World’s largest social networking platform Facebook will invest in Indian startups this year. The company will collaborate with Startup India initiative to enhance the startup ecosystem in the country, by backing emerging and innovative Indian startups.
“India is producing a new generation of startups that have incredible potential. Facebook is committed to helping create economic growth opportunities for startups and skill seekers in India and will continue investing in India’s digital skills of the future,” said Ankhi Das, director of public policy for Facebook in India.
Facebook’s initiative will provide an opportunity for small and emerging Indian startups to raise funds to carry their ideas forward.
Moreover, it will also focus on boosting women entrepreneurs’ community across India through its programmes such as SheLeadsTech and SheMeansBusiness. Facebook has already invested in some potential Indian startups led by women in order to promote women entrepreneurship in India.
Initially Facebook will emphasis small businesses in India that are mainly run by women, said Das.
According to experts, the social networking giant’s entry to Indian startup is likely to reflect positively on Indian startup ecosystem.
Last year, Facebook had announced an accelerator programme for Indian startups to provide them with hands on experience on VR-based products and how it can used to enhance customer experience.