Verizon Ventures and R/GA partner to launch a digital media “venture studio”

TechCrunch

Verizon Ventures and R/GA are announcing a new program called the Verizon Media Tech Venture Studio.

Stephen Plumlee, R/GA’s global COO and managing partner of R/GA Ventures, explained that the interactive agency’s “venture studios” started out similar to other startup accelerator programs, but they’ve expanded to provide access to “financial capital, creative capital and client relationship capital.” In other words, startups don’t just get funding and advice — they also work on products and partnerships with R/GA’s creative staff and clients.

In this case, the Media Tech Venture Studio is a 14-week program for up to 10 companies, which will receive $100,000 in funding each and work out of Verizon’s new “open innovation” space in New York City. The company says it’s looking for startups in areas like content creation and personalization, virtual reality and augmented reality, artificial intelligence, content distribution, interactive advertising and e-sports.

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