Walt Disney (DIS -1.62%) is diving into the start-up business. The company announced that it has launched Disney Accelerator, a mentorship and seed-stage investment program. It has begun accepting applications from qualified early-stage companies that boast, in Disney's words, "innovative consumer media and entertainment product ideas." It will select 10 of them for the three-month program. 

The chosen companies will each get $120,000 in capital to help develop their businesses, with Disney executives such as CEO Robert Iger available for mentorship and advice. The 10 start-ups will also be given access to stories, technology and other resources from various properties owned by Disney.

For the 10 selected companies, the program kicks off on June 30. It culminates in an Investor Demo Day taking place in September, in which each participant will make a public presentation of his or her company.

The application deadline is April 16, and the program's URL is http://www.disneyaccelerator.com