'launch of a program' is correct and usable in written English.
You can use it to refer to the introduction of a new program. For example, "The company announced the launch of a new software program to improve customer experience."
Nintendo's launch of a "Creators Program" to share YouTube advertising revenues from videos featuring its games has been criticised by the platform's biggest star, PewDiePie.
The Walt Disney Company is getting into the startup incubator business with the launch of a new program called the Disney Accelerator.
"Today we are announcing the launch of a Lens Creative Partners program specific to building AR Lenses for brands.
YouTube today is taking on Twitch with the launch of a new program that will allow gamers to make money from their channels through the use of sponsorships.
Google announced this morning the launch of a pilot program which will allow mobile application developers the ability to advertise their apps directly within the Google Play store.
Today, Wattpad is going after its most avid readers with the launch of a new program offering exclusive stories, called Wattpad Next.
Brave also recently announced the launch of a referral program that rewards creators with BAT when they convince their fans to switch over to the browser.
Mobile ticketing app TodayTix is getting into the show production business with the launch of a new program called TodayTix Presents.
The U.S. Agency for International Development (USAID) last week announced the launch of a new program "to support improving Kosovo's ability to provide secure, cleaner, and affordable energy".
Jenkins acknowledged that the company has had issues with high student loan default rates at its schools, but added that the numbers have improved following the launch of a Corinthian program aimed at limiting defaults.
