MEDL Mobile, a Los-Angeles based, mobile technology start-up, is now crowdsourcing the ideation of iPhone applications to keep up with the rising demand for iPhone apps, which reached one-billion downloads earlier this year.

Playing off of Apple’s slogan of “there is an app for that” the folks behind MEDL Mobile, coined the phrase “there should be an app for that”. Now, MEDL is willing to develop & market your app. Prospective iPhone-application inventors can submit ideas either through an iPhone application built by MEDL or they can register and submit their idea via the website. MEDL will judge the merits of the submissions across five categories: originality, functionality, simplicity, revenue opportunity, and fun.

In return, selected inventors will receive 25% of all revenue generated by future sales of the application. MEDL Mobile takes on the responsibility of building and marketing the application for its 75% share. For those technically inclined it might be hard to accept that revenue split but for those that have an idea and not the knowledge or funds to outsource the development of the app it sounds like an opportunity.

Below is a video covering one of the company’s most popular applications: Problem Halved – this app allows the user to pose a problem to the world, and then invites others to anonymously provide solutions. The name is taken from the quote, “A problem shared is a problem halved”.