Snap launches a media accelerator program with a $150,000 investment ticket

The US-based company Snap, the parent company of Snapchat, has unveiled a brand new program called Yellow. The program is made for financing entrepreneurs all around the world and promoting creative projects. Snapchat refers to Yellow as a startup accelerator, that will be investing $150,000 in startups building the next generation of media companies.

There is an application process on the “Yellow” website. You can easily click on the Apply now button to get started. We have compiled a list of steps there is to know about Yellow.

Requirements to apply:

There is no restriction on criteria of application, it can be anyone around the world as long as they are creative, with a strong vision to develop unique content. The application form includes sections such as your long-term vision, target audience and whether you have already started the idea or not. There is no restriction to the number of members in your project; you can even apply as an individual. The company says that 10 projects will be picked and the winners will be announced by the end of July.

Snap reads on the Yellow’s website,

“If you have a vision for what mobile storytelling can be, we’re interested in you! Whether you’re working on an interactive story, a show, an AR experience, building the next big media company, or something in between, let’s talk.”

Also read Snapchat CEO released redesign despite warnings from designers, report.

The criteria of the project:

Snap has the following areas of interest:

• Narrative storytelling.
• Augmented reality.
• Interactive experiences on mobile.

However, the company is open to other ideas even if they are not related to these themes. Snapchat further describes on their website, “We are excited about the future of storytelling and the creators who will push the artistic boundaries of what’s possible with mobile content. Yellow will help you shorten the time it takes to turn your brilliant idea into reality.”

See also: Snapchat hits an all-time low among millennials.

What is Snap offering?

Snap is offering $150,000 which is the biggest perk of this program. The company will also help get mentorship from the leading executives of the company as well as provide office space to the select few companies.

See also: Is Snapchat being killed by Instagram and Whatsapp?

Like Snap, other organizations including Microsoft, Oracle, and even Coca-Cola have also launched their own idea labs and incubation centers to harness the potential of youth, new business ideas in a unique way. Looking at these
start-up accelerator programs, one could assume that these companies launched their own incubators which are providing entrepreneurs with financial support now and later on if they succeed in their venture it will benefit the tech giant’s own businesses.

Applications for the Snap’s accelerator program close on July 8. Apply here.