UK Broadcaster Turns Angel, Backs GymFu And School Report Card

4iPIt’s interesting that Channel 4, a UK public sector broadcaster has set up an investment fund to back startups. It’s even more interesting that the 4iP fund will tomorrow announce seven new investments totaling $830,000 as part of its mission to kick-start new investment in public service-oriented digital media. This is a bit like PBS investing in startups which can a) contribute to the public good and b) create an exit which pays back the investment far more than a traditional investment.

TechCrunch Europe has acquired details of two of the investments. The first is GymFu, an iPhone app maker which creates apps like PushupFu designed to encourage people to get fit which we reviewed here. The other is to-be-launched The School Report Card, a new web service that should help parents make better informed decisions about which school to send their children. Here’s what else we’ve learnt.