New Disney Accelerator Shines A Spotlight on LA Tech
It’s another great day for the LA tech community. The Walt Disney Company & Techstars have officially announced the Disney Accelerator, a three-month mentorship and seed-stage investment program for 10 lucky companies.
Disney Accelerator, Powered by Techstars
The LA-based accelerator is powered by Techstars and is looking for “technology-based companies focused on transformative media and entertainment experiences.”
Applications are being accepted starting today, through April 16, 2014 for early-stage companies with innovative consumer media and entertainment product ideas. Visit www.disneyaccelerator.com for full details. The program is set to begin June 30, concluding with an Investor Demo Day in September where each team will present their company to a room of industry leaders and investors. Official quote:
“Disney has always been defined by innovation, leveraging the tecnology required to build the future of entertainment. 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.” – Kevin A. Mayer, Disney’s EVP of Corporate Strategy and Business Development.
Michael D. Abrams, Disney’s Senior VP of Innovation will be overseeing the Accelerator program. Also joining the team will be Yohei Nakajima, former academy program director at CoLoft, a popular co-working space for tech entrepreneurs in Santa Monica, California.
Accepted 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, and Techstars’ extensive network of entrepreneurs, investors, and executives. Another interesting tidbit: participants will have access to stories, characters, technology, and other resources from across The Walt Disney Company.
The working partnership with Disney (closed 2013 with $45 billion in annual revenue) and Techstars (350 funded companies to date, collectively valued in the billions of dollars) shows a strong initiative, setting the stage for a huge year of potential growth in fundraising and investments in LA-based startups.
Recall, in 2013, Los Angeles collectively saw $1.1 billion in raised funds (as reported by The Pritzker Group, Venture Capital and the LA Startup Report) with a large chunk, from successfully funded consumer web companies ($273M).
For official info including how to apply, visit www.disneyaccelerator.com
