Microsoft to provide $350,000 loan to startups

Microsoft has launched the Pegasus program, which provides loans of up to $350,000 for entrepreneurs. “Given the current economic environment, Microsoft’s Pegasus Program for Startups stands out. In a capital-constrained environment, we provide credit support to startups,” said Hans Yang, General Manager of Microsoft Startups. American technology giant Microsoft has announced the launch of the Pegasus program, which provides loans of up to $350,000 for startup entrepreneurs. Microsoft is expanding its Startup Founders Hub, a self-service platform that provides free resources, including Azure loans, with a new incubator program called the Pegasus Program. “Considering the current economic climate, Microsoft’s Pegasus Program for startups is very valuable,” said Hans Yang, General Manager of Microsoft Startups. Pegasus is a two-year program that features startups that are already active in Microsoft’s Founders Hub and customer-facing products built on the Microsoft Cloud. All startups selected to Pegasus will be assigned a vertical lead to generate sales opportunities and mentor them. Additionally, startups will have a success manager who is responsible for the process from going to market, to closing deals, to ensuring they have the best resources to develop their projects,” Microsoft said. Pegasus has reportedly backed over 100 startups with an average deal size of over $300,000. In total, Microsoft has committed over $35 million in technology loans to these startups.