Facebook announced a collaboration with venture capital SAIF Partners, aimed to enable the growth of small and medium businesses (SMBs) and entrepreneurship in the country.
The partnership is a part of Facebook’s VC Brand Incubator Program, which is an industry-first initiative launched in June for building the ecosystem for SMB growth. It provides young businesses with timely skilling and guidance. In just five months, the VC Brand Incubator Program has tied up with three venture capital funds - Sauce.VC, Fireside Ventures, and now SAIF Partners. In partnership with these three venture capital funds, Facebook has already skilled, trained, and mentored more than 70 brands at various stages of their growth journey.
“Our vast experience with SMBs tells us that strong digital skills and timely guidance can help them succeed and increase profits quickly. Facebook has consistently delivered business results for SMBs, and through the VC Brand Incubator Program and the latest partnership with SAIF Partners we’ve deepened our commitment to the growth of small businesses and entrepreneurship in India. Businesses from across industries and at different stages of their growth journey have experienced measurable and positive business impact as a result of this program, and with SAIF Partners on board we now have an opportunity to deliver an even larger impact.”
— Archana Vohra, Director of Small and Medium Businesses at Facebook India
SAIF has been an early-stage investor in top brands such as MakeMyTrip, BookMyShow, Justdial.com, and Paytm. Deepak Gaur, Managing Director, SAIF Partners said through this partnership it aims to create a platform for young consumer companies to learn from the Facebook leadership as well as each other about the best practices and the playbook for scaling on Facebook’s family of apps.
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