Hakuhodo DY Media Partners Inc.
D. A. Consortium Holdings Inc
Hakuhodo DY Media Partners, D.A.Consortium Holdings, and WiL launch the Media Contents Innovation Camp, a joint business incubation program with media content providers
Tokyo, December 24, 2017 ---Hakuhodo DY Media Partners Inc. and D.A.Consortium Holdings Inc. (DACHD), in partnership with California-based venture capital firm WiL, LLC, are pleased to announce the launch of the Media Contents Innovation Camp (MCIC), a joint program to incubate new businesses with media content providers (*1).
The advent of cutting-edge technologies like artificial intelligence and the Internet of Things (IoT) has dramatically transformed the media content industry landscape. Media content providers are increasingly innovating and exploring new avenues for business growth. In light of these developments, Hakuhodo DY Media Partners and DACHD have decided to offer this joint business incubation program in partnership with WiL, which has an extensive network of contacts with Japanese and American startups and a wealth of experience incubating new businesses with major corporations. We thus hope to support media content providers in their innovatory efforts and create groundbreaking businesses that integrate the latest technology with all manner of content and resources.
MCIC goes a step beyond conventional consultation services in that it provides the human resources and risk capital essential to growing a business, with the goal of developing viable enterprises in the form of joint projects and joint ventures with media content providers. By providing participating companies with the opportunity to consider investing at two separate phases — during the feasibility study and commercialization — and thus enabling them to diversify the risks, it creates the right conditions for them to try their hand at businesses with high growth potential that would be difficult to enter alone.
Three menu options are available to meet the varying business development needs of media content providers — the Discovery Workshop, Ideation Meeting, and Incubation Project — and WiL's highly experienced business development experts provide ongoing input and mentoring on advanced technology and business models. The program thus facilitates the entire business development process, including evaluating opportunities to enter growing markets and determining commercial viability, constructing a business model, and drawing up a business plan.
Hakuhodo DY Media Partners and DACHD are committed to becoming true partners to media content providers in this era of transition by assisting them, through the MCIC program, to chart a course to sustained growth in the future.
■ About WiL, LLC
WiL, LLC, a venture capital fund financed by leading companies in different industries, invests mainly in Japanese and American startups and helps grow new businesses in partnership with major corporations. In addition, it pursues open innovation by arranging collaborations between major corporations and startups, and is dedicated to spreading the entrepreneurial spirit.
By investing in WiL Fund I and WiL Fund II, and by coordinating operations with WiL’s services, Hakuhodo DY Media Partners Inc. and D.A.Consortium Inc. (DAC), a wholly owned subsidiary of DAC Holdings, incubate new businesses through open innovation and train experts in business development.
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(*1) Media companies in such fields as newspapers, magazines, radio, television, the Internet, and outdoor media, as well as companies owning sport and entertainment content and other forms of content.