The New York Times has just announced timeSpace: a four month incubator which invites early stage media startups into the company’s headquarters. The program will bring in three to five startups to connect with NY Times staff, demo their product, and “teach/learn alongside entrepreneurs and employees who make their livings in digital media, technology and journalism.”
The timeSpace program does not require businesses to give up any equity, and appears to be a result of the shifting media landscape — an area which is quite complicated at the moment, especially in terms of monetization and the migration of readers from print to digital.
The NY Times details that it is “in the midst of unprecedented change:”
Our core purpose remains to enhance society by creating, collecting and distributing high-quality news and information. We want to push ourselves and push others to find the best ways to do so, and we believe that timeSpace can be a part of that process.
Judging from the statement above, this program will be mutually beneficial. The NY Times needs fresh ideas and innovative thinkers, while emerging companies can benefit from the expertise and reach of the prestigious media company.
It’s worth noting that this isn’t the first time a media giant has sought to work with early stage companies. Last year, the BBC launched a mentoring scheme for digital startups called BBC Labs. The Irish Times did something similar with its Digital Challenge, and initiatives like Matter Ventures and Turner Broadcasting’s Media Camp also fit into this category.
If you run an early stage media company and your interest is piqued, you’ll need to turn your application in by 5pm on February 19th. Learn more via the link below.
Image credit: NY Times