Good news for media startups: “Fusing public media values with Silicon Valley entrepreneurship, KQED, the John S. and James L. Knight Foundation and Public Radio Exchange (PRX) today launched Matter Ventures, a start-up accelerator supporting media entrepreneurs building a more informed, connected, and empowered society. Reflecting their commitment to media innovation and leadership development, founding partners KQED and Knight Foundation have each invested $1.25 million in the initial $2.5 million fund, while PRX will provide strategic and management support to Matter.”

The announcement continues, “The intensive, four-month acceleration program is designed for media startups with multi-disciplinary teams who have early-stage prototypes, such as participatory platforms, mobile applications, B2B media services, and content production engines. Matter will invest in entrepreneurs who show high potential to create media ventures that make a meaningful, positive impact on society while pursuing a sustainable, scalable, profitable business model. Over the course of two years, the fund will run four class cycles, each consisting of five startups. Applications for the inaugural class, which will begin in late February 2013, will be accepted starting today through January 6th, 2013. An online application and guidelines can be found at www.matter.vc.”

Learn more here.

Image: Courtesy Matter.