Advertising and marketing services will be offered to start-ups in exchange for equity in a new move by News Corp Australia.
It has partnered with Fox Sports and Nova Entertainment to launch the Scaleup MediaFund, a media-for-equity play.
The media companies will pool their assets and expertise to provide start-ups access to an extensive, cross-platform network of advertising inventory with real-time reporting.
Similar programs have been used by The Times of India and Singapore Press Holdings.
The fund is targeted at young companies that seek to super-charge their brand but lack capital for marketing.
“There is a tipping point for all growing companies when they need to spread their message more widely to take the next step in their success,” said News Corp Australasia’s executive chairman Michael Miller.
“We believe in Australian ingenuity and we are delighted to be able to offer innovators the opportunity to take their business to the next level.
“Many companies that could be great spend years of hard work refining products and taking risks, only to stall at a certain point. This fund had been established to help such businesses achieve critical mass by taking their services and products to millions of people.”
Scaleup will strike a limited number of deals each year, evaluating companies on market need, scalability and traction with existing customers.
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