A new fund to support media diversity has launched in Europe with an initial endowment of six million Euros (A$9.85 million).

The Media Forward Fund announced its first funding round in three countries at the beginning of this month, with applications open for grants of up to 400,000 Euros each to be awarded to organisations, initially in Germany, Austria and Switzerland.

The aim is to ensure there are more independent quality media with viable business models that publish strong, trustworthy content and are sustainably financed in the long term.

The aim is to strengthen diversity in journalism and thus democracy.

Ten foundations and private investors are backing the non-profit fund initiative, which is supported by the German federal government’s commissioner for culture and the media with project funding.

Three funding rounds are planned per year, offering either 200,000 Euros for project funding or 400,000 Euros for organisational funding each for two years.

“In order for journalism to be financed sustainably, we need media makers who have the courage to experiment with new business models – as well as investors who provide the necessary capital,” founding managing director Martin Kotyne says.

Hans Schöpflin, chairman of the Schoepflin Foundation, one of the supporters, says journalism now needs “a lot more money from a lot more people” if democracies are to have a chance. “Money must fly the flag here”.

Eleven initiators have so far pooled their funding in new fund, with an independent jury ensuring that funders do not influence funding decisions.

More information from Annabel Loebell, email al@loebellnordberg.com

Pictured: Supporters get together at the Media Forward Fund launch