Media Factory, a startup accelerator which focuses on the business of online news and journalism, announced the second class of its news acceleration program, seeking to support new digital-only media ventures in Latin America during 2015.
Teams should be based anywhere in the region and have a strong professional network, successful experience generating impact (building audience, having political influence, or creating revenue), experience in journalism and digital content, capacity to produce summaries and to cover breaking news, and a fluid understanding of new technologies related to media. The initial goals will be to work on audience generation, community engagement and defining a business model.
Media Factory invests USD 75,000 in each company and works with founders on editorial efficiency, audience growth, and revenue generation. The second class will be held over three months in Buenos Aires, beginning Sept. 1st, 2015, after the Media Party conference.
After the acceleration period, the teams will return to their countries of origin where they’ll receive the mentoring of Media Factory to scale and achieve new rounds of investment. Furthermore, as part of the acceleration process, the startups will build strong sales and marketing departments so they can monetize their platforms.
For the first class in 2014, Media Factory reviewed 115 entries, interviewed 58 teams and selected 18 finalists, to choose three teams to its first class of entrepreneurs. ElMeme.me from Argentina, El Cambur from Venezuela, and GKillCity from Ecuador spent around 100 days in Buenos Aires, received investment and mentorship from disruptive digital media worldwide like Mic.com, Vox Media and the Knight Lab at Northwestern University.