Here’s some delightful news – Snapchat just announced that it’ll be launching a new accelerator program for Black creators, which will see Snapchat provide ongoing financial support, training, and more to 25 emerging stars over the next year. We know, 25 might not sound much at all, but for such a color-disparate space such as the online domain, this number is already a record-breaker. For a little more detail and to help hype up Snap’s newest initiative, check out their official trailer.
Black Is Where It’s At
As seen in the video, through the program, selected creators will receive around $10k in funding per month for 12 months, along with early access to new and upcoming Snap features, a new Google Pixel phone, and other support measures. The program essentially turns budding creators into hybrid beta-testers + brand ambassadors/endorsers. Either way, getting selected sounds like a killer deal.
As Snap explains:
“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 broader ‘523’ initiative, which aims to provide support for small content companies and creators from underrepresented and more vulnerable groups. Alongside this is Snapchat’s ‘Yellow’ program that targets entrepreneurs who are building businesses, brands, and products ‘that can contribute to human progress’. Combining all of these, Snapchat now has a range of initiatives that are 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; 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 Snapchat, which will not only help support these emerging creators but will also help the platform improve the relations within these communities. Upholding a positive atmosphere within its communities could have long-term growth benefits for Snap, increasing both app adoption and revenue.
The Wrap
As noted by Snap, these are important social programs that can improve equity and the share of voice, opening up next-level platforms to more creators and expanding perspectives. As we all advance towards the Metaverse, the rising adoption of AR and VR put platforms like Snapchat at the forefront of discovering ways into these newer experiences. Snapchat has always been more of a personal social platform, so more representation is better, at least in this respect.
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