Snapchat is launching a new accelerator program for Black creators, committing to ongoing financial support, training, and more toward 25 emerging stars over the course of a year.
 Selected creators will get $10k in funding every month for 12 months through the program, along with early access to Snap features, a new Google Pixel phone, and other support measures.
 As Snap explains:

We collaborated with Google Pixel, UNCMMN, and Westbrook Media to aid the creators who make the best work with some of the finest devices, industry mentors, hands-on learning experiences, and financial support. Creators would be chosen based on their specific voice, alignment with Snap's values and vision for their careers, without taking into consideration follower counts or experience with other brand partnerships.

This is part of Snap's 523 initiative, which supports small content companies and underrepresented creators, and Snapchat also has its Yellow program, which targets entrepreneurs building businesses, brands, and products 'that can contribute to human progress', and, in combination, the company now has a range of initiatives 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; and 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 Snap, which would not only help support some emerging creators but help Snap cultivate bonds within these communities that, in turn, could have long-term benefits for growth and adoption of the app.

And as Snap points out, these are socially important programs that can improve equity and share of voice, bringing next level platforms to more creators and perspectives.

And as we enter the metaverse, or more adoption of AR and VR tools, here's an entry point that Snapchat can provide into these new experiences. The more representation in this regard is the better, and that's why it is so important for Snap's larger development program.