Wattpad this week announced the launch of Wattpad Labs, an innovation lab for emerging products.
The Toronto-based company says its lab will invite teams outside of Wattpad to help develop “the next breakthrough storytelling product.”
Wattpad’s head of product, Seema Lakhani, will lead the new initiative.
“I rarely talk about the amazing things happening in the Toronto technology and innovation sector without mentioning Wattpad,” says Mayor John Tory. “[Founder] Allen Lau is building his team and his company on the strength of the incredibly diverse talent our city has to offer, and Wattpad Labs is the latest example of his incredible vision and his belief in what the people of Toronto can achieve.”
The Canadian company is accepting applications from those “who are passionate about the future of entertainment and exciting about the changing nature of storytelling.” Teams, which will be evaluated on a rolling basis by a selection committee of Wattpad workers, are to consist of two to three people who possess complementary skills and experience building startups.
A team at Wattpad Labs will have three months of paid residency to develop, validate, and iterate their product under mentorship.
Emerging products are a key component of Lau’s master plan for Wattpad.
55 million people spend a combined 15 billion minutes on Wattpad each month.