"Snowflake has launched a new program specifically aimed at young technology companies. Under the name Snowflake for Startups, the data giant wants to make capital, technical resources, and market opportunities available to companies that build their software on the Snowflake platform. This replaces the company's previous Powered by Snowflake program and increases the emphasis on artificial intelligence. The initiative is supported by Snowflake Ventures, the company's investment vehicle."
"This fund has announced that it will increase its investment rate by 30 percent this year. The goal is to expand the portfolio and the number of exits to 65. To this end, the company is collaborating with a network of more than a dozen venture capital funds, including Coatue, Greylock Partners, Madrona Ventures, and Capital One Ventures. For the investors involved, this means early access to promising startups that are developing their solutions on top of Snowflake."
"A variety of support is available for startups themselves. In addition to free cloud credits and technical guidance, Snowflake offers a six-month accelerator program. The Startup Accelerator is designed to help young companies with go-to-market support, technical expertise, and direct visibility within Snowflake's global ecosystem. According to the company, the number of applications for this program has already tripled this year."
"A key focus is on artificial intelligence. Startups involved in AI will have access to special computing power within Snowflake's security environment. This will enable them to run inference workloads on multiple frontier models managed by Snowflake itself. This should enable companies to develop their AI applications faster without having to make major investments in their own infrastructure. The launch of the program coincides with the opening of the Silicon Valley AI Hub in Menlo Park."
Snowflake for Startups offers capital, technical resources, and market opportunities to companies building on the Snowflake platform. Snowflake Ventures will boost investments by 30 percent this year to expand the portfolio and aim for 65 exits. The program partners with more than a dozen venture capital funds, providing investors early access to Snowflake-based startups. Startups receive free cloud credits, technical guidance, and a six-month Startup Accelerator focused on go-to-market, technical expertise, and visibility. Applications for the accelerator have tripled this year. AI startups get access to managed frontier-model inference compute within Snowflake’s secure environment, reducing infrastructure needs. The launch aligns with a new 28,000-square-foot Silicon Valley AI Hub in Menlo Park offering coworking space.
Read at Techzine Global
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