Walt Disney Company creates new business accelerator program

The Walt Disney Company has created a new program for startup companies.

Called Disney Accelerator, this program will select 10 startup companies for a three-month mentorship and investments.

Disney’s senior vice president of Innovation, Michael D. Abrams, will be overseeing the Disney Accelerator program. Each participant 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, according to a Disney news release.

“Disney has always been defined by innovation, leveraging the technology required to build the future of entertainment,” Kevin A. Mayer, executive vice president, Corporate Strategy and Business Development, The Walt Disney Company, said in the release.

The program begins June 30, and it concludes in September where each team will present their company to industry leaders and investors.