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yellow accelerator program
Snap Inc. unveiled its third class of its "Yellow" accelerator program on Wednesday, which includes companies based in Lithuania, South Korea, London, Mexico, as well as Los Angeles.
The ten selected companies include a digital community for blue-collar workers, a media platform for Black millennial entrepreneurs, an AI-based mobile app to teach drawing using augmented reality, and a one-tap short-form film-making app.
The 14-week program, started in 2018, provides companies with $150,000 in funding in exchange for 6% of equity as well as office space in Santa Monica, where Snap is based, among mentorship opportunities, networking events and commercial support and partnerships that also includes an opportunity for distribution on Snapchat.
"This new class approaches mobile creativity through the diverse lenses of augmented reality, platforms, commerce and media, yet each company has a clear vision to bring their products to life," said Mike Su, director of Yellow, in a statement. "This class shows us that there's no shortage of innovation at the intersection of creativity and technology, and we're excited to be part of each company's journey."
Per Snap, the new class is made up of the following companies: Brightly based in Oakland, Calif.; Charli Cohen based out of London, UK; Hardworkers based in Cambridge, Mass.; Mogul Millennial based in Dallas, Texas; Nuggetverse based in Los Angeles, Calif; SketchAR based in Vilnius, Lithuania; Stipop based in Seoul, South Korea; TRASH based in Los Angeles, Calif.; Veam based in Seoul, South Korea; and Wabisabi Design, Inc. based in Mexico City, Mexico
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