Looking for "transformative product ideas for the media and entertainment industries", Disney will now be accepting applications for its startup accelerator program. Ten lucky picks will get a small funding allowance and guidance from the experts to launch their business off the ground.
The program will take place in Los Angeles and be led by Michael Abrams, Disney's Senior VP of Innovation. Pixar, Marvel, Lucasfilm, ESPN and Walt Disney Imagineering are said to be giving these startups the support and insight they need to make it happen. Applications are now being accepted until April, and the program is said to begin at the end of June. Kevin Mayer, Disney's Executive VP of Corporate Development, has faith in the idea, "I see Disney Accelerator as an extension of this legacy and a new way of bringing together the creative energies of the media/entertainment and startup communities to inspire innovation." With so many startups launching left and right, the competition is on fire. Who will be the lucky ten most innovative startups?
With an initial investment of $120,000 into each startup, a 4% ownership for the partners is expected in return. This means that Disney will want these companies to do well so that they can make money also. Think you have a genius idea? If your startup is still in the early stage and has potential to be the next big thing, give it a shot and apply. Who knows, maybe Juno Power will make an appearance there also.