Got An Idea? You Could Get $150,000 From Snap

When Snapchat rebranded as Snap, Inc. in late 2016 and called itself a camera company, it made clear its aspirations went beyond flower crown filters and Bitmoji. But besides unveiling two versions of Spectacles, Snap's releases in the years since have remained largely in-app — from the launch of Snap Map to a questionable redesign earlier this year.

Now, it's finally branching out a bit further. Today, the company unveiled a brand new program, Yellow, aimed at cultivating creative projects. Yellow is a startup accelerator for "entrepreneurs who are looking to build the next generation of great media companies."

There's an application process and $150,000 in funding for the lucky winners. Ahead, a full breakdown of everything there is to know about Yellow.

Anyone can apply (you don't need to be a U.S. citizen), so long as you consider yourself a "creative with a strong vision." You can't BS your way in, though: The online application, open through July 8, 2018, asks you to explain your long-term vision, target audience, and, if you've already started, lay out where your work stands so far.

You can apply as an individual or as a team of up to four people. Ten total projects will be picked. If you're one of the chosen ones, you'll know by late July.

What kinds of projects does Snap want? On the Yellow website, Snap lays out three areas of interest that are in line with what a lot of tech companies are putting money towards these days — augmented reality, interactive experiences on mobile, and narrative storytelling. But the company says any ideas are welcome, and its looking for categories that span from beauty and style to travel.

Oh, and just because Snap is hosting you, that doesn't mean your project needs to be for Snapchat.

The biggest perk is undoubtedly the $150,000 investment you'll get from Snap to help fund your idea. (The company will have a stake in your project, which it says is comparable to other accelerators.) However, the company is also promising mentorship from executives, networking events, and a "creative office space."

You'll be required to spend three months — September 10, 2018 through December 7, 2018 — working full-time out of the Yellow offices in Venice, CA. The digs used to belong to the designers Charles and Ray Eames, so Snap is likely hoping their creativity will ooze from the walls and into participants' projects. (Hopefully, "Yellow" will not play on repeat, but there's no guarantee.)