Earlier this week, we reported on The Bing Fund, which was basically in the “coming soon” stage. Now, it’s here.

On the BingFund homepage, it says, “Hi, we’re an angel investor with an incubator, working with hot startups to innovate online.”

According to the site, Bing Fund intends to focus on a few startups at a time, and as it graduates one out of the program, it will fill the spot with another. Bing Fund says it offers:

• Subsidized use of unique APIs from Bing’s data ecosystem
• The opportunity to access certain technology assets developed by Microsoft Research
• Assistance from Bing Fund team members who specialize in design, engineering, marketing, and building businesses
• Consultations with Subject Matter Experts at Microsoft, some of whom are world experts in their areas
• Exposure to Microsoft executives
• Connections with our partners and customers
• Funding
• Co-workspace for startups located in the Seattle area.

Bing says Bing Fund is looking for startups that are building online or mobile experiences that incorporate “fresh insights,” and that have both inspirational vision and ability to execute. A working prototype (preferably with a site or app that is already live) and gaining momentum is required.

Startups will work with Bing Fund for a minimum of four months.

More info is available on this FAQ page.