The Walt Disney Company is reaching out there Mickey gloves to help 10 lucky startups succeed and give the media more insights into creativity. The Disney Accelerator is working with Techstars, and will invest $120,000 in each early-stage startup.
Applications are now being accepted through April 16, 2014 for the inaugural program beginning June 30. The program is 3 months long and will help participants learn more on applications to cultivate a company. Participants will be selected based on the concept and whether the idea matches up with something Disney can readily identify with.
The Disney Accelerator will choose 10 startups to help jumpstart their business. Each will receive $20,000 initially and an additional $100,000 in convertible debt. In return, Disney and Techstars will receive 6 percent equity (3 percent each) in the startup.
Disney’s executive vice president for corporate strategy and business development, Kevin Mayer, says the program “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.”
Teams will be mentored by executives from Disney, Pixar, Marvel, Lucasfilm, ESPN, and Walt Disney Imagineering. Participants may also receive advice from Disney’s Chairman and CEO Robert Iger. It is also said that Inside.com founder Jason Calacanis, Atom Factory CEO Troy Carter, Greylock Partners partner Josh Elman, Techstars founder and CEO David Cohen, Circa co-founder and CEO Matt Galligan, August Capital general partner David Hornik, Facebook’s director of product Mike Hudack, SoftTech VC partner Charles Hudson, Beats Music CEO Ian Rogers, Redpoint Ventures partner Ryan Sarver, Upfront Ventures general partner Mark Suster, and many others will be helping mentors.
This is the first time Disney will be doing something like this. There are similar programs that techstars have done with other companies like Microsoft and Nike. Techstars will be choosing someone to help run accelerator full-time under the supervision of Michael Abrams, Disney’s senior vice president of innovation.
Apply at: http://www.disneyaccelerator.com/