"The second idea is to create a POS system that integrates fully into Shopify. Thus one can use Shopify to manage sales for all the store's inventory both those that one sells through the web and also those that one sells from the physical store. The POS front end for Shopify will allow for Shopify to expand into those with both an online presence and those who also have a storefront. This is perfect for small businesses. I believe it could be very disruptive to the POS market because it would be very easy to adopt for customers."
Back when I applied to the Shopify Fund there were little requirements it just asked for ideas: http://web.archive.org/web/20111018133854/http://www.shopify...
I never heard back from them.