New York City might be the next Sillicon Valley. This year, in the spring, New York Times will select startups, which will receive an invitation to participate in a program called TimeSpace.
There will be accepted three to five early-stage startups for a four months partnership. Keep in mind that unlike other incubators, TimeSpace is not a funding platform and is not requiring an equity stake in the startups, although the company said that it might invest in select companies participating. Times’s current investments include Digg.com, Wordpress.com, Brightcove, and Federated Media.
The selected companies will have the opportunity to demonstrate their capabilities while working with NYTimes employees. The New York Times mentioned the best candidates must focus on areas like mobile, social, advertising technology, video, analytics and e-commerce.
General Manager at New York Times, Denise Warren said in statement that the company is maintaining relationships with entrepreneurs, but a close interaction for temporary period of time has the potential to enhance the exchange of ideas.
TimeSpace will be beneficial for both sides. On one hand the NewYork Times could use some new ideas and on the other hand the startups can learn from a prestigious media company.
In 2012, the BBC released a similar program for digital startups called BBC Labs. Plus others: Matter Ventures, Digital Challenge and Turner Broadcasting’s Media Camp.
The deadline for applications is February 19th, but it is believed that there may be a series of timeSpace programs.
If you want to apply go here and let us know how your company is evolving.