Media Lab Competition - Create Tomorrows Mediacompany
| Reference number | |
| Coordinator | MEDIEKOMPANIET NÄRHET HANDELSBOLAG - MEDIEKOMPANIET NÄRHET HB, Stockholm |
| Funding from Vinnova | SEK 448 000 |
| Project duration | October 2013 - August 2014 |
| Status | Completed |
Purpose and goal
The purpose of MLC was to identify innovative ideas on how to help solve the challenges the media industry is facing. How can the subscription base, the brands, the substantial content and the strong channels be used to find new revenue streams in exchange for the old, diminishing.
Results and expected effects
MLC attracted a number of contestants with wide variety of ideas. They were alap commercial sound and some of the ideas had already started a commercialization phase. The winner, Tailify, had a very good level of innovation combined with a strong management team, execution as well as business acumen.
Approach and implementation
The project plan had to be revised on some occasions but it did not impact the contestants. The reason for these changes were learnings about choice of channel to reach potential contestants and the effects these different channels had. Given the resources at hand MLC feels that the results were satisfying. MLC underestimated the possibilities to get press coverage. The competition is relatively high when it comes to ´Innovation Contests´ and the media industry did not recognize the importance of MLC. Facebook and MLC home page worked very well on the other hand.