Snowflake Announces Global Startup Challenge with up to One Million Dollar Investment

Rhea-AI Summary

Snowflake (NYSE: SNOW) announced the commencement of its Global Startup Challenge at the annual BUILD Summit. This initiative invites startups with under $5M in funding to develop data applications leveraging Snowflake's Data Cloud. Three finalists will compete for a chance at total investments of up to $1M and global marketing exposure. Applications are open from October 4, 2021 to March 1, 2022, with winners announced during the Snowflake Summit in Summer 2022.

Positive

• Opportunity for startups to receive up to $1M in investments.
• Global marketing exposure for finalists, enhancing their visibility.
• Encourages innovation in data applications within the Snowflake ecosystem.

Negative

• None.

Applications built on the Data Cloud by entrepreneurs and early-stage startups around the world will be considered for investment and global marketing exposure

No-Headquarters/BOZEMAN, Mont.--(BUSINESS WIRE)-- Snowflake (NYSE: SNOW), the Data Cloud company, announced today during its annual BUILD Summit, the next Global Startup Challenge for early stage companies innovating in the Data Cloud. Following the success of the first Startup Challenge from Snowflake, which saw hundreds of registrations from more than 50 countries, the next Global Startup Challenge offers the three competition finalists the opportunity to be considered for an investment (total of up to one million dollars across the three finalists), as well as marketing exposure at a global scale.

The Startup Challenge invites entrepreneurs and early stage organizations, that have raised less than $5M in funding, to showcase a data application with Snowflake as a core part of their architecture. Three finalists will be chosen for the chance to pitch their product to a judging panel including senior industry leaders:

• Benoit Dageviille, Co-Founder and President of Products at Snowflake
• Denise Persson, Chief Marketing Officer at Snowflake
• Jayshree Ullal, President and CEO at Arista
• Carl Eschenbach, Partner at Sequoia Capital

Snowflake Startup Challenge winners will be announced at Snowflake’s annual Snowflake Summit in Summer 2022. Application submissions open on October 4, 2021 and the deadline to submit applications is March 1, 2022.

“It was an honor for our team at OverlayAnalytics to be named the winner of Snowflake’s first Startup Challenge,” said OverlayAnalytics founder and CEO, Bryan Shupe. “Snowflake’s Data Cloud delivers the powerful and scalable infrastructure needed for our financial reporting application. The Challenge drove us to mature as a business, opened new doors for promoting our product, and has given our business the ability to expand our team of data scientists and analysts so we can continue to innovate.”

Currently, hundreds of data applications—including those from large software companies as well as startups—are powered by Snowflake. With key features like separation of compute and storage, support for semi-structured and unstructured data, secure data sharing, and ability to code in the language of the developer’s choice, Snowflake enables startups to accelerate time to market and deliver great applications to customers.

“With the Data Cloud, startups can focus on building and growing their data applications rather than managing infrastructure complexity,” said Snowflake Co-Founder and President of Products, Benoit Dageville. "We were so impressed with the ideas and execution showcased during the inaugural Startup Challenge and look forward to seeing how this years’ participants come up with innovative solutions that complement and extend Snowflake’s technology to accelerate our mission of mobilizing the world’s data."

Submit your application for the Snowflake’s Global Startup Challenge and review the Official Rules.

Learn More:

• Register for Snowflake BUILD, the Data Cloud Dev Summit, and get access to developer-focused tech talks, hands-on labs, panel discussions, and customer stories.
• Read about the Data Cloud for Developers.
• Stay on top of the latest news and announcements from Snowflake on LinkedIn and Twitter.

About Snowflake

Snowflake enables every organization to mobilize their data with Snowflake’s Data Cloud. Customers use the Data Cloud to unite siloed data, discover and securely share data, and execute diverse analytic workloads. Wherever data or users live, Snowflake delivers a single data experience that spans multiple clouds and geographies. Thousands of customers across many industries, including 212 of the 2021 Fortune 500 as of July 31, 2021, use Snowflake Data Cloud to power their businesses. Learn more at snowflake.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211004005155/en/

Danica Stanczak

Sr. PR Manager, Snowflake

press@snowflake.com

Source: Snowflake Inc.

FAQ

What is the Snowflake Global Startup Challenge?

The Global Startup Challenge invites early stage companies to develop data applications using Snowflake's Data Cloud, with a total investment prize of up to $1M.

When does the Snowflake Global Startup Challenge open?

Submissions for the Global Startup Challenge open on October 4, 2021, and close on March 1, 2022.

How many finalists will be selected in the Snowflake Startup Challenge?

Three finalists will be chosen to pitch their applications to a panel of judges.

Where and when will the winners of the Snowflake Startup Challenge be announced?

Winners will be announced at Snowflake’s annual Snowflake Summit in Summer 2022.

What is required for startups to participate in the Snowflake Global Startup Challenge?

Startups must have raised less than $5M in funding and must showcase a data application integrated with Snowflake's architecture.