Snapchat Thursday announced the launch of Yellow, an accelerator fund aimed at startups and creators building media projects specifically for mobile devices.
Snapchat said in a blog post that it will select “a small group of individuals and teams from around the world” to take part in its inaugural three-month program, and they will receive funding, mentorship, access to industry veterans, space to work at the company’s headquarters (in Venice, Calif.) and the opportunity to have their projects distributed on Snapchat.
The company said interested parties can apply here, adding, “In an ecosystem that’s rapidly evolving, we’re excited about the future of storytelling and the creators who will push the artistic boundaries of what’s possible with mobile content … Whether your thing is augmented reality, interactive storytelling, new kinds of narratives or something we haven’t even thought of yet, we can’t wait to hear from you.”
Snap Inc. vice president of content Nick Bell told Kurt Wagner of Recode 10 different creators or startups will receive $150,000 investments starting this fall in exchange for an unspecified, “small” equity stake.
Bell told Wagner, “The terms … are in line with other similar incubators and accelerators that are created with founders in mind. I think we’re going to be focused on creators, but that’s pretty broad in itself. That could be anything from AR to interactive storytelling to somebody who’s got a great script for a serialized drama.”