Snapchat, R/GA Partner For New Startup Accelerator

Venice, California-based Snap Inc., the parent firm behind Snapchat, has joined up with R/GA Marketing--which helps run the Dodgers Accelerator in Los Angeles--to launched a new startup accelerator, the R/GA Marketing Tech Venture Studio with IPG. The new accelerator says it will invest $120,000 in funding in comapnies in the accelerator for up to 6 percent equity, with a 100 day program to be held at R/GA's New York offices. The new effort is focused on growth-stage and early-stage startups, with an emphasis on improving the reation and delivery of mobile advertising.