Apple doled out $120 billion to developers globally since the launch of App Store in 2008

Apple has doled out $120 billion to developers globally since the launch of its App Store in 2008.

According to the Cupertino-based iPhone maker, app developers earned more than a quarter of that money in the past year alone.

"The App Store is the new digital main street, and creative developers are tapping into the vast potential of the global app economy," said Esther Hare, Apple's Senior Director, Worldwide Developer Marketing and executive sponsor, Women@Apple.

Apple on Monday inaugurated the "Entrepreneur Camp" with 11 female-founded app development companies. 

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The two-week programme is designed to provide female app creators with the tools needed to thrive in the global app economy.

"In the past, starting a small business often meant having to invest in overhead, inventory or retail space. Today, a world of opportunity opens up with some coding skills and an entrepreneurial spirit," said Hare.