Delhi headquartered HT Media Ltd which publishes The Hindustan Times will launch an accelerator for media and ad:tech companies in partnership with North Base Media, VCCircle reports.
I spoke to someone earlier this week who will be involved in the process. The company is still ironing out the details.
Former WaPo editor Marcus Brauchli founded North Base Media. HT is said to have sent out invites for a press conference to announce the launch this Friday.
Update: More details from the press conference.
The accelerator will be launched as a 50:50 joint venture to invite ideas from entrepreneurs. Seven ideas focused on content creation and advertising based technology will be selected.
The accelerator will invest nearly $50,000 – $100,000 in startups and is open to investing more in exchange of a 10-30% stake in the company.