Investments, News, Startups

Media Factory, an accelerator exclusively for digital media entrepreneurs, opens application for first batch

media-fectoryMedia Factory, led by Mariano Blejman and a startup accelerator which focuses exclusively on the business of online news and journalism, have recently opened applications for its batch of aspiring ‘News Entrepreneurs’. As a part of the program, the accelerator will launch the digital media outlets initially focused on politics and economics, with the goal of making them key digital platforms that will dominate their local market.

Any team of journalists with a maximum of three members and based anywhere in  English-speaking South Asian countries, can apply for the program. The three members of the team should each take responsibility for one area: editorial, community management and product design.

The selection criterion will be based upon strength of professional network, significant experience in journalism and digital content, capacity to produce summaries and to cover breaking news. Also, any successful experience of generating any type of impact such as building audience, having political influence or creating revenue, will be an added advantage.

The company is looking forward to invest INR 100,000 (including cash and services) for six months in each company and work with founders on editorial efficiency, audience growth, and revenue generation.

The program will provide the journalists with mentors such as Jim Frederick (Contributing Editor, TIME Magazine en Time Inc.), Madhav Chinnappa (Head of Strategic Partnerships, Google News & Magazines EMEA), David Brewer (Media strategy consultant en MediaHelpingMedia) and many more.

Selected teams will be relocated to Buenos Aires from January through June 2014 and Media Factory will take between 17 and 18% of each company’s’ shares, while also providing access to new partners and investors.

Media Factory, a first of its kind accelerator for news organizations in the world, is scheduled to launch in January 2014 and is currently looking for the first beneficiaries of the initiative. As per the earlier releases, there will also be 5 teams from Latin America, who will join the other contestants in Buenos Aires and will be given a reward of USD 75,000.

Although, the initiative is an innovative one, the investment amount is quite small. In practicality, running a media company requires a lot of resources and much larger amount in hand. Thus, indicating that the major focus of the accelerator may be towards the small blogs only, who are trying to launch a company in the initial stage.

To apply for the program and know more about it, click here

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