HT Media, USA’s North Base in GenNext digital innovations’ JV
HT Media and United States of America-based investment firm North Base Media on Friday announced a joint venture to promote entrepreneurship in new-generation digital media. The 50:50 JV -
<g data-gr-id="26">mediahack</g>.in - will initially invite ideas from potential entrepreneurs, with seven of them to be selected for support and funding this summer. It will focus on those who want to build original content and advertising-related technology business in India.
“We will provide the entrepreneurs a platform through this. After selecting ideas, North Base Media, which has a global expertise in this field, would guide the media entrepreneurs,” HT Media Chief
Executive Officer Rajiv Verma said.
The entrepreneurs will be funded between $50,000 to $1,00,000, depending on their ideas under this programme, but if need be, they could be provided more, he added.
“If there is a powerful idea, we would not mind <g data-gr-id="24">to exceed</g> as capital is not a constraint. It’s about making sure the idea does not get over-capitalised when it fails,” Verma said.