Disney has had a long history of acquisitions of all sizes, but the most recent was Makers Studios. In a press release, Disney Chairman and CEO Bob Iger said of that purchase, “Short-form online video is growing at an astonishing pace and with Maker Studios, Disney will now be at the center of this dynamic industry with an unmatched combination of advanced technology and programming expertise and capabilities.” Many saw this acquisition as Disney trying to stay relevant (and, hopefully, ahead of the curve) in the fast-changing entertainment landscape. In a similar vein, Disney is preparing to launch a new program called Disney Accelerator that aims to help grow small companies entertainment ideas and products.
Disney recently hosted an event at Cross Campus in Santa Monica, California for tech start-up founders to come hear more about their program. The talk was hosted by David Cohen, the founder of Techstars — a mentorship program that helps tech start ups develop their products and is partnering with Disney for their accelerator.
Before Cohen took the stage, a sizzle reel gave the audience a look at the many elements of the Walt Disney Company, including theme parks, consumer products, ABC, ESPN, Marvel and LucasFilm. The video concluded with the message, “Come Dream with Us”. “When I think of Disney brand I just think… ‘yeah, that’s the best’. The best park, the best sports network…”, Cohen said.
Also speaking at the event was David Min, Vice President of Strategic Business Innovation for Disney. When asked why they choose to partner with Techstars for Disney Accelerator, Min said, “one of the reasons we went with Techstars is because of the size and the reach of the mentor network that they have.” The Disney Accelerator website (www.DisneyAccelerator.com) lists a few of these mentors, from Disney executives to “Friends of Disney”, including Cohen and other successful founders, CEOs, etc.
So what exactly is Disney looking for with their accelerator? “The first things we’re looking for is great teams. You have to have a great team if you’re going to build a great product and if you’re going to build a great company”, Min said, adding, “we’re looking for technology enabled media and entertainment experience” “It’s beyond just what you see on a screen at a movie theatre or on a television screen… What’s in a kid’s bedroom? What does that bedroom look like five years from now? We’re talking about connecting devices, connecting toys, thing that can accompany the entertainment experience on the screen.”
Disney will be selecting 10 teams for their first Accelerator program, which will run for 15 weeks. In addition to having access to all things Disney products, the teams will also each receive $120,000 in investment capital to develop their product.
The application deadline is April 16, 2014. For more information on Disney Accelerator, visit DisneyAccelerator.com