An Australian philanthropist is funding a not-for-profit online start-up that is pledged to publishing public interest journalism.

She also co-founded two private online start-ups during the internet bubble, an experience that taught her the importance of being a responsible investor and only partnering with other responsible investors.

MDhub.com is primitive compared with software packages from companies like McKesson and Medem, the online start-up backed by the American Medical Association.

Since 1998 he has been involved in a number of online start-ups.

For a few heady months in 1998 and 1999, bringing out an online start-up did not involve the usual amount of risk associated with getting a new venture off the ground.

Since then he has participated in other online start-ups as a Business Angel, like floresfrescas.com, planetaki.com, 11870.com or the leading social network in Spain, Tuenti.

The deal is a response, in part, to the growing number of alliances that music companies and their media conglomerate parents are entering with the once-ignored online start-ups.

Many are leaving to join online start-ups, technology companies and venture capital firms - the pillars of the new economy.

Others are leaving to join online start-ups, technology companies and venture capital firms, the pillars of the new economy, where they sometimes take home more than their old bosses from Day 1 - and, they say, have more fun.

Napster, other online start-ups and the record companies themselves have developed online subscription services.