diff --git a/static/gsAdmin/components/addToStartupProgramAction.spec.tsx b/static/gsAdmin/components/addToStartupProgramAction.spec.tsx
index 8295bc9cd9c83e..df0908a33b6096 100644
--- a/static/gsAdmin/components/addToStartupProgramAction.spec.tsx
+++ b/static/gsAdmin/components/addToStartupProgramAction.spec.tsx
@@ -64,7 +64,7 @@ describe('AddToStartupProgramAction', () => {
     expect(await screen.findByRole('spinbutton', {name: 'Credit Amount'})).toHaveValue(
       5000
     );
-    expect(screen.getByRole('textbox', {name: 'Notes'})).toHaveValue('sentryforstartups');
+    expect(screen.getByText('sentryforstartups')).toBeInTheDocument();
   });
 
   it('can submit with default values', async () => {
@@ -97,7 +97,69 @@ describe('AddToStartupProgramAction', () => {
     expect(onSuccess).toHaveBeenCalled();
   });
 
-  it('can submit with custom values', async () => {
+  it('can submit with a different option selected', async () => {
+    const updateMock = MockApiClient.addMockResponse({
+      url: `/_admin/customers/${organization.slug}/balance-changes/`,
+      method: 'POST',
+      body: {},
+    });
+
+    triggerAddToStartupProgramModal(modalProps);
+
+    const {waitForModalToHide} = renderGlobalModal();
+
+    await userEvent.click(await screen.findByText('sentryforstartups'));
+    await userEvent.click(screen.getByText('ycombinator'));
+
+    await userEvent.click(screen.getByRole('button', {name: 'Submit'}));
+
+    await waitForModalToHide();
+
+    await waitFor(() => {
+      expect(updateMock).toHaveBeenCalledWith(
+        `/_admin/customers/${organization.slug}/balance-changes/`,
+        expect.objectContaining({
+          method: 'POST',
+          data: {
+            creditAmount: 500000,
+            ticketUrl: '',
+            notes: 'ycombinator',
+          },
+        })
+      );
+    });
+  });
+
+  it('shows custom notes field when "Enter custom notes" is selected', async () => {
+    triggerAddToStartupProgramModal(modalProps);
+
+    renderGlobalModal();
+
+    expect(screen.queryByRole('textbox', {name: 'Custom Notes'})).not.toBeInTheDocument();
+
+    await userEvent.click(await screen.findByText('sentryforstartups'));
+    await userEvent.click(screen.getByText('Enter custom notes'));
+
+    expect(screen.getByRole('textbox', {name: 'Custom Notes'})).toBeInTheDocument();
+  });
+
+  it('hides custom notes field when switching back to a preset option', async () => {
+    triggerAddToStartupProgramModal(modalProps);
+
+    renderGlobalModal();
+
+    // Select "Enter custom notes"
+    await userEvent.click(await screen.findByText('sentryforstartups'));
+    await userEvent.click(screen.getByText('Enter custom notes'));
+    expect(screen.getByRole('textbox', {name: 'Custom Notes'})).toBeInTheDocument();
+
+    // Switch back to a preset option
+    await userEvent.click(screen.getByText('Enter custom notes'));
+    await userEvent.click(screen.getByText('a16z'));
+    expect(screen.queryByRole('textbox', {name: 'Custom Notes'})).not.toBeInTheDocument();
+  });
+
+  it('can submit with custom notes', async () => {
     const updateMock = MockApiClient.addMockResponse({
       url: `/_admin/customers/${organization.slug}/balance-changes/`,
       method: 'POST',
@@ -115,9 +177,13 @@ describe('AddToStartupProgramAction', () => {
 
     await userEvent.type(screen.getByRole('textbox', {name: 'Ticket URL'}), url);
 
-    const notesInput = screen.getByRole('textbox', {name: 'Notes'});
-    await userEvent.clear(notesInput);
-    await userEvent.type(notesInput, 'custom note');
+    await userEvent.click(screen.getByText('sentryforstartups'));
+    await userEvent.click(screen.getByText('Enter custom notes'));
+
+    await userEvent.type(
+      screen.getByRole('textbox', {name: 'Custom Notes'}),
+      'custom note'
+    );
 
     await userEvent.click(screen.getByRole('button', {name: 'Submit'}));
 
@@ -156,7 +222,6 @@ describe('AddToStartupProgramAction', () => {
     expect(submitButton).toBeDisabled();
     expect(screen.getByRole('spinbutton', {name: 'Credit Amount'})).toBeDisabled();
     expect(screen.getByRole('textbox', {name: 'Ticket URL'})).toBeDisabled();
-    expect(screen.getByRole('textbox', {name: 'Notes'})).toBeDisabled();
     await waitForModalToHide();
   });
 
