DigitalOcean that offers cloud infrastructure and virtual servers
to software developers has introduced Hatch
, a program specially designed to support startups as they launch and scale. Hatch (currently in beta) an online incubator program allow startups to receive access to both DigitalOcean credit (up to $100,000 in infrastructure credit for 12 months) and a range of other resources like one-on-one technical consultations. The program also provides startups with free technical training, mentorship, priority support, and an opportunity to connect with other startups, accelerators, and investors.
Ben Uretsky, CEO and Co-Founder, DigitalOcean, said:
“Use of the cloud has significantly decreased the capital required to start a business, yet still remains one of the largest expenses founding teams face in the early days. We got started as part of the Techstars accelerator program so we understand, firsthand, the challenges and what it takes to launch and scale a company. That’s why we’re supporting the next generation of startups in getting their products off the ground.”
The company also offers exclusive chats with DigitalOcean founders, along with participation in local events, and aids startups with technical content and support from the Hatch developer community. Hatch is currently dealing with few startups that includes, 500px, InfluxDB, Spot Hero, Flat, GitLab, Oyo, Instamojo and Bench.
Eligibility criteria for a startup
The company is conducting the program to a small group of startups and it claims that being in beta, it will be working to refine the offering and eligibility criteria for future bootstrapped and funded startups who apply. Startups who’ve received previous DigitalOcean promotional credit may not be eligible to receive additional credit. The Hatch eligibility requirements for startups are:
- Must be backed by a partner accelerator, incubator, or VC firm
- Less than 24 months in company duration
- Less than $10 million raised, up to Series A
Earlier this year in May, DigitalOcean launched its new data center in Bangalore, India to support India’s fast-growing developer & startup ecosystem. Moreover in the month of April this year, it secured $130 million of credit facility to continue its mission of building a next generation cloud for scaling startups and software defined businesses.