Media Lab Bayern celebrated the inauguration of its new premises last night. Fellowship-supported startup The Buzzard received funding from Google.
Five startups have been working on their innovative business ideas for the media industry for the past six months as part of the Media Lab Startup Fellowship. The goal of the program is to develop a prototype and secure follow-up funding. Yesterday, the founders pitched their ideas and results at Demo Day in Media Lab Bayern. The Buzzard was able to announce funding of 50,000 euros through the Google Digital News initiative.
The Buzzard aims to address the problem of the digital echo chamber: On an online platform, users gain perspectives that would otherwise not penetrate the respective filter bubble. Co-founder Felix Friedrich explains what will happen with the money from the news initiative:
"With the Google DNI funding, we want to test whether our journalistic work as curators can also be taken over by computers with the help of artificial intelligence. This would allow us to reach readers across Europe in different languages."
Image rights, fact checking, data sovereignty and content providers
The remaining four Media Lab startups also presented themselves to the audience yesterday. The startup Picter, which develops image management software for photographers and media outlets. The young company now has nearly 10,000 users and, during its time in the Media Lab, was able to increase its revenue, acquire new business customers, and grow to ten team members. CEO Claudio Ricci says:
"Through regular coaching sessions, we have refined our vision, which is crucial for our future approach. We are currently in contact with several very interested investors and are close to reaching an agreement."
Wafana is run by two journalists, Johanna Wild and Ursula Trischler. Their goal: verifying social media content. The team met in the Media Entrepreneurship Program of Media Lab Bayern and has spent the past six months developing a seminar program for editorial teams. Johanna Wild says:
"During the fellowship, we were able to establish ourselves as German verification experts. Without the support of Media Lab, we certainly wouldn't have been able to achieve this in such a short time. We conducted interviews with all relevant German editorial offices about their current verification practices and identified a significant lack of expertise. As a result, we developed a training concept perfectly tailored to the needs of the editorial offices. Our verification one-day seminar has been very well booked since spring."
The platform of Personiq enables users to gain control over their data. CEO Sebastian Wolfsteiner reports from the program:
"The six-month program helped us, as a technology-driven company, learn more about the media industry and understand the dynamics and clear problems facing the sector. We were able to strengthen our team by two people, secure an investment, and acquire two pilot projects. Additionally, through the Media Lab, we became part of EMMA's Future Media Lab and can present our project at the European level."
The fifth startup to reside Mashtag in the Media Lab. The automated content provider and intelligent editorial assistant has used the last six months to develop the market and work on its own technical solution.
Startups sought for next fellowship round
Media Lab Director Lina Timm is satisfied with the current vintage:
"The teams' progress clearly demonstrates that our support and close coaching are helping them progress in a very practical way. The fact that one of the teams has now been selected by Google DNI as one of the most innovative projects and received follow-up funding is a great success for both The Buzzard and our program."
The next Media Startup Fellowship runs from January to June 2018. Applications are still possible until the end of October.
