The New Media Incubator invests in media entrepreneurs developing creative, new business models and products shaping the media market today and tomorrow. This includes startups and new media ventures designing, launching, and growing into viable businesses by providing financial support, coaching, network access, and training. It’s important to have a strong team with a minimum of two people.
The New Media Incubator is a six-month program for Europe-based new media ventures and early-stage publishers building on existing ideas. The program supports publishers with a minimum viable product planned to launch in the next six months and up to three years old. Publishers will work to identify market gaps, gain a deeper understanding of their audience’s information needs, prototype a product, and continuously experiment, test, and maintain their startup or a part of their business or content model. The incubator will support the founding team in the development of its business model and new products that results in a prototype or launch of its ongoing idea. Successful applicants will have an elaborate and strategic approach to their business model but need financial support and mentoring in implementing it.
The New Media Incubator is part of the Media Innovation Europe (MIE) project, co-funded by the European Commission. The program is run by the International Press Institute, the Thomson Foundation, the Media Development Foundation, and BIRN and is intended to empower media outlets to navigate the digital transition, giving them journalistic tools and skills in diverse products and business structures in order to reach audiences and bring sustainability.
The International Press Institute (IPI) is a global network of editors, media executives, and leading journalists who share a common dedication to quality, independent journalism. Together, they promote the conditions that allow journalism to fulfill its public function, the most important of which is the media’s ability to operate free from interference and without fear of retaliation. The mission of IPI is to defend media freedom and the free flow of news wherever threatened.
Benefits
- New Media Incubator may cover any percentage of a project’s costs, up to 100 percent of the total. Co-funding is encouraged but not mandatory.
Note:
- Selected projects will sign a grant agreement with IPI to receive the funds. The disbursement of funds will be made in two installments:
- 60 percent of the grant amount upon signing the grant agreement
- 40 percent upon completion of the project, which is fulfilled through the submission of a final narrative report and completion of agreed milestones (due by the end of month six of the project timetable).
Eligibilities
- Must be a new or soon-to-launch media startup and open to leveraging audience and innovation methods to grow.
- Must have an idea that is ready to launch in the next six months or a startup that is up to three years old and building or expanding new products or revenue streams.
- Must have identified a gap that needs serving, and have developed a business plan and financial forecast.
- Must demonstrate that the team has a validated business idea
- The team must demonstrate the right mix of skills to deliver the project, such as media management and editorial experience
- Must be eager to facilitate news innovation and journalism collaborations
- Must have a plan on how to identify and serve the audience, or be open to undertaking audience research and information needs assessment.
Note:
- Commitment to community journalism is a plus.
Application Process
- Applications have to be submitted through the Jotform platform. (Available on the apply link)
- Applications must be submitted in English.
- Each applicant team should designate a lead applicant from within the participating media outlet.
- Applicants must answer the required questions to complete the application. (Questions are available on the apply link)
- Teams must declare any existing sources of funding on their application.
Application Deadline: June 14, 2023
Application ClosedOfficial link
