On Tuesday, Microsoft-owned LinkedIn announced an investment of $25 million into a 10-week LinkedIn Creator Accelerator Program that will provide 100 U.S. creators with grants, coaching, and networking support.
Participants of the LinkedIn Creator Accelerator Program Will Receive a $15,000 Grant Each
The LinkedIn Creator Accelerator Program will give accepted participants a $15,000 grant to “help them share content, spark conversations and build communities,” as announced by Andrei Santalo, LinkedIn’s global head of the community. Participants will further have opportunities to be featured on LinkedIn channels, a private coach who will propose feedback on the creator’s LinkedIn content, and early access to creator tools.
People interested in this program can apply for it until the 12th of October, and the first cohort in the program will be announced in late November, according to the application.
“My team has spent the past few months talking with hundreds of creators from around the globe about what we can do to help them be more successful on LinkedIn. What we heard is that building an audience, creating community, and being financially rewarded are some of the most important things to get right,” Santalo said.
Other Social Media Platforms are Also Using the Same Tactic
Following the move of Creator Accelerator Program, LinkedIn is now in line with the other social platforms with programs centered on developing their respective creator communities. In July, Facebook and Instagram announced that they would pay out $1 billion in creator incentives through 2022 to reward users for posting to their platforms. YouTube has a reserved a $100 million fund for creators using Shorts through 2022, while TikTok has a $1 billion fund for U.S. creators that will be given out over three years span.
LinkedIn is Observing Higher Levels of User Activity
In addition to this, LinkedIn is already observing high levels of user activity, with in-app sessions up 30% year on year, and as other platforms exploring to create a more sticky environment for creative talent, LinkedIn is also aware of the value this can bring if it can provide more incentive to keep them around.