The Walt Disney Company is now accepting applications for Disney Accelerator
, a program for funding and mentoring developers creating new entertainment products.
Riot Games co-founder Brandon Beck is one of many big names on Disney's list of program mentors
, which also includes Disney Interactive president James Pitaro and Walt Disney Company CEO Robert Iger.
The program is awfully vague about what qualifies as an eligible product -- Disney claims to be seeking "technology-powered startups" with ideas for "products and services in the consumer entertainment and media space," so a game developer with good ideas for a title that might benefit from Disney's money and IP could be a contender.
Ten winners will be selected from the pool of applicants and asked to move to Los Angeles at the end of June, where they will spend three months working in a dedicated Disney workspace with access to IP and mentors from within The Walt Disney Company, including subsidiaries like Disney Interactive, Lucasfilm, and Pixar.
The winners will also be awarded $20,000 in funding upon acceptance, with access to an additional $100,000 convertible debt note if they want it. Put very simply, a convertible debt note
is basically a loan that the lender may convert into stock in your company in lieu of a cash payback.
-- exists between Disney and program applicants, nor is one promised.