'Snap Accelerate' is the name of a new accelerator program for VC-backed mobile start-ups that desire the resources and support to "kickstart and scale [a] business with Snap."
The accelerator for consumer-focused mobile commerce, entertainment and gaming companies is offered at different tiers, beginning with the most cost-effective Kickstart, Sprint and Scale, which offer different resources based on a business' needs.
One of the first businesses to join Snap Accelerate is a start-up out of the Netherlands called 'Bux,' which is a Millennial-targeted financial mobile app. As a result of enrolling in the program, Bux anticipates that it will be better able to connect with young generations and leverage Snapchat's many tools and advertising tactics.
Social Start-Up Accelerators
Snap Accelerate Helps VC-Backed Start-Ups Leverage Snap for Business
Trend Themes
1. Startup Accelerators for Mobile Consumer-focused Companies - Snap Accelerate offers an opportunity for mobile consumer-focused startups to leverage Snap for Business.
2. Resource Tiers for Accelerators - Snap Accelerate offers different tiers of resources based on a business’ needs.
3. Financial Mobile Apps - The success of Bux in the Netherlands highlights a trend towards Millennial-targeted financial mobile apps.
Industry Implications
1. Mobile Commerce - Snap Accelerate has a specific focus on mobile commerce.
2. Entertainment - Snap Accelerate is also geared towards entertainment mobile startups.
3. Gaming - Snap Accelerate is also focused on gaming startups leveraging the platform.