Walt Disney Co. of Burbank has parted ways with Techstars, the company running its accelerator program, reports the L.A. Times.
The two companies separated after their two-year contract ended, according to the report. Disney will continue to run the accelerator on its own and is recruiting its third class of companies for the three-month summer program.
The Disney Accelerator provides 10 companies with mentorship, a $120,000 investment and the opportunity to leverage Disney resources. The accelerator launched in 2014.
Techstars of Boulder, Colo. started as an independent startup accelerator in 2006, but has expanded by running accelerator programs for a number of corporations such as Cedars-Sinai, Barclays and Virgin Media. Its partnership with Disney was the most high-profile example of that business model.
A Disney spokeswoman declined to comment on the end of the relationship with Techstars. Techstars did not respond to a request for an interview.
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