During the launch of iPad 2 last month, Steve Jobs encouraged third party developers and accessory makers to take full advantage of the magnets built in to the tablet. Irish startup Applydea has done just that by creating a magnetic stylus for the iPad 2.

The Maglus was designed by Andy Shaw and Noel Joyce, two enterpising guys from County Offaly in the middle of Ireland – which happens to be the same county that claims President Obama as its own.

They have designed a stylus that looks like it could have come from the Jony Ive’s workshop in Cupertino. It is about the size and shape of a Sharpie marker with a flat side containing the magnets for attaching to the Smart Cover or the spine of the iPad itself. This keeps the writing instrument close at hand when the urge to scrawl or draw strikes. It is crafted of aircraft grade aluminum with a tip made of soft, conductive rubber unlike the squishier foam that some styli such as the Pogo Stick employ.

Noel said they like to use the Maglus with apps such as SketchBook Pro, Inkpad, Adobe Ideas and Penultimate. And when work is done, it can be used to improve your aim at vicious little Easter pigs with Angry Birds.

They even put together this promo video which was shot on an iPhone 4 and edited in iMovie for iPad using the Maglus for fine tuning the cuts.

If you like what you see, put your money where your mouth is and help fund the Maglus, Kickstarter-style, at the Irish crowdfunding site Fund it. Their goal is to raise €15,000 in the next 30 days in order to fund the product, which will cover tooling and the first manufacturing run. They are offering a great deal to the first 2000 that give €15 or more. At that level, you’ll receive one of the first Maglus with worldwide shipping included (RRP €24.99 ex. shipping). Keep track of Applydea’s progress on their blog or iPad microsite.