Scotland-based publisher of The Beano comic, DC Thomson, has joined forces with computer network server company Cisco and University College London (UCL) to launch accelerator programme Idea London. The programme provides cheap working space in the Tech City area and a mentoring programme for tech and digital media companies. Tim Barnes, executive director of UCL’s centre for entrepreneurship UCL Advances said “The young companies we are looking for will already have a team and probably some sales but need help to get to the next stage. There are other accelerators in London, such as Telefonica’s Wayra, but they focus on earlier-stage companies – we see those accelerators as potential feeders to Idea London.”
Richard Hall, Consultant to the Board of DC Thomson said “Being in old media isn’t a comfortable place to be anchored right now, so we are interested in emerging technologies, new ideas and talent. We need to understand and manage change. We already support Idea Scotland, which currently houses three companies in Dundee.”
Four companies have so far been accepted into Idea London with applications still open to others. There are no current plans from the three sponsoring companies to take equity stakes in the participating companies.