Disney Accelerator will soon host this year’s portfolio companies’ Demo Day in October, capping a 13-week accelerator program that started in early July. We recently caught up with Managing Director Cody Simms, who filled us in on the progress:
Congrats on the new batch! How go things so far?
We have a great class of ten technology startups working in the media and entertainment space. Each company has been establishing relationships with mentors from across Disney, the broader entrepreneurial community, and the Techstars network, while executing to advance their company in a meaningful and focused way during the remainder of the program.
In exchange for participation in the program, what does Disney get for its efforts?
Disney has a long legacy of innovation, starting with Walt Disney himself. The broader Disney innovation narrative includes the likes of George Lucas (LucasFilm), Steve Jobs (Pixar) and many more. The Disney Accelerator is a continuation of Walt Disney’s support and embrace of technological innovation in the field of media and entertainment.
Amongst all the companies accepted, was there an overarching theme in your choices?
We looked for a group of companies with incredibly strong founders and a cohesive team. That’s the primary driver for our selection process. Beyond that we looked for companies with strong technical underpinnings who have their sights on big or emergent markets in a broad range of media and entertainment experiences and use cases.
[For a full list of this year’s accelerator companies, click here.]
How is the program broken down by overall timeline, as well as day-by-day responsibilities?
The program is roughly broken down into thirds. During the first month of the program, our companies meet mentors from across Disney and the entrepreneurial opportunity, getting feedback and insight on their businesses and markets. During the second phase of the program, the companies are focused on execution and product development. During the final portion of the program and the build up to Demo Day, the companies spend time digging into finances and fundraising matters. Once the program is complete, Disney and Techstars continue to provide ongoing support and mentorship to each company.
Who are some of the luminaries and mentors that will be lending their ears & wisdom this year?
Companies have met or will meet with top Disney executives and creatives, including Chairman and CEO Robert A. Iger, and leaders from Pixar, Marvel, Lucasfilm, ESPN and Walt Disney Imagineering, among others. In addition, our companies will get a chance to meet with a number of highly successful entrepreneurs, venture capitalists, and operators from the broader entrepreneurial community and Techstars network.
[To see the full list of mentors associated with the program, click here.]
How has the program evolved / differed from the first year?
Each class and each founder is different, so we do our best to tailor introductions and sessions within the accelerator according to the needs of the companies in the program. The format is largely unchanged, but the day to day material covered and introductions made are uniquely tailored to the needs of each year’s companies.
Is there a certain level of maturity & development you look for in a company, or do you accept baby baby companies?
First and foremost we are looking for great founders and a solid, well-rounded team. We’ve accepted everything from companies that are pre-product to companies that are doing sales in the millions of dollars.
What happens to the companies after their demo day?
Disney continues to work commercially with a number of companies from the 2014 program, and they continue supporting all of our accelerator companies via mentorship and coaching. Techstars provides strong support and ongoing mentorship to alumni founders and companies across our system, which now includes more than 600 companies around the world.
How are the last batch of graduates doing?
Every company from the 2014 program went on to raise money, be acquired, or achieve profitability. Our 2014 companies in aggregate have raised more than $50 million in investment capital since the program. Sphero entered into a licensing relationship with LucasFilm and is working to manufacture a toy based on the BB-8 droid from the upcoming Star Wars: Episode VII The Force Awakens film. Naritiv is helping ABC Family grow its Snapchat audience for Pretty Little Liars, amassing over 800,000 followers in the first few months. TYFFON has developed the Show Your Disney Side app on behalf of Disney Parks and Resorts, which achieved more than 1.5 million downloads in the first two weeks post-launch.
Anything else you’d like to bring up that I may have missed?
Startups are hard. Our hope is that we can do our part to give a few special companies and founders access to mentors, relationships, and markets that can help them along the way!
