One of the co-founders of PowerShares has stepped slightly away from the ETF biz, and co-launched an app business.

Jason Schoepke teamed up with Phil Bellini and Kevin Nickell to launch App Shack, a Wheaton, IL-based, digital consulting and business development company focused around technology products, on June 6.

Schoepke is also actively searching for more partners and networking to create those partnerships.

"I love the entrepreneurial start up environment," Schoepke, now chief operating officer of App Shack, tells MFWire. "There's opportunity to grow and build, I am just wired that way."

Part of App Shack's services include centralizing index data for advisors in the industry, and there are plans to launch two more ETF tools to further help advisors.

"The ETF space continues to grow, and you always hear 'Boy, the industry could use this,'" says Schoepke.

In addition, App Shack also consults on early stage ideas for tools in the financial marketplace.

Outside of the MF industry, App Shack also is planning to launch a socialized photography product. And next year, they plan to delve into the sports and retail industry as well. App Shack can be accessed on phones, tablets, and (if it pans out) desktops, too.

"We are excited to see what happens," says Schoepke.

Schoepke most recently served as chief marketing officer at Market Realist, an investment research and analytics company, and received his bachelor's in business administration and management from John Brown University.  

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