Never miss a story

Get subscribed to our newsletter


×
FILE - A 3D printed Facebook logo is seen in front of a displayed Russian flag in this photo illustration, Aug. 3, 2018. VOA

With an aim to help small and medium businesses (SMBs) scale up their operations, Facebook on Wednesday announced partnerships with venture capital (VC) funds in the country.

The “VC Brand Incubator” will be the first in a series of programmes by Facebook to provide SMBs with timely skilling and guidance.


For the first edition of the programme, Facebook worked with Sauce.vc, a Mumbai-based early-stage venture capital fund that has partnered with startups in the food and beverages, personal care, apparel and the lifestyle space.

“With the ‘VC Brand Incubator’ programme, we hope to unlock the potential of SMBs in India, enabling them to enhance theirs as well as the country’s socio-economic growth,” said Archana Vohra, Director, Small and Medium Businesses at Facebook India.

“Working with VC funds is crucial as it allows us to scale and support SMBs at an early-stage itself, fast-tracking their growth,” Vohra added.

Facebook will work with VC funds to skill and mentor the SMBs by sharing insights on best practices, proven solutions, playbooks, vertical-insights among other key learnings.

“The programme provides a much-needed understanding of Facebook, its family of Apps, and the digital landscape. As a consumer-focused investor, we look for social marketing expertise in teams that we back as it is a huge driver of success for small startups that have to optimize every rupee spent,” informed Manu Chandra, Founder, Sauce.vc.


FILE – Facebook CEO Mark Zuckerberg speaks at a Facebook developer conference in San Jose, California, May 1, 2018. VOA

India is home to one of the largest startup ecosystems in the world, and venture capital funds are an integral part of this network.

Prime Minister Narendra Modi has promised to facilitate the setting up of 50,000 new startups in India by 2024. The central government would also create a ‘Seed Startup Fund’ of Rs 20,000 crore.

According to IT industry’s apex body Nasscom, India added 1,200 new technology startups in 2018. There are now about 7,700 tech startups in the country, making it the third largest in the world, the report said last year.

The “VC Brand Incubator” programme is a series of events that woild be held across Mumbai, Bengaluru and other key cities.

Also Read: Safeguarding Government Customers’ Data Topmost Priority: Samsung

The first programme was held last month in collaboration with Sauce.vc and saw participation from 25 brands of which five were women-led businesses.

Facebook recently announced an investment in Meesho, a social commerce company empowering first-time entrepreneurs, especially women, across Tier-2 and Tier-3 towns in India.

Facebook is home to more than 90 million small businesses globally. (IANS)


Popular

wikimedia commons

Mortgage loan graph

By- Blogger Indifi

EMI is known as equated monthly installments. It is a fixed payment made by the borrower each month to repay the loan amount. The EMI is divided into two loan components. One is the principal amount, and the second is the interest amount. Whether you are applying for a personal loan, business loan, home loan, car loan, or education loan, EMIs are easy to calculate using the EMI loan calculator.

Keep Reading Show less
Photo by Flickr.

Swastika, one of the sacred symbols used by many religions like Hinduism, Jainism, and Buddhism.

The symbol of Swastika is known to signify peace, prosperity, and good fortune in the religious cultures of Eurasia. In fact, this symbol is considered very significant in Hinduism, Buddhism, and Jainism. But, at the same time, it has become one of the most misunderstood religious symbols and has been globally banned in many countries.

The reason why the symbol of Swastika is banned in many countries is because of its association with Adolf Hitler's extreme political ideology, Nazism, as Swastika as its official symbol.

Keep Reading Show less
Pixabay

Since emerging into the public eye with a historic gold medal at the junior world championships in 2016, he has maintained a high level of performance

India celebrated a historic day on August 7, as 23-year-old Neeraj Chopra became the first Indian to win an Olympic gold medal in athletics. In the men's javelin throw event, he achieved his greatest triumph, throwing the javelin 87.58 meters on his second try.

Neeraj Chopra was born on December 24, 1997, in Khandra village in Haryana's Panipat district. He grew up in a Haryanavi family of farmers. He is the brother of two sisters. He graduated from Dayanand Anglo-Vedic College in Chandigarh and is now enrolled in Lovely Professional University in Jalandhar, Punjab, pursuing a Bachelor of Arts degree. Chopra was bullied due to his obesity as a kid, which prompted his father to enroll him in a nearby gym. He then joined a gym in Panipat, where Jaiveer Choudhary, a javelin thrower, noticed his potential and coached him. When the 13-year-old Chopra finished training under Jaiveer for a year, he was enrolled at the Tau Devi Lal Sports Complex in Panchkula, where he began training under coach Naseem Ahmed.

Keep reading... Show less