At this past weekend's San Diego Comic-Con, Series VII was given a name: Star Trek Discovery. Bryan Fuller also made it clear that Discovery will take place in the Prime Timeline, which for all you laymen means the same timeline as each of the previous six TV shows and the first ten movies (The Motion Picture thru Star Trek Nemesis).
He also confirmed that Discovery will feature serialized storytelling, meaning each episode leads directly into the next. Given the title, and Fuller's comments (read about them here), it seems the new series will also put a strong focus on the practical aspects of Starfleet life, by which I mean following the familiar mandate of exploration rather than (presumably) the more action-oriented nature of the film series.
The title, to me, seems like another nod to Star Trek's Western, frontier-style roots. The Corps of Discovery, the team around the famous explorers Lewis & Clark, were among the early pioneers of westward expansion in the United States, a precursor to the settlements behind the concept of Wagon Train, a TV series that was one of Gene Roddenberry's inspirations for Star Trek. If much of the franchise has reflected the obvious maritime traditions behind Starfleet ranks and travels across space, it seems fitting (Deep Space Nine's outpost metaphor, the space station, is Discovery's predecessor in this regard) that the frontier returns to the forefront of a franchise that has always called space the final frontier.