KQED and the John S. and James L. Knight Foundation each invested $1.25 million in Matter Ventures, a media startup accelerator they've created with help from Public Radio Exchange.
Corey Ford, who ran the accelerator Runway, is CEO of Matter Ventures.
The accelerator -- publicized last year as Public Media Accelerator -- will pick startups for its four month program and pay them a $50,000 investment as they work in shared space in the South Park area of San Francisco.