The New York Times is going through a rough time right now. They are in the middle of staffing cutbacks that are coming in the form of layoffs and voluntary buyouts. New York Times editor Jill Abramson has said there were far few layoffs than they had anticipated, primarily because of voluntary buyouts.
Although the times proper is reducing staff, they have announced a new initiative to spearhead innovation at one of America’s most widely known newspapers.
The new program called timeSpace is somewhere between in incubator and an accelerator. “You may call it an accelerator or an incubator; right now we are calling it an experiment” they wrote on their blog.
The Times is not seeking equity on the companies that apply and are accepted into the program. They hope that when a company that goes through the program, raises institutional financing, that they will be invited to participate. They are leaving that decision to the startup.
timeSpace is seeking media focused startups with a product launched. The startups will either already be based in New York City or willing to relocate to work in the space that’s in their headquarters at Times Square (620 8th Ave). Startups in the mobile, social, video, advertising technology, analytics, or e-commerce spaces are invited to apply for the four month program.
Over the four month period selected startups will be invited to work and grow alongside entrepreneurs and employees who make their livings in digital media, technology and journalism.
We are based in New York City, with six bureaus in the region, fourteen national news bureaus and twenty-four foreign news bureaus. We have more than 1.5 million print and digital subscribers and had 49.4 million unique visitors to NYTimes.com in December 2012. More importantly, we are journalists, developers, designers, product managers and more who are proud to work at the news organization that has won 108 Pulitzer Prizes and Citations. The paper said.
Applications are being accepted through 5pm EST February 19th here. There is no seed capital involved.