Comcast Corp. accepting applications for startups
Five minority businesses will be selected
Comcast Interactive Capital, the venture capital affiliate of Comcast Corp.—one of the world’s leading media, entertainment and communications companies—has partnered with DreamIt Ventures to provide seed funding, training, mentoring and other benefits to five minority-led startups through DreamIt’s accelerator program.
The partnership with DreamIt, entitled the Minority Entrepreneur Accelerator Program (MEAP), is Comcast Interactive Capital’s first investment initiative from the $20 million fund created by Comcast as part of the NBCUniversal transaction that is committed to expanding opportunities for minority entrepreneurs.
Comcast Interactive Capital and DreamIt are now accepting applications and will select five minority-led startups to participate in DreamIt’s three-month accelerator program taking place in Philadelphia this fall. The deadline for applications is July 8, and the program begins Sept. 9.
“Diversity is a cornerstone of Comcast’s culture, and we are proud to have Comcast Interactive Capital partner with DreamIt in this first investment from our $20 million fund focused on expanding opportunities for minority entrepreneurs,” said Payne Brown, vice president of strategic initiatives at Comcast. “Minority groups are under-represented in startup ventures, and we believe supporting minority entrepreneurs through the DreamIt accelerator is an effective way to provide them with greater opportunities.”
Kerry Rupp, managing director of DreamIt, said, “We are thrilled to have Comcast Interactive Capital as a partner and are looking forward to working with them. DreamIt is proud to provide assistance and opportunities to help entrepreneurs grow, and we know that Comcast will provide invaluable expertise and partnership to this process.”
Comcast Interactive Capital and DreamIt also announced that William Crowder will serve as managing director responsible for overseeing and operating MEAP. Crowder founded Growth Strategy Advisors, a strategy consulting and business development firm, and previously served in a variety of business development and strategic planning roles at AOL.
Crowder said, “I am truly excited about the opportunity DreamIt Ventures and Comcast Interactive Capital are providing to minority entrepreneurs. The challenge for many startups and their founders, particularly those from minority communities, is one of access and opportunity.
MEAP responds to this need in superior fashion and we look forward to seeing what kind of entrepreneurial magic will be created as a result.”
MEAP will provide minority entrepreneurs with the opportunity to engage in an intensive, company-building experience. Applicants who are accepted into MEAP will be a part of DreamIt’s broader Fall 2011 initiative in Philadelphia and will be offered the opportunity to learn from and be mentored by recognized experts in marketing, brand building, business development, financial modeling, business plans, distribution and customer acquisitions.
Interested applicants can live anywhere in the country before they apply to the MEAP program, but must commit to living in Philadelphia during the program’s three-month duration. People of any age can apply, but those under 18 will need permission to participate.
The best ideas are those that can be developed into a product in three months, and each selected company/team will receive a $10,000 to $25,000 investment in their company in exchange for a 6 percent equity stake in the company that will split evenly between Comcast and DreamIt Ventures.
In addition, they will be provided with office space, working alongside the other startups selected and be provided with donated legal, accounting and administrative help. At the end of the three-month period, the startups will have the opportunity to pitch to venture capital and angel investors at a demo day in Philadelphia to secure further funding to create a sustainable business.
For details on how to submit an application for the Comcast Minority Entrepreneur Accelerator Program, please visit the DreamIt website at www.dreamitventures.com/about/Comcast-MEAP.php.
NEW YORK, N.Y.—In an effort to educate teens about how to be smart about what they post and share online, WhatsWhat.me—the safe, secure “kids-only” social network—has joined the Ad Council’s new collaborative initiative, the Internet Safety Coalition, to provide research-based messages to teens and their parents.
Wonya Lucas has been named president and CEO of TV One, effective Monday, August 8. The cable industry programming veteran succeeds Johnathan Rodgers, who has announced his retirement as of July 31.
Most recently, Lucas was executive vice president and chief operating officer for Discovery Channel and Science Channel, where she was responsible for strategy and operations for the networks as well as oversight of the networks’ research and marketing departments. She joined Discovery Communications in 2008 as the chief marketing officer.
Paula Madison, who joined KNBC-TV 11 years ago as president and general manager and moved up to become executive vice president and the first chief diversity officer for NBCUniversal, announced plans to retire on May 20.
Madison’s journalism career began with newspapers in New York and Dallas/Fort Worth after graduation from Vassar College. Following stints with television stations in Texas and Oklahoma, she joined New York’s WNBC in 1989 as assistant news director and went on to become its vice president and news director in 1996.
The NAACP, National Urban League and National Action Network recently signed an agreement with Comcast and NBC Universal to expand current initiatives intended to increase diversity in a wide range of areas, including programming and employment.
The memorandum of understanding filed with the Federal Communications Commission outlines commitments by the merged companies to improve diversity in corporate governance, employment/workforce recruitment and retention, procurement, programming, philanthropy and community investments.
