The World Economic Forum has selected app store operator GetJar as a Technology Pioneer for 2011. GetJar joins an elite group of 31 visionary technology companies chosen by a panel of experts for their accomplishments as innovators whose approach to technology will have a deep impact on business and society.

Now in its 11th year, the Technology Pioneers programme aims to recognise companies at the forefront of technology and innovation. The Technology Pioneers for 2011 were chosen after a vigorous selection process; 330 applications from around the globe were evaluated by 68 global technology experts. To make the final list, a company must be involved in the development of life-changing technology innovation and have the potential for long-term impact on business and society.

As a selected Technology Pioneer, GetJar will be invited to attend the World Economic Forum Annual Meeting, which will be held in Davos, Switzerland from 26 – 30 January 2011. For more than four decades, the Annual Meeting has provided leaders from industry, Government, academia, civil society and the media with an unrivalled platform to shape the global agenda and catalyse solutions at the start of each year.

GetJar does not take a revenue share from downloads of paid apps; instead, it allows developers to keep all their app revenues so long as the cost to end users is free. Developers monetize their apps through a variety of innovative business models, ranging from in-app advertising, virtual currencies and up-selling to premium apps.

GetJar monetizes by allowing developers to bid for premium visibility in its store to maximize visibility and downloads. Developers bid for placement but only pay for their bids when consumers download their application. The company’s in-house analytics suite also gives developers free information relating to the number of downloads by country, operator, handset, platform and version. Additionally, GetJar’s Conversion Tracking Tools allows developers to see how many downloads they have achieved, plus the number of times the app has been opened and how it is being used by consumers.

Speaking about the selection, GetJar CEO Ilja Laurs says: “I’m incredibly humbled to be chosen as a Technology Pioneer for the World Economic Forum. I feel that the selection is a testament to how an open approach to business can be a strong vehicle for social and economic growth. I’d like to thank the committee at the World Economic Forum for the appointment and look forward to getting into the famed spirit of Davos.”