Snowflake, announces the launch of the Powered by Snowflake Funding Program at the Snowday 2023 event, which intends to invest up to $100 million dollars toward the next generation of early-stage startups building Snowflake Native Apps. The Powered by Snowflake Funding Program features leading venture capital firms Altimeter Capital, Amplify Partners, Anthos Capital, Coatue, ICONIQ Growth, IVP, Madrona, Menlo Ventures, Redpoint Ventures, and Snowflake Ventures. As part of the Powered by Snowflake Funding Program, Amazon Web Services (AWS) will further fuel growth and innovation by providing up to $1M in free Snowflake credits on AWS.
Stefan Williams, VP Corporate Development and Snowflake Ventures, Snowflake says, “A new way to deploy enterprise applications is emerging as companies look to bring their apps and application code closer to their data. Innovative enhancements in AI enabled through Snowpark, the Snowflake Native App Framework, and Snowflake’s industry-leading data privacy, security, and governance, make it easier than ever for startups to build, deploy, and monetize enterprise apps. With our venture capital partners and AWS, the Powered by Snowflake Funding Program will accelerate this new era of software development.”
Howard Wright, Vice President and Global Head of Startups, AWS says, As more startups build and scale innovative data-intensive and AI-enriched apps, we want to offer them the resources they need to hit the market faster—and the Snowflake platform is a great example of that AWS is thrilled to contribute to the Powered by Snowflake Funding Program and make it easier for builders to connect the dots between enterprises and their customers to deliver even better products and services.”
Snowflake also unveiled advancements that make it easier for developers to build ML models and full-stack apps in the Data Cloud, innovations that enable all users to securely tap into the power of generative AI with their enterprise data, enhancements to further eliminate data silos and strengthen Snowflake’s leading compliance and governance capabilities through Snowflake Horizon, and more at Snowday 2023.