Endemol and Israeli broadcaster Reshet unveiled the first international format developed under their recently formed partnership on March 10.
Fundastic is the world’s first live, multiplatform crowd funding format with real-time active viewing, which sees aspiring entrepreneurs contend for financial backing that could bring their business dreams to life.
First, each contender must face a panel of judges comprised of business leaders and self-made moguls who decide which are the concepts that deserve to go forward. Next, the chosen entrepreneurs must deliver a lightning pitch, live to the nation. In real time, viewers use the dedicated crowd-funding app to decide how much of the prize fund should be allocated to each idea.
It’s a nail-biting live show where in order to win the financial backing each hopeful must accumulate more of the prize than the previous participant. The final winning entrepreneur receives funding as well as the expert mentoring and guidance to help make their business vision a reality.
This innovative format integrates real-time active viewing that has an immediate and direct effect on the outcome of each episode, giving the audience the power to make people’s dreams come true.
Tim Hincks, President of Endemol Group commented: “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 groundbreaking ideas to come.”
Erez Ben Harosh EVP Content of Reshet added: “Collaborating with Endemol has given us access to a brilliant creative team with vast experience in the worldwide arena. Reshet remains at the forefront of innovation in Israel and we’re extremely pleased that our partnership with Endemol has already generated a groundbreaking new idea for the international market.”
Elad Kuperman, Managing Director of Endemol Israel said: “Fundastic combines jeopardy and drama with second screen technology that places the outcome in the hands of viewers. Competitiveness and entrepreneurship are intrinsic to the cultural mindset in Israel and this show has the ideal ingredients to attract the Israeli audience as well as the audiences around the globe.”
Endemol and Reshet announced they had entered a strategic partnership in December 2013. The deal includes Endemol’s acquisition of a 33% stake in the broadcaster, which is subject to regulatory approval. The two companies also signed a co-operation agreement to focus on the creation, production and distribution of new multiplatform content for the international market.
Fundastic will be produced by Endemol Israel, which launched in April 2013 following Endemol’s acquisition of a controlling share in leading independent producer Kuperman TV. The multi-award winning company, led by CEO and founder Elad Kuperman, is now building on a track record of international hits including Israel’s most popular sitcom Traffic Light, reality series The Successor and Royal Chef, the Israeli version of Endemol’s reality blockbuster Big Brother, which has become Israel’s most successful ever TV show.
Endemol Israel’s production of Fundastic will launch on Reshet in summer 2014.