ZDNETSubstack, a newsletter platform widely known for housing independent writers, journalists, and even up-and-coming individuals seeking to enter the media landscape, just launched a $20 million “Creator Accelerator Fund” to attract TikTok creators and influencers from other social networking platforms.How Substack’s creator fund worksAccording to a statement provided by the company on Thursday, the “Creator Accelerator Fund” aims to “help creators expand their reach and business by taking advantage of Substack’s growth network and full suite of publishing, community, and discovery tools.”Also: No, RedNote is not the new TikTok – and here’s whySubstack also detailed that the fund will pay content creators to move their paid subscription audiences exclusively to Substack. To avoid any loss of revenue creators may accrue as a result of the migration, the program will cover 100% of the revenue creators were making on their previous platform for the first year.Moreover, the company is explicitly looking to invest in US-based individual creators or small groups “who have a monthly recurring revenue (MRR) of at least $2,000” on subscription-based platforms such as Patreon, Memberful, or Circle. The platform is even pairing creators with a member of Substack’s Partnerships team, who will assist creators in moving their paid subscription audience to Substack by providing “advice and support” as well as “guiding [creators] through key launch moments and setting up your publication for maximum success,” according to a Substack blog post.Also: TikTok creators can earn big cash bonuses by posting on Facebook and InstagramOver the last few years, Substack has attracted thousands of independent writers, journalists, and creators by allowing them to monetize their content through paid newsletters. Recently, the platform has become a unique destination for alternative media publications like Mehdi Hasan’s Zeteo, the leftist outlet Drop Site News, former WashPo journalist Taylor Lorenz’s User Mag, and culture critic Hunter Harris’ Hung Up. More