Verizon Ventures announced the launch of the Verizon Media Tech Venture Studio in partnership with R/GA, a company that was listed as no.3 on Ad Age’s 2017 Agency A-list. The new program invites applications from innovative growth- and early-stage companies with disruptive technologies that hope to shape the future of digital entertainment and media consumption. Areas of focus include, content creation and personalization, VR/AR, AI, image recognition, content distribution, interactive advertising, e-sports and other emerging digital media platforms.
“Verizon is at the forefront of the digital media revolution and we continue to explore the next wave of media innovation,” said John Doherty, SVP of Corporate Development at Verizon and Head of Verizon Ventures. “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.”
The companies selected for the program will have the opportunity to work with Verizon Ventures and Verizon’s digital media businesses on product and technology projects. They will also have the opportunity to work directly with R/GA’s award-winning strategic marketing, consulting, branding, design, and technology teams.
To date, R/GA has stakes in 60 companies and recently finished a “connected commerce” accelerator in partnership with Westfield Labs and sponsored by companies such as Walmart and Macy’s. It also assisted startups such as AxleHire, which handles same-day delivery service for e-commerce and physical retailers, and has more recently formed a partnership with Snap Inc.
“Verizon is an industry leader in the content and technology space, with a true commitment to innovation across all components of the media landscape,” said Stephen Plumlee, R/GA Global Chief Operating Officer and Managing Partner of R/GA Ventures. “This program will be a game changer for the companies selected, and we couldn’t be more excited to bring R/GA’s award-winning services together with Verizon Ventures to help them achieve meaningful scale.”
Ten companies from around the world will be selected to participate in the program, which will be hosted in New York City’s Flatiron district.
Startups can submit their applications beginning on March 10, 2017 through May 30, 2017. The program will take place in New York City and will start on July 31st, 2017. The program will finish in mid-November with an invite-only Demo Event, at which time each company will have the opportunity to present to investors, industry leaders, and press.