Media Factory: A News Accelerator For Latin America

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In this respect, we find approaches like Media Factory, a communication media factory, as they define themselves in other words, an accelerator for new digital companies, focused exclusively on the creation of communication media in Latin America. As explained on their website [es],their network of mentors and investors is what allows them to sponsor a small team of journalists, in which they download invest US$75,000 per venture, and take a 17% return. Initially these digital media have a specific theme: Vamos more information a crear medios de comunicacion digitales inicialmente enfocados en politica y economiapara luego crecer hacia otras tematicas, con ambicion de convertirlos en plataformas digitales dominantes. We are going to create digital media initially focused on politics and economy and later grow into other subjects, with a goal of converting them into key digital platforms. Mariano Blejman, Manager partner at Media Factory and Knight Fellow at ICFJ explains the steps taken with each project chosen: Vamos a elegir equipos de diversos paises para que vengan a Buenos Aires por un periodo de cuatro meses y puedan crear los medios desde cero. La apuesta es a que en un periodo corto de tiempo los medios puedan crecer y generar audiencias reales y de trafico y, con el conocimiento de los lectores, pasar a la monetizacion y las segundas rondas de inversion. Well choose teams from various countries to come to Buenos Aires for a period of four months and they will create the media outlets from scratch. Were betting that in a short amount of time the outlets can grow and generate real audiences and traffic, and with knowledge of their readers, they can move on to monetization and the second round of investment. To start this projectto be launched in Buenos Aires in January 2014,and to realize new ways to finance the media outlets, they have surrounded themselves with a team of experts including, among others: Sasa Vucinic from the crowdfunding platform, focusing on finding new ways to finance journalism; James Breiner , student of business models linked to ICFJ (International Center for Journalists); Christopher Altcheck, CEO of PolicyMic , a media outlet directed at the post Internet generation; or Jim Frederick , editor of TIME Magazine at Time Inc.


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