Snap is looking to support Black talent on their journey toward securing the bag.
During VidCon 2022, the social platform announced a new accelerator program for emerging Black creators, TechCrunch reports.
Under Snap’s 523 initiative, 25 program selectees will be paid $10,000 monthly for a year — totaling $120,000. The $3 million funding is intended to help Black creators thrive on social media through their platform. In addition, Google Pixel, UNCMMN, and Westbrook Media have hopped on board to partner with the new program.
“Black creators face unique systemic barriers across the creator industry — from disparities in compensation and attribution, to toxic experiences and more,” the company wrote in a press release, according to the outlet. “We believe one of the ways we can help remove some of those barriers is to provide mentorship and financial resources to emerging Black creators in the early stages of their professional career.”
523 launched in December 2021 as a move to champion small, minority-owned content companies and creatives, as previously reported by AfroTech. The main goal at hand is to help underrepresented creators’ social influence to match the access and resources that are offered.
“The voices of underrepresented groups have long helped shape mainstream culture, yet these creative minds often don’t see the equitable benefits from their impact,” Starr Nathan, 523 Program Manager at Snap Inc., said in a statement at the time. “If you want to make a real change, you have to embed equity in the business. That’s why we are designing tailored workshops, providing funding and helping participants build sustainable businesses.”
What’s more, Snap efforts aren’t ending there. Per TechCrunch, the company is behind Yellow — a tech incubator that invests $150,000 into creative startups. In 2021, Snap invested in seven companies that have at least one BIPOC or woman founder. According to its website, Yellow “serves companies at the intersection of creativity and technology.”
Click here to apply to Snap’s accelerator program.
Applications close on August 12.