Snapchat has announced the launch of a new accelerator program for Black creators, which will see Snap provide ongoing financial support, training and more to 25 emerging stars over the next year.
As outlined in the video, selected creators will receive $10k in funding per month for 12 months through the program, along with early access to Snap features, a new Google Pixel phone, and other support measures.
As explained by Snap:
“We partnered with Google Pixel, UNCMMN, and Westbrook Media to support participants with some of the best devices, industry mentors, hands-on learning experiences and financial backing. These creators will be selected based on their unique voices, alignment with Snap’s values, and vision for their career, without giving preference to follower numbers or previous brand partnership experience.”
The program is part of Snap’s 523 initiative, which provides support for small content companies and creators from underrepresented groups. Snapchat also has its Yellow program targeted towards entrepreneurs who are building businesses, brands, and products ‘that can contribute to human progress’, and in combination, the company now has a range of initiatives designed to help those from less privileged backgrounds gain traction and build a career via the app.
“In our 2021 Yellow accelerator class, seven out of nine companies have at least one BIPOC or woman founder; 52% of our founders are BIPOC; and 56% are BIPOC-founded companies. Historically, across all of our classes, 22 out of 39 companies had at least one BIPOC founder (56%).”
It’s an important push from Snap, which will not only help to support these emerging creators, but will also help Snap enhance bonds within these communities, which could have long-term benefits for growth and adoption of the app.
And as Snap notes, these are important societal programs, which can improve equity and share of voice, opening up next level platforms to more creators and perspectives.
And as we advance towards the metaverse, and rising adoption of AR and VR tools, platforms like Snapchat can offer a way into these newer experiences. The more representation in this respect, the better, which is why this is such an important program in the broader scheme of Snap’s development.
People can apply to the new funding program here.