships for Handmark. “This is a fantastic opportunity for anyone, including big brands, mobile developers or any individual with a unique, creative idea to make it a reality.”

“Samsung recognizes the importance of content and applications for today’s mobile phone users,” said Ho Soo Lee, executive vice president for Samsung Electronics’ Media Solution Center. “We are pleased to broaden our partnership with Handmark to help lead the Global Venture Fund, using their expertise to support us capturing great ideas and raise the standard of mobile innovation.”

In addition to funding those selected, Handmark will also provide assistance with development, testing and certification, as well as distribution of the application through the Samsung Application Store.