A multiplatform crowd funding show is the first fruit of production giant Endemol’s multi-million dollar investment in Israeli broadcaster Reshet.
Fundastic will launch on Reshet in the summer of 2014, with Endemol Israel producing and Endemol’s sales arm launching it at MIPTV.
Endemol entered into a strategic partnership with Reshet in December by acquiring a 33% stake in the business – a deal still subject to regulatory approval. This would allow Endemol to use Israel as a test bed for new formats with international potential and Fundastic is the first result of the strategy.
The format sees entrepreneurs pitch ideas to a group of business leaders and self-made moguls, who decide whether the concept should move on. If they pass it, the contestant must then deliver a pitch to the nation, with viewers using a crowd funding app to decide how much of a prize fund should be allocated to the proposition.
“Our partnership with Reshet in Israel is all about innovation and creating the next generation of multiplatform hits in one of the most exciting markets in the world. The launch of Fundastic is the perfect way to start and promises to be the first of many ground breaking ideas to come,” said Endemol Group president Tim Hincks.