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Tech giant Google just announced its intention to launch a GBP150 million fund to further nurture its relations with European publishers. The Telegraph reports that the fund will be poured into the development of new digital news projects, and large-scale grants would require approval from a council that includes its very own chief Murdoch MacLennan.
“The DNI (Digital News Initiative) Innovation Fund aims to tackle that problem by providing non-refundable support for projects that demonstrate new thinking in the practice of digital journalism, that promote the development of new business models or maybe even change the way users consume digital news,” EMEA Strategic Relationships President Carlo d’Asaro Biondo at Google wrote in a blog post.
The Next Web said Google promised to not impose any restrictions when it comes to using the money nor require project applicants to share the project assets with other organizations once they have been completed. The fund will supposedly welcome even those that are “highly experimental” as long as the people behind the project has clearly defined goals.
