Supabase Bootstrap is a tool that enables users to quickly set up a new hosted Supabase project using existing starter templates. It provides a "shadcn"-like experience, allowing users to create a local project and launch a remote database ready for deployment. Users can choose from various starter templates available on GitHub, which include full frontend code following a specific file structure. The process involves creating an account on the Supabase platform if one doesn't already exist. Once the linking is completed, users are prompted to push any template migration files to their new hosted project, setting up the remote database with necessary schemas. Finally, the CLI suggests a start command to launch the application locally using credentials defined in the .env file. Supabase Bootstrap aims to make it easier for developers to get started with Supabase and various web development frameworks.