A fairy tale for entrepreneurs: Disney launches an entrepreneurial acceleration program

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For entrepreneurs, this is a brand new Disney World.

Disney announced in Wednesday that it would work with Techstarts to launch an accelerator project in Los Angeles. The Enterprise Accelerator will provide mentoring and resource support services from media groups for start-ups in the early stages of entrepreneurship.

"This is the first time that Disney has been involved in an accelerator project, and we will focus on quality entrepreneurial teams in the entertainment and media sectors," said a representative from TechStars.

Disney Accelerator is the name of this venture accelerator project. They will take over 10 start-ups and offer 120,000 dollars in seed-round investment and mentoring support for each company, including CEOs and executives from Disney and other big companies in the industry. But perhaps the most attractive thing for the chosen startups is that they are allowed to use the stories, people, technology, and other resources of the Disney Company.

TechStars has been working with the industry's giants to launch the accelerator project, which includes Microsoft, Nike and Barclays.

The Disney Accelerator will be managed by Michael Abrams and Cody Simms, Michael Abrams is senior vice president of the Disney Innovation Division, and Cody Simms is from TechStars. He previously worked in StumbleUpon and Yahoo.

The accelerator project will last for three months and end at the end of June this year, with a deadline of April 16.

(via Mashable/Fast carp)