Facebook India has announced that it will support the growth of the small and medium businesses (SMBs) in India by collaborating with venture capital funds and support startups/SMBs they invest in. Facebook will work with these VC funds with the aim of skilling and mentoring the brands by sharing insights proven solutions, playbooks, among other key learnings.
The VC Brand Incubator Programme will be the first in a series of programmes by Facebook that will be geared towards laying a strong foundation for SMB growth in India by providing them with timely skill and guidance, enabling these businesses to hasten socio-economic growth of the country as well.
For the first edition, Facebook is working 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.
The VC Brand Incubator program is a series of events that will be held across Mumbai, Bangalore and other key cities, where SMBs will be provided with skilling and training sessions by Facebook experts on a range of themes and topics that will help them build their brands on the digital medium more effectively.
Archana Vohra, director, small and medium businesses at Facebook India, said “With the VC Brand Incubator program we hope to unlock the potential of SMBs in India, enabling them to enhance their and the country’s socio-economic growth.”
“SMBs are the backbone of our economy and Facebook is the default destination for them to thrive and grow. Several SMBs are actively working towards creating a larger social change, and many are empowering women entrepreneurs and generating impact in tier-2 and tier-3 towns. Their seamless growth can lead to consistent job creation, adding to the GDP growth. Working with VC funds is crucial as it allows us to scale and support SMBs at an early-stage itself, fast-tracking their growth,” said Vohra.
Manu Chandra, Founder, Sauce.vc said, “The VC Brand Incubator programme provides a much needed understanding of Facebook, its family of Apps, and the digital landscape. The entire consumer startup ecosystem benefits from these initiatives, both from a skill-development and a community-building perspective.”