Often, startups and mature organizations are drawn to AWS for the long-term benefits with cost. However, you may not know that AWS provides some amazing funding opportunities that can help you kickstart your venture through the cloud or migrate your existing assets to the cloud. Let’s take a quick look at some of the funding programs available by AWS.
AWS runs an amazing startup friendly program, known as AWS Activate. AWS Activate offers financial incentives as soon as you sign up for the program. Startups quality for $1,000 in AWS credits (must be used within 12 months of approval) by completing a simple application. So, does any startup qualify for AWS Activate? Well, AWS has this to say:
“AWS Activate is open to bootstrapped, self-funded, and funded startups up to and including Series A. Startups must have been founded within the last 10 years, and have a functioning website or public profile.”
While $1,000 doesn’t seem like a large sum, typical cloud startup costs tend to range between $1,000 – $3,000 in the first year, especially if you are building a serverless architecture. It gets even better. If you’re a mature startup that is backed by an AWS approved VC, you may qualify for up to $100k in AWS credits!
There’s some strategy when applying and using AWS Activate. We recommend that you wait until the first beta version of your app is ready. AWS Activate credits can be used immediately without worry of expiring and can help extend your startup’s runway.
This is one of the flagship programs for startups that need a fully functional cloud solution on AWS. Typically, AWS Jumpstart is earmarked for MVPs that leverage their promoted services. AWS Jumpstart prefers startups that build ambitious cloud projects, requiring significant investment. If you qualify for AWS Jumpstart, AWS will fund up to half of your initial statement of work (SOW) cost! In other words, your startup receives real dollars that goes toward building your product, not AWS credits that simply offset your AWS bill and sit in your account for months.
So the question is who qualifies for AWS Jumpstart? Much like AWS Activate, this program is also geared towards startups: you can be a bootstrapped or a self-funded company and are building a cloud solution on AWS at scale. Unlike AWS Activate, you are unable to apply for AWS Jumpstart on your own. You must work with an APN Partner, like Uplancer, to submit a fully-fledged SOW to AWS, detailing the scope and budget to build your app.
While this process is a big lift for any startup, the good news is that you’ll be working with a certified APN Partner who can help you properly architect a custom solution from scratch. As a result, your operational costs and scalability are optimized for the long run. Reach out to us and we can help you build your MVP with AWS Jumpstart.
Migration Acceleration Program
MAP, otherwise known as Migration Acceleration Program, is ideal for mid to large-sized companies looking to migrate their on-premises assets or cloud assets elsewhere to AWS. MAP does not have a preset amount of funding to assist you with your migration process. However, based on your unique situation, you may qualify for a one-off funding to offset some of the expenses incurred during and immediately after migration. Similar to AWS Jumpstart, you need to work alongside a certified APN partner to help you jump navigate through the entire process.
Well Architected Framework Review
This is one of the lesser known funding avenues, which applies to both startups and mature companies. In order to qualify, an APN partner must audit your AWS resources using the Well Architected Framework. Based on the audit, you may be entitled to an AWS credit amount of up to $5,000 (valid for one or two years). To kick things off, reach out to us or another certified APN partner to undergo the Well Architected Framework review.
The Bottom Line
AWS offers four major funding opportunities for businesses to use towards a new venture or to migrate existing assets to AWS. As a requirement, you’ll need to partner with an APN certified provider to walk you through the process and to apply for the right funding program. If you’re interested in building a cloud-based startup or migrating to AWS, reach out to us for guidance around the AWS funding programs as well as help build your cloud solutions!