Prequel Launches Venture Studio Program, Will Invest $10M Annually to Foster Tech Startups
The company is currently accepting applicants within the fields of AI, computer vision and AR-based visual art, to provide mentorship and funding
NEW YORK, July 6, 2021 /PRNewswire/ -- Prequel, the popular creative photo and video editing app, announced today the launch of Prequel Venture Studio (PVS), a program that will nurture early stage tech startups in the fields of AI, computer vision, and AR-based visual art. Through PVS, Prequel will invest $10 million annually across the selected startups, and provide mentorship in the areas of technology and overall business development.
Open to creators globally, PVS recently began accepting submissions via an online form beginning on June 28th. Applicants will be judged on the possibility of technical implementation of the projects, business logic, and overall market demand. After careful consideration, the PVS team will admit qualified startups into the program and work directly with them to build and grow their concept.
"Prequel has evolved from being trend followers to trendsetters, and that is what we are looking for in our applicants," said Timur Khabirov, CEO and co-founder of Prequel. "We believe that art and technology play a pivotal role in the way we define and reshape the world we live in. The mission of PVS is to improve AI technologies by attracting and fostering a community of creators that will be able to propel the visual tech industry into the future. We are excited to see fresh concepts that marry AI, creativity, and empathy for the user."
Founded in 2018 by Khabirov and Serge Aliseenko, Prequel has been able to position itself as one of the Top 10 photo and video editing apps in the U.S. With more than 60 million users and an average of 2 million Prequels made a day through social platforms like TikTok and Instagram, Prequel appeals to a wide array of creators including influencers, brands, and celebrities such as Kim Kardashian, Bella Hadid, and Rihanna. After obtaining success in a short period of time, the company strives to give back by mentoring the next generation of creators.
To learn more about Prequel Venture Studio, please visit https://www.prequel.app/foundation.
To learn more about Prequel, please visit https://www.prequel.app/.
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