THE VIDA MODEL
We look at VIDA’s business model, which is informed by direct experiences of entrepreneurialism and building businesses.
One element that makes VIDA different in the media space is its unique business model combining funding, business support and commercialisation.
This means that VIDA’s partners have access to investment expertise along with a range of support services that can give their business the best possible chance of success.
But why is this model needed and how does it work in practice? One answer concerns the eco-system in which new digital publishing ventures are operating.
Within this environment, sources of support tend to be either venture capital outfits that could provide funding, or incubators/accelerators that perhaps just give advice, or agencies that might help with monetisation. But VIDA provides all of it.
Mark Maddox, co-founder and CEO says, “We take a stake in a business, like a VC, but we roll up our sleeves and get involved in order to drive revenues as fast as possible, therefore aiding growth and adding immediate value.”
VIDA’s business model also takes into account some key differences between tech and creative ventures. But it’s fair to say that for both business models, there can be a hands-off approach following funding.
In contrast, the VIDA team believes that to really help a business grow, their role following funding is to provide ongoing support and resource.
This can take many forms, all accommodated for by the model. Just as VIDA builds niche audiences for new businesses, behind the scenes it is taking an equally tailored approach to each business it supports.