@@ -205,7 +270,6 @@ describe('AddToStartupProgramAction', () => {
       {timeout: 5_000}
     );
     expect(screen.getByRole('textbox', {name: 'Ticket URL'})).toBeEnabled();
-    expect(screen.getByRole('textbox', {name: 'Notes'})).toBeEnabled();
     expect(screen.getByRole('button', {name: /submit/i})).toBeEnabled();
   }, 25_000);
 
diff --git a/static/gsAdmin/components/addToStartupProgramAction.tsx b/static/gsAdmin/components/addToStartupProgramAction.tsx
index 86b083cbb1d8b1..f6ac174bf1e447 100644
--- a/static/gsAdmin/components/addToStartupProgramAction.tsx
+++ b/static/gsAdmin/components/addToStartupProgramAction.tsx
@@ -1,4 +1,4 @@
-import {Fragment} from 'react';
+import {Fragment, useState} from 'react';
 
 import {Flex} from '@sentry/scraps/layout';
 import {Heading, Text} from '@sentry/scraps/text';
@@ -8,6 +8,7 @@ import type {ModalRenderProps} from 'sentry/actionCreators/modal';
 import {openModal} from 'sentry/actionCreators/modal';
 import {InputField} from 'sentry/components/forms/fields/inputField';
 import {NumberField} from 'sentry/components/forms/fields/numberField';
+import {SelectField} from 'sentry/components/forms/fields/selectField';
 import {TextField} from 'sentry/components/forms/fields/textField';
 import {Form, type FormProps} from 'sentry/components/forms/form';
 import {fetchMutation, useMutation} from 'sentry/utils/queryClient';
@@ -16,6 +17,20 @@ import type {RequestError} from 'sentry/utils/requestError/requestError';
 import type {Subscription} from 'getsentry/types';
 import {formatBalance} from 'getsentry/utils/billing';
 
+const STARTUP_PROGRAM_OPTIONS = [
+  {value: 'ycombinator', label: 'ycombinator'},
+  {value: 'sentryforstartups', label: 'sentryforstartups'},
+  {value: 'a16z', label: 'a16z'},
+  {value: 'accelatoms', label: 'accelatoms'},
+  {value: 'accelfam', label: 'accelfam'},
+  {value: 'renderstack', label: 'renderstack'},
+  {value: 'finpack', label: 'finpack'},
+  {value: 'betaworks', label: 'betaworks'},
+  {value: 'alchemist', label: 'alchemist'},
+  {value: 'antler', label: 'antler'},
+  {value: 'other', label: 'Enter custom notes'},
+];
+
 function coerceValue(value: number) {
   if (isNaN(value)) {
     return undefined;
@@ -46,6 +61,8 @@ function AddToStartupProgramModal({
   Header,
   Body,
 }: AddToStartupProgramModalProps) {
+  const [showCustomNotes, setShowCustomNotes] = useState(false);
+
   const {mutate, isPending} = useMutation<
     Record<string, any>,
     RequestError,
@@ -82,7 +99,13 @@ function AddToStartupProgramModal({
     const creditAmountInput = Number(data.creditAmount);
     const creditAmount = coerceValue(creditAmountInput);
     const ticketUrl = typeof data.ticketUrl === 'string' ? data.ticketUrl : '';
-    const notes = typeof data.notes === 'string' ? data.notes : '';
+    const rawNotes = typeof data.notes === 'string' ? data.notes : '';
+    const notes =
+      rawNotes === 'other'
+        ? typeof data.customNotes === 'string'
+          ? data.customNotes
+          : ''
+        : rawNotes;
 
     if (!creditAmount || isPending) {
       return;
@@ -139,14 +162,27 @@ function AddToStartupProgramModal({
                 stacked
                 disabled={isPending}
               />
-              <TextField
+              <SelectField
                 name="notes"
                 label="Notes"
+                options={STARTUP_PROGRAM_OPTIONS}
                 inline={false}
                 stacked
-                maxLength={500}
                 disabled={isPending}
+                onChange={value => {
+                  setShowCustomNotes(value === 'other');
+                }}
               />
+              {showCustomNotes && (
+                <TextField
+                  name="customNotes"
+                  label="Custom Notes"
+                  inline={false}
+                  stacked
+                  maxLength={500}
+                  disabled={isPending}
+                />
+              )}
             </div>
           </Flex>
         </Form>