Again this is not for the PSP but it a PSP emulator, now what makes this stand apart, is that it is open source but it is also multi platform, and by multi platform i mean almost anything out there can run from apple devices to android (yes phones can run it as well) to Windows, to Linux.
There is one slight drawback though it is still in early development and only plays a certain amount of games not full fledged (http://www.ppsspp.org/compatibility.html) but homebrew and certain low end graphical games, however, this does show promise. Read more about this in the quote below.
To quote: PPSSPP is an open source project, licensed under the GPL 2.0. Anyone is welcome to contribute their improvements to the code, and the hope is that over time this will resolve the compatibility problem.
Fast and portable
PPSSPP is written in C++, and translates PSP CPU instructions directly into optimized x86, x64 and (soon) ARM machine code, using an efficient JIT compiler.
PPSSPP can thus run on quite low-spec hardware, including stronger Android phones and tablets, as long as there’s support for OpenGL ES 2.0.
I've tried it on the android and it flashed the loading screen then nothing. Most games didn't work. I've only tried 4 so far but it does look good. I'm waiting for the next release as hopefully that will be working a lot better. This is definitely a WIP, tech demo.
Hey its a start right, always start small and then go big (no pun intended). To get it running on these many devices which was not accomplished before is a great start it may take some time but patience is key over here.