Google is to invest €150m over the next three years as part of an agreement with European news publishers which aims to support the journalism industry.
The Digital News Initiative, which was formally unveiled at the FT Media Conference in London yesterday, sees the technology giant joining with eight European news publishers to "promote innovation in digital journalism".
The rise of the internet and digital news curators like the search engine's Google News have in the past been cited as one of the factors in the decline of the traditional news industry but the tech giant now appears keen to appease and aid large publishers by investing in improving their digital skills.
Google said the investment will be used to "support and stimulate innovation in digital news journalism" and anyone can apply to join the scheme.
"Anyone working on innovation in online news will be eligible to apply, including established publishers, online-only players and technology start-ups in the news space," said Google.