Observed Signal · Jun 6, 2024 · Funding · Source: Trending Topics · Impact: 2/5 · Sentiment: Positive
Austria Gets New Philanthropic 'Media Forward Fund' for DACH Journalism
At Impact Days 2024 in Vienna, Martin Kotynek, Sebastian Klein, and Maribel Königer presented the Media Forward Fund, a philanthropic initiative to support quality journalism startups in Germany, Austria, and Switzerland. Kotynek, former editor-in-chief of ZEIT Online and Der Standard, is the fund's founding managing director. The fund is backed by eight foundations, Karma Capital, and Publix. It plans to initially raise €5.5 million, with an overall target of €25 million. The initiative was inspired by the US Press Forward fund. Klein argued that traditional venture capital is too extractive for media and that the fund seeks modest returns of about 3 percent, enabling experimentation with new business models. An independent jury will decide which media projects receive funding.
A new philanthropic fund for journalism in the DACH region signals increased capital for media innovation, but it has limited direct impact on AdTech or MarTech operations.
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Key Takeaways & Evidence Grounding
- The Media Forward Fund was announced at Impact Days 2024 in Vienna.
- Martin Kotynek is the founding managing director of the fund.
- The fund is backed by eight foundations, Karma Capital, and Publix.
- It plans to mobilize €25 million for journalism startups in the DACH region, with €5.5 million initially planned.
- The initiative is inspired by the US Press Forward fund.
Connected Companies & Entities
2 Entities mapped“Martin Kotynek, ehemaliger Chefredakteur von ZEIT Online und der Standard ist Gründungsgeschäftsführer des neuen Funds....”
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