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Verizon Ventures and R\/GA are announcing a new program called the Verizon Media Tech Venture Studio<\/a>.<\/p>\n Stephen Plumlee, R\/GA\u2019s global COO and managing partner of R\/GA Ventures, explained\u00a0that the interactive\u00a0agency\u2019s\u00a0\u201cventure studios\u201d started out similar to other startup accelerator programs, but they\u2019ve expanded to provide access to \u201cfinancial capital, creative capital and client relationship capital.\u201d In other words, startups don\u2019t just get funding and advice \u2014 they also work on\u00a0products and partnerships\u00a0with R\/GA\u2019s creative staff and clients.<\/p>\n In this case, the Media Tech Venture Studio is a 14-week program for up to 10 companies, which\u00a0will receive $100,000 in funding each and work out of Verizon\u2019s new \u201copen innovation\u201d space in New York\u00a0City. The company\u00a0says it\u2019s looking for startups\u00a0in areas like content creation and personalization, virtual reality and augmented reality, artificial intelligence, content distribution, interactive advertising and e-sports.<\/p>\n \u201cThe idea is for Verizon to really get out there and see what\u2019s going on in the market,\u201d said Paul Heitlinger of Verizon Ventures. \u201cWhat\u2019s really compelling for the companies\u00a0who participate is, they get to work directly with Verizon\u2019s business units. \u2026 They get access to our technologies, our networks, all behind-the-scenes stuff.\u201d<\/p>\n At the same time, Heitlinger said participating in the program \u201cdoesn\u2019t mean you have to work exclusively with Verizon.\u201d<\/p>\n As for whether these startups are then teed up for additional funding from Verizon Ventures, he said, \u201cWe wouldn\u2019t say no, we wouldn\u2019t say yes. \u2026 If we feel that there\u2019s a particular company that\u2019s\u00a0well-suited or well-aligned with Verizon\u2019s business, just like any other startup we would invest.\u201d<\/p>\n Verizon has been trying to move deeper\u00a0into digital media, with initiatives\u00a0like\u00a0its go90 mobile video app<\/a>, not to mention its acquisition of\u00a0AOL<\/a> (which owns TechCrunch) and the still in-progress Yahoo deal<\/a>.<\/p>\n The deadline to apply\u00a0to the Verizon Media Tech Venture Studio is May 30, with the program starting on July 31.<\/p>\n Featured Image: David Ramos\/Getty Images<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"![\"\"](\"https:\/\/tctechcrunch2011.files.wordpress.com\/2017\/03\/gettyimages-645846618.jpg?w=680\")
Verizon Ventures and R\/GA are announcing a new program called the Verizon Media Tech Venture Studio.
\nStephen Plumlee, R\/GA’s global COO and managing partner of R\/GA Ventures, explained\u00a0that the interactive\u00a0agency’s\u00a0“venture studios” started out similar to other startup accelerator programs, but they’ve expanded to provide access to “financial capital… Read More<\/a><\/p>\n\n<\/img><\/a>
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