Snapchat Announces New Support Program for Rising Black Creators
The start of a new accelerator program for Black creators by Snapchat has been officially announced. Over the upcoming year, 25 up-and-coming stars will receive continuing financial support, training, and other benefits.
According to the program's description in the video, chosen creators will get $10k in funding every month for a year, in addition to other perks including early access to Snap features, a new Google Pixel phone, and other forms of assistance.
According to 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.”
A component of Snap's 523 initiative, the program offers assistance to small content companies and creators from minority populations.
The company now has several initiatives aimed at assisting folks from less affluent backgrounds to acquire momentum and establish a career through the app. Snapchat also has its Yellow program, which is focused on entrepreneurs who are creating businesses, brands, and products "that can contribute to human progress."
“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%).”
Snap is making a significant effort that will not only promote these up-and-coming creators but also strengthen ties within these groups, which might have long-term advantages for the expansion and use of the app.
Additionally, as Snap points out, these are significant societal initiatives that can increase equality and voice distribution, making next-generation platforms accessible to more creators and opinions.
Platforms like Snapchat can provide a gateway into these novel experiences as we move closer to the metaverse and with AR and VR tools gaining popularity.
The more participation in this area, the better, hence this initiative is vital to Snap's progress overall.
Individuals interested can apply for the new funding program here.