Mark Carnegie on the next big media idea
Investor Mark Carnegie has launched a search for startup ideas he can potentially invest in.
The first Carnegie’s Den project – focusing on media and marketing ideas – will be run in conjunction with Mumbrella.
Carnegie – whose investment capital firm M.H. Carnegie recently launched a $120m innovation fund – joined Mumbrella for a live video hangout to talk about what he will be looking for as a potential investor.
Carnegie is best known for his investment, along with former adman John Singleton, in Macquarie Radio Network, which owns Sydney talk radio station 2GB. The duo also have a stake in creative agency Banjo Advertising and a small investment in Fairfax Media. Carnegie is also a former chairman of STW.
Carnegie’s Den will see contestants pitch their idea live to a panel of judges including Carnegie, Singleton, Network Ten chief digital officer Rebekah Horne and Mumbrella editor-in-chief Tim Burrowes.
The judges are particularly interested in media ideas based in new technology. Carnegie’s new innovation fund is aimed at helping identify and nurture local technology start-ups.
The winner will receive coaching from one of the judges and a follow-up meeting with Carnegie and his team to pitch for investment.
In order to compete, entrants are asked to provide a 500 word summary of their idea via the Carnegie’s Den entry page before the closing date of October 11. Ten finalists will be announced on October 18.
They will be invited to present to the judges at an invitation-only final at Carnegie’s Darlinghurst home “The Church” on October 24.
Entrants do not surrender any of their rights to the idea by participating in the contest.
Watch a video replay of Mumbrella editor Tim Burrowes’ video chat with Mark Carnegie:
This is the second such event by M.H. Carnegie & Co aimed at investing in early stage startups that would not otherwise be identified through the traditional channels.
Carnegie said: “Given my history in media, the network surrounding M.H. Carnegie & Co. and the success we have had with investments such as Macquarie Radio Network, Banjo Advertising, One Big Switch and Inception Digital, it is clear that we are well positioned to create successful media start-ups in Australia.”
Tim Burrowes founded Mumbrella in 2008. He worked on Mumbrella until 2021. At various points he was editor, content director and editor-at-large.
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what are the investment terms for successful investees? i.e what percentage of ownership is proposed?
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Hi Fabfour,
That’s for the participants to propose. As you’ll see on the entry form we’ve linked to, they are invited to make a proposal on that.
Cheers,
Tim – Mumbrella
Hi There – will the session be recorded for those who are unable to tap in at 11am tomorrow but still interested to hear what Mark says? Thank you.
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Hi Alex,
Yes it will – once the Hangout finishes, it will be available for viewing on this page.
Hi – Just trying to establish the Hangout mechanics. So the hangout will show up in this page and a youtube ‘summary’ will result. Just followed Tim/Mumbrella on G+ – will I therefore be notified via G+ about the hangout (and will it show up there too) or do I still have to bookmark this page? Not trying to be pedantic 🙂 Just trying to find the easiest way to lock this in.
Thanks
Tim D.
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Hi Tim D,
You’re going above and beyond the call of duty!
We’ll embed the video on this page so that you can easily watch it here, but yes you can also find it via the G+ mechanism if you prefer.
Cheers,
Tim – Mumbrella
Aussie Dragon’s Den no less?????
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Why does no one acknowledge where the format is copied from?
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What if you are very much at a green fields stage with your startup? No revenue yet etc
Are you only accepting startups that have already gained some traction?
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Hi Paul,
It’s still well worth pitching your idea, I’d suggest.
Cheers,
Tim – Mumbrella
This is the coolest thing I have heard in ages – can’t wait to see how it all goes.
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@Caroline of course its copied. BBC 2 in its 7 season I think….
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This is a fantastic opportunity for businesses.
Let us stay the lucky (smart) country
good luck!
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thanks for the opportunity
all the best
Peter
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Thanks for the opportunity
All the best
Peter Robinson
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Excellent example of Australian Research prowess [ UoW]
Magnesium Di-boride [MgB2] Superconducting wire applications :
5MW wind turnbines, MRI’s [ Helium is in short supply MgB2 is the most cost effective substitute], with old and ageing infrastructure + addition of renewables on to the Grid ,increasing need for Fault Current Limiters [FCL”s] full story on the website
We are presently looking for equity ,as now US based group , we have never considered australian funding sources [ it looks like Memtec story all over again]..FX Herbert was right “Poor Fella My Country” – here we know the price of everything and the value of nothing -‘clueless in lotusland’ – enjoyed your piece with Ross Mark but my experience is that you are whistling in the wind..but thanks notwithstanding -Carpe Diem
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M H Carnegie,
Dear Mr Carnegie, Is the proposal of assisting start up purely for Media. or is it aimed at good commercial cutting edge start-up for “new inventions”.
I have a few provisionally patented ideas using a combination of new technology that will affect a couple of areas that should have far a reaching impact on the areas targeted.
A response to myself would be most appreciated, as I do need to have some expertise as an assistance. I am not a professional in these areas but do have a strong faith in the success of these ideas as a most viable marketing idea with large potential.
Thank you in anticipation of your response. I do not wish to expose my ideas here at the present.
Yours sincerely, Keith Clampett.
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Hi Keith,
If you follow the link through to the submission page, your idea will end up in front of the MH Carnegie team.
Cheers,
Tim – Mumbrella
Hi Tim
My innovative idea is not a tech one and has won awards overseas but cannot get traction here.
Can I still put a proposal in?
Jane
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Hi Jane,
By all means use the submission form as a means of getting your idea in front of the team at MH Carnegie.
Cheers,
Tim
Hi Tim,
You’re certainly good til midnight.
Cheers,
Tim B
Hi Tim,
You’re certainly good til midnight.(And props for your entrepreneurial work ethic…)
Cheers,
Tim – Mumbrella
Hi Tim,
will the shortlist be on this page tomorrow?
interested to see who you have chosen,
Nik
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Hi N,
We were somewhat overwhelmed by entries – well over 100 – so it has taken a little longer to work through than we anticipated. But we should have a final list together by the end of today, which we’ll announce on the site on Monday.
All the best – Tim
Looking forward to it!! What a great initiative. Well done again Tim and team xx
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