Snowflake, the Data Cloud platform based in the US, announced its first-ever Global Startup Challenge, with the winner receiving up to $250,000.
“This competition will showcase the power of data network effects while also expanding their reach. We look forward to rewarding a top startup who both embodies and employs the Snowflake vision: To mobilise the world’s data,” Snowflake Co-Founder and President of Products, Benoit Dageville said.
The company recently listed on the New York Stock Exchange and their shareholders include Warren Buffett’s Berkshire Hathaway.
Who is eligible for the investment?
The company invites any early stage organisations that are building applications in the Snowflake Data Cloud to showcase their innovations via online submission.
Individuals and sole proprietorships are not eligible for entry.
When will applications close?
Applications are open until 30 March 2021. Ten semi-finalists and three finalists will be announced on April 30 and May 21, 2021.
Between June and August 2021, the three finalists will pitch to a live audience of judges at the 2021 Snowflake Summit, either in-person or virtually.
The winner will be announced by August 2021.
What is the prize?
The winner of the Startup Challenge may receive up to US $250,000 from Snowflake along with access to a global network of resources, including venture capital funds and data experts.
Startups that take part in the Competition will be judged on a set of criteria, including business potential, level of innovation, and the use of Snowflake’s unique capabilities for their product.
Snowflake’s single, integrated platform enables startups to focus on building their data applications, without the burden of managing complex infrastructure. Software teams in hundreds of startups and enterprises are already innovating in the Snowflake’s Data Cloud, leveraging the global network where thousands of organisations mobilise data with near-unlimited scale, concurrency, and performance.
“Snowflake’s architecture makes it an ideal platform for developing data applications, and we continue to be impressed with how application builders innovate to launch their own data products in the Data Cloud,” said Mr Dageville.
Snowflake’s platform provides many capabilities for startups – including separation of computing and storage, auto-scaling, per-second pricing, native support for semi-structured data, and secure data sharing – to help build differentiated applications, faster.
Learn more about the Snowflake Startup Competition here: https://www.snowflake.com/startupchallenge/