Walt Disney Company details Startup Accelerator Program
As states like New York and California battle one-another with tax-breaks and benefits in order to lure start-ups to their home-turf, Disney is helping them start-up. Earlier today The Walt Disney Company announced that it will select ten startup companies for a three-month mentorship and seed-stage investment program. Disney Accelerator, which will be based in Los Angeles and powered by Techstars, is now accepting applications from early-stage companies with innovative consumer media and entertainment product ideas.
Participants will receive $120,000 in investment capital to develop their ideas, along with mentor support from top Disney executives, including Chairman and CEO Robert A. Iger, and leaders from Pixar, Marvel, Lucasfilm, ESPN and Walt Disney Imagineering, among others. Mentors will also include other entertainment industry leaders, venture capitalists, and Techstars’ extensive network of entrepreneurs, investors and executives. Participants will have access to stories, characters, technology and other resources from across The Walt Disney Company. The program begins June 30, and it concludes with an Investor Demo Day in September where each team will present their company to industry leaders and investors.
“Disney has always been defined by innovation, leveraging the technology required to build the future of entertainment,” said Kevin A. Mayer, executive vice president, Corporate Strategy and Business Development, The Walt Disney Company. “Disney Accelerator offers a unique collaboration between some of the best creative minds in the entertainment industry and the modern-day visionaries who are starting businesses on the strength of exciting new ideas.” Overseeing the Disney Accelerator program is Michael D. Abrams, Disney’s senior vice president, Innovation.