Snap Inc. is now accepting applications for the second class of its Yellow accelerator program, which it introduced last May.
The company will choose up to 10 companies to receive investments of $150,000, along with commercial support, partnerships, mentorship from veterans in the industry, access to networking events with creatives and media luminaries and office space.
Applications will be open here through March 31, with the summer program kicking off June 17 and wrapping up Sept. 20.
Snapchat’s parent company provided details on the types of companies it is looking for to participate in Yellow’s second class.
Snap said it is bullish on the future of digital media, regardless of the format, and it is seeking fresh new voices in video, audio and editorial who have unique ways to pursue well-defined audiences.
The company also sees tremendous opportunity in brands that were created by talent, with an eye toward helping that talent scale their businesses.
Commerce is key for Snap, as well, with the company seeking companies that can tell their stories in unique ways and build awareness at the top of the funnel in order to drive transactions at the bottom of the funnel.
And naturally, mobile is top-of-mind, with Snap looking for new ideas in mobile storytelling, including interactive content and experiences, augmented reality and games.
Snap also provided a snapshot of Yellow’s inaugural class.
The company received almost 1,300 applications and ended up investing in nine companies. While distribution via Snapchat was not a requirement, six of the nine checked that box.
The first class, with their Snap affiliations in parentheses, where applicable, was made up of:
- AN/RK (official lens creator)
- ConBody (Prison Hacks show)
- Hashtag Our Stories (curation partner)
- ID:K (Publisher Stories)
- LoveStories TV (curation partner)
- Selfie Circus
- Space Oddity Films
- Toonstar (shows)
Aside from investment capital, benefits received by those companies included: discussions on mobile storytelling with Snap executives; fireside chats and luminary dinners with entertainment, investment and media leaders; visits to other leading media companies; and office hours with Snap and industry mentors.
Snap said more than 130 investors and executives from Snap and media companies attended the Demo Day for that class, last Dec. 5.