Facebook has announced that the second fbFund competition is underway and round one is complete. Over 600 companies submitted applications to the fund. The winners of the first fbFund were announced at this year’s f8. It will be interesting to see how the first round winners fare in the new application environment as it has become increasingly challenging to launch and grow new applications.

For those that were unaware of the first round winners, they were CourseFeed by Classtop, GoalCamp, HotBerry, J2Play, LuckyCal, MyListo, Podclass, Trazzler, and Zimride Carpool App. Last year Mark Zuckerberg announced fbFund at Techcrunch 40 and within a year the winners were selected. This time the second fbFund was announced at f8 and applicants were required to submit by August 29th.

Good luck to this year’s fbFund participants! Below is one of this year’s elevator pitches from a company called SocialFly. It’s a pretty smart idea: a personal CRM system. I’ve previously written about this over on Social Times. I definitely look forward to this service.