Microsoft Launched Pegasus Program for Startups
Microsoft has launched a new incubator program called the Pegasus Program for Startups, which extends the Startup Founders Hub, a self-service platform that provides founders with free resources including Azure credits. The Pegasus Program selects startups with products that fill a market need and offers up to $350,000 in Azure, GitHub, and LinkedIn credits, as well as backing from advisors and access to the best Microsoft tech.
Microsoft is one of the biggest companies in the world, and it is known for being an incubator of startups. The company has launched a new program called the Pegasus Program, which is aimed at startups that have products that fill a market need. The program offers up to $350,000 in Azure, GitHub, and LinkedIn credits to the selected startups, as well as backing from advisors and access to the best Microsoft tech.
The Pegasus Program
The Pegasus Program is a two-year program that is open to startups already active in Microsoft’s Founders Hub and with customer-facing products built on the Microsoft Cloud. One of the core requirements is having early product-market fit, including revenue traction, a sales team in place, and a proven go-to-market model. The program is designed to help startups go up market to enterprise customers.
Selection Process
Startups chosen for Pegasus are assigned a vertical lead to generate sales opportunities and act as an advisor. They also get a success manager, who is responsible for helping them go to market and ensure they have the best resources for generating and developing deals. Lastly, Pegasus companies receive a dedicated cloud solution architect to support their technical success and facilitate preferred access to Azure’s AI offerings.
Benefits of the Program
The benefits of the Pegasus Program are numerous. Startups get access to up to $350,000 in Azure, GitHub, and LinkedIn credits, as well as backing from advisors and access to the best Microsoft tech. The program is designed to help startups go up market to enterprise customers.
Pegasus complements Microsoft’s various ongoing early-and late-stage startup efforts, such as Microsoft ScaleUp, Microsoft for Startups Accelerators and the Reactor series. However, what sets it apart is its focus on enterprise customers and providing startups with the resources they need to succeed in that market.
Microsoft is not alone in offering such programs, with other major players like Amazon and Google offering similar support for startups. However, the Pegasus program’s focus on enterprise customers and its AI offerings make it stand out from the rest.
For startups, the benefits of joining the Pegasus program are clear. Not only do they receive up to $350,000 in credits, but they also get access to some of the best Microsoft technology and resources. Additionally, they are assigned a team of experts who help them go to market, generate sales opportunities, and ensure that they have the best resources for developing and generating deals.
For enterprise companies, the benefits of working with Pegasus startups are also significant. They gain access to relevant solutions that can help them overcome current industry challenges, and they can invest in startups to get a short-term return on investment. Additionally, working with startups can help enterprise companies stay ahead of the curve and prepare for the disruptions that are coming.
In conclusion, Microsoft’s Pegasus program is a valuable resource for startups that are looking to scale and grow. With up to $350,000 in credits and access to some of the best Microsoft technology and resources, startups can gain the support they need to succeed in the enterprise market. For enterprise companies, working with Pegasus startups provides access to innovative solutions that can help them stay ahead of the curve and prepare for the future.
FAQs:
- How do startups apply for the Pegasus program? Startups must be active in Microsoft’s Founders Hub and have customer-facing products built on the Microsoft Cloud to be eligible for the program. They can apply through the Startup Founders Hub.
- Is the Pegasus program limited to startups that use Azure tech? While the program inherently favors startups built with Azure tech, it does not lock companies or partners into a particular cloud. Startups can use multiple clouds, including Google Cloud and Amazon Web Services, as long as they are meeting their customers’ needs.
- What are the benefits of working with Pegasus startups for enterprise companies? Enterprise companies gain access to relevant solutions that can help them overcome current industry challenges, and they can invest in startups to get a short-term return on investment. Additionally, working with startups can help enterprise companies stay ahead of the curve and prepare for the disruptions that are coming.
- What industries will receive special attention in the Pegasus program? Special attention will be paid to startups in industries like healthcare, AI, retail, and cybersecurity. Microsoft expressed outsize enthusiasm for generative AI, a particularly hot market at the moment.
- How many startups can join the Pegasus program? There’s no limit to the number of startups that can join the Pegasus program.
