Verizon Ventures, the corporate venturing subsidiary of telecommunications company Verizon, has launched an accelerator scheme called Verizon Media Tech Venture Studio in partnership with advertising agency R/GA.
The initiative, described by the corporates as a venture studio, will look to work with early and growth-stage developers of disruptive digital media and entertainment technology. Applications opened on Friday and up to 10 companies will be admitted.
Areas of interest to the unit will involve content creation, personalisation and distribution as well as virtual and augmented reality, artificial intelligence and image recognition, advertising and eSports.
The studio will be housed in New York and participants will be able to work with Verizon Ventures and Verizon’s digital media businesses, and various teams from R/GA. They will also be able to access the corporates’ investor network.
John Doherty, head of Verizon Ventures, said: “The Verizon Media Tech Ventures Studio with R/GA will connect us with emerging startups that are shaping the future of this business. Verizon and R/GA have created an advanced program for startups with unparalleled access to resources, technology and intellectual capital that will accelerate their growth.”
Stephen Plumlee, managing partner of R/GA’s corporate venturing fund, R/GA Ventures. added: “This program will be a game changer for the companies selected, and we could not be more excited to bring R/GA’s award-winning services together with Verizon Ventures to help them achieve meaningful scale.”