Public support should be generous enough to make a difference. In 2015 Nesta managed a fund of around £2m to encourage innovation in news- gathering: it was too small to have much impact. The allocation to the new fund should be at least £10m a year for each of the next four years.
The fund should work closely with Google and Facebook, both of which have during the period of this Review made offers to invest in innovation in the sector, as well as with others who might contribute finance or expertise.