As reported last week, Microsoft today announced "Bing Fund," an angel fund with an incubator program, founded by entrepreneurs, sponsored by Bing, and backed by Microsoft.
Microsoft is looking for partner with like-minded entrepreneurs--"If you have an inspiring vision and you want to go big, Bing Fund can help," Microsoft wrote. "We're inviting promising startups based in the U.S. to work with us for at least four months. Instead of following a class format, we'll evaluate and accept candidates on an ongoing basis," Microsoft said.
Participants in the Bing Fund who are local to the Seattle area will also be welcome to use Bing's co-workspace in Bellevue, where they will have daily contact with the Bing Fund team, including seasoned entrepreneurs like Rahul Sood, the founder of VooDoo PC. You will also be able to interact with other hard working startups sharing the space.
"Bing Fund team members who specialize in design, engineering, marketing, and building businesses will be on hand to support every step of the way, and if you've a particular technical or business challenge, we'll connect you with the right Subject Matter Experts (SMEs)," Bing Fund team said.
Additionally, "we'll help with funding, by offering a convertible note and making introductions to strategic investors. Your IP and product, of course, remain yours, even if we give input and assistance."
As a startup in Bing Fund, you'll receive subsidized usage of unique APIs from Bing's data ecosystem and the opportunity to access certain technology assets developed by Microsoft Research.
Here's what we're looking for:
- "Startups that are building online or mobile experiences that incorporate fresh insights.
- We want startups with both inspirational vision and ability to execute
- A working prototype, preferably a site or application that is already live (i.e. people can sign up to use it) and gaining momentum
- A compelling plan that describes the problem being solved, a general idea of the market potential/competitive landscape, and unique market advantages," the team adds.