San Francisco -- A new San Francisco-based startup accelerator is aiming to provide a needed boost to fledgling media entrepreneurs. KQED, the John S. and James L. Knight Foundation and Public Radio Exchange (PRX) on Monday launched Matter Ventures, which will hold four-month programs for start-ups with early-stage prototypes, such as participatory platforms, mobile applications, B2B media services and content production engines. KQED and Knight Foundation each have invested $1.25 million in the initial group's $2.5 million fund. The accelerator plans to run four class cycles over the first two years, with five companies in each. Applications are now being accepted for the inaugural class, with a deadline of Jan. 6. Those selected with receive a $50,000 investment and space in the South Park area of San Francisco's SoMa district. At the end of each four-month program, teams will pitch at a demo day to the Matter community and potential investors.
Knight Foundation supports transformational ideas that promote quality journalism, advance media innovation, engage communities and foster the arts. We believe that democracy thrives when people and communities are informed and engaged. For more, visit www.knightfoundation.org.