1. I will be developing it in either python/django or on google app engine. This for polishing my python skills.
2. The idea should be innovative and useful, not necessarily profitable.
3. It can be anything, from a web application to a python module. Anything that is useful but interesting.
4. I will release the code as open source and host in on github.
5. If you wanna get prototype of your idea developed, I'm fine with it too. I will do it free of cost but I can't promise timely delivery.