In May, YouTube’s former head of global creator partnerships, Benjamin Grubbs, launched Next 10 Ventures. Having itself raised $50 million in venture funding, Next 10 was founded to invest in other businesses within the digital creator economy.
Today, it has unveiled its first such endeavor in a bid to support emerging video creators across the globe who produce learning content, dubbed EduCreator Incubator. The incubator will tender investments ranging from $25,000 to $75,000 apiece — as well as offer programmatic support, mentorship, business planning guidance, and emphasize creator well-being. The program will welcome between 25 and 40 creators and last for a full year.
Next 10 says that it is looking to support “sustainable and scalable businesses” with a “focus on meaningful content” and an end-goal of growing the total number of full-time education creators working online today. The company has chosen to hone in on educational content as recent studies have found that Gen Zers are increasingly naming YouTube as their preferred learning venue. At the same time, the e-learning market is set to topple $243 billion by 2022, according to reports.
The EduCreator Incubator will be overseen by Next 10’s newly-hired VP of marketing, Cynthia So Schroeder. A tech exec for over 20 years, Schroeder most recently served as head of eBay’s global community development and engagement group. An advisory council comprising top creators has also been set up to mentor those who have been accepted into the program, including monk-turned-inspirational creator Jay Shetty, CuteGirlsHairstyles creators Shaun and Mindy McKnight, and WeCreateEdu founder Jacklyn Duff.
“We have seen firsthand how impactful creators can be in supplementing and strengthening classroom instruction,” Grubbs said in a statement. “Through investment, mentorship, and wellness support, we are helping creators transform their passion for creating inspiring and entertaining education content into full-time careers and inspire kids around the world to seek out fields of study across social sciences, arts, humanities, STEM, and more.”
The program is currently accepting applications. To qualify, education creators must have a minimum of 750,000 total views on one platform, 50,000 subscribers, and at least eight uploads over the past 12 months. Applications are due on Nov. 17, and winners will be announced in February. Winners must agree to a revenue share with Next 10 throughout their time in the incubator, and Next 10 says that its share of these earnings will be reinvested back into a growth fund for education and learning creators.