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Barely £500,000 have been pledged to journalism projects, and crafts and dance projects have raised less still.
Jan Schaffer, executive director of J-Lab, an institute that funds innovative journalism projects in the US, has seen a similar drop-off of interest.
But all media entrepreneurs recognise the value of innovation and, as the FT reports, several digital journalism projects have been launched in the US recently.
An article in The Observer of London two years ago described him as "readying his armory of cash to invest in citizen journalism projects".
And relatively little funding, beyond individual founders' investments of time and money, has gone to support small hyperlocal entrepreneurial journalism projects.
In its application, Project Veritas said it planned to pursue as many as a half-dozen journalism projects and conduct five two- to three-day training sessions for people interested in learning how to do such projects on their own.
Similar(37)
For a digital journalism project, $250m£156m6m) is a serious investment.
The American public broadcaster NPR has received $3m£1.9m9m) funding to launch a hyperlocal journalism project.
The position is a non-profit journalism project funded by the Pew Charitable Trusts.
The Panama Papers, he argued, had been the first true global journalism project.
James Woodford is writing on marine science through a non-profit journalism project funded by the Pew Charitable Trusts.
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