Snapchat launches creative incubator called Yellow

How it works: Snap will choose a small group of individuals and teams from around the world to join its inaugural three-month program.

• Snap will provide creators the tools needed to grow a business from the ground up, "through funding, mentorship, introductions to industry veterans" and workspace in its headquarters in Venice, California. It also said it would offer the opportunity for distribution on Snap's platform.
• According to a Snap spokesperson, the company plans to give out a seed investment of $150,000.
• It is especially excited about candidates who focus projects on augmented reality, Interactive storytelling and narrative storytelling.

Snapchat says Yellow was created from its own experience building its content platform, Discover, and working with different creative partners on innovative mobile-first, vertical content.