Investing in Media Innovation: a conversation with MADE: Turkey coach Fuat Sami of Lab-X

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Fuat Sami is an entrepreneur to his very core.

After finsihing up his secondary education at Eton College, Fuat followed his passion for business by enrolling at Tanaka Business School at  Imperial College where he earned both a BSc and  a Master’s degree. That opened up the doors at Helix Management Consultants, where he went on to lead business strategy for both local and international companies in Turkey, Europe and the Middle East.  His wealth of business consulting experience motivated Fuat in 20056 to set up his own company: the entrepreneur and investment consultancy firm, LabX ,  where he continues to engage with businesses of all kinds -  and not only helps them survive, but thrive.

Fuat is part of an international team of inspirational speakers and coaches contributing to the first 48-hour MADE: Turkey Weekend for Media Startups which kicks off on Oct 5 at Istanbul Bilgi University.  

At the end of the weekend, participants will get a chance to present their projects for possible further support from Lab-X and the GirişimFabrikasi (Startup Factory) at Özyeğin University.

Q1 - Turkey remains a challenging place for independent journalism. What role do you think digital news entrepreneurs have to play in an increasingly connected country?

 Digital news entrepreneurs need to take practical steps to help ordinary citizens have access to information about what is happening in he world and show them how to specially create safe online spaces for the exchange of ideas.

Entrepreneurs should remain to be the advocates of democracy and keep promoting social media platforms that enable people to catch up with the rest of the world. They should represent the leading mechanisim of freedom of speech as a civil right for the people.

Q2 - Like in most of Europe, Turkey's mainstream media is dominated by a few cross-media conglomerates. What opportunities do you think there are for grassroots media startups to challenge the status quo?

Grassroots media can compete with the conglomerates on every level. They have to offer a quality product and focus on innovation.

Q3 - Is it wise for entrepreneurs to take risks with digital innovations at time when many in the traditional media are struggling with it?

It is very important for entrepreneurs to be innovative. In today’s media market, traditional ways are getting boring and creative ones are now much popular. Thus entrepreneurs should be creative inorder to be able to generate pofits.

Q4 - What’s the single most important advice you can give to someone wanting to start a digital media enterprise?
The immediate action because digital media is on the rise and will definetly be a replacement for the convential methods.

Q5 - The MADE project is, so far, operating in the UK and soon in Turkey. How do you expect the project activities to differ in the various locations, particularly given the different economic and socio-political factors in the two countries?

Both countries will probably face similar challenges. However, the way the approach them may differ because people have different outlooks on life.

• News entrepreneurs  can also join the conversation in the MADE Network Facebook Group  and follow @uclanmade on Twitter  for updates.