India-based media company HT Media and investment firm North Base Media (NBM) have launched an accelerator called MediaHack.in that will fund digital media startups in India.
MediaHack will target entrepreneurs involved with original content and advertising-related technologies, investing up to $100,000 in participating startups.
The accelerator programme will take place over the course of a few months, and startups will also have the chance to access HT and NBM’s global connections to technology and media businesses.
Rajiv Verma, chief executive of HT Media, said, “Media is one of the most exciting sectors in India today. I am therefore delighted that we at HT in partnership with NBM are going to provide a platform which will encourage media entrepreneurship in India.
“NBM with its global expertise will add immensely to this endeavour and provide great learning opportunities for upcoming media entrepreneurs.”
The launch of MediaHack comes just weeks after US-based venture capital firm Tandem Capital closed a $100m fund in which HT committed funds as a limited partner.