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WhatsApp Announces Investment of $250,000 into Indian Startup Ecosystem

In three years, over 19,000 startups have been registered with the Startup India programme across 513 districts

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FILE - The WhatsApp app logo is seen on a smartphone in this picture illustration. VOA

Facebook-owned WhatsApp on Monday announced to invest $250,000 worth ad credits into the Indian startup ecosystem to help entrepreneurs better connect with customers and grow businesses.

The investment will provide 500 startups approved by the Department of Industrial Policy and Promotion (DPIIT) with $500 each of Facebook ad credits.

With the credits, startups can create ads that invite customers to click to open a chat on WhatsApp so they can deepen connections and increase sales, the company said in a statement.

“India’s entrepreneurs are at the forefront of bringing impactful social and economic change, and we at WhatsApp are committed to providing them support in achieving success,” said Abhijit Bose, Head of WhatsApp India.

In order to be eligible, startups must be at an early traction or scalable stage and must be recognized by DPIIT. Selection will be on first-come-first-serve basis and once registered, the first 500 entries will receive free Facebook ad credits worth $500, said WhatsApp.

Currently, one million businesses in India are actively using the WhatsApp Business app to have meaningful conversation with their customers.

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Silhouettes of mobile users are seen next to logos of social media apps Signal, Whatsapp and Telegram projected on a screen in this picture illustration. VOA

Globally, five million businesses are using WhatsApp for the same purpose.

The investment is part of a tie-up with Startup India, a flagship initiative of the government that was launched in 2016 to build a strong ecosystem for nurturing innovation in the country.

“India is at an inflection point and as the second-largest community of startups in the world, our focus has always been to support the ecosystem and promote innovative solutions to today’s challenges,” said Deepak Bagla, CEO and MD, Invest India.

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The investment comes on the heels of the “Startup India-WhatsApp Grand Challenge” where WhatsApp awarded five Grand Challenge winners with a grant worth $50,000 each (nearly Rs 35 Lakh).

“The Startup India portal has played a pivotal role in enabling the ecosystem to drive inclusive growth and we’re constantly working to support the next generation of Indian innovators with partners like WhatsApp,” Bagla added.

In three years, over 19,000 startups have been registered with the Startup India programme across 513 districts. (IANS)

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The Challenges, Growth and Prospects of Olive Oil Industry in India

Discussing the growth, prospects of olive oil in India

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Olive oil
For the first time in the country, experts in India will hold a panel discussion about the olive oil industry. Pixabay

BY PUJA GUPTA

For the first time in the country, experts in India will hold a panel discussion on the challenges, growth and prospects of the olive oil industry on the 13th of December at PHD Chamber of Commerce & Industry.

Rahul Upadhyay, President and Akshay Modi, Vice-President at The Indian Olive Association (IOA) will be hosting the Annual Public at the Lakshmipat Singhania Auditorium. The session will discuss the transition of olive oil from being a foreign oil to a homegrown oil with which the citizens of India can now reckon with.

The panel moderated by senior food and travel writer Rupali Dean will spearhead the session on Olive Oil In India-2.0. The panel of speakers will include noted restaurateurs, chefs, nutritionists, food researchers and biologists, entrepreneurs, retailers, food, health and fitness experts.

Olive oil india
The Indian Olive Association focuses on the problems confronting the emerging sector of olive oil and table olives in India. Pixabay

Upadhyay said, “The Indian Olive Association focuses on the problems confronting the emerging sector of olive oil and table olives in India. With Annual Public Session, we attempt to bring together the doyens from the food and health industry to discuss the problems and offer solutions that will accelerate the growth of olive oil in India.”

Akshay Modi, Vice-President at The Indian Olive Association (IOA). “The Annual Public Session is a platform that brings together all the diverse stakeholders to speak a unified voice for the greater good of the category of olive oil in India.”

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The Indian Olive Association (IOA), the national apex association of olive oil producers, growers, distributors, importers, users and consumers in India works to promote consumption and expand the market for olive oil and table olives. The association focuses on the problems confronting this emerging sector in India. Macro-economic factors like GST, Import Duty and issues with respect to the import of both table olives and olive oil are taken up by IOA with multiple authorities to streamline the import process and ensure a steady growth for this category. (IANS)