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The Indian Wire » Startups » Facebook joins hands with SAIF Partners to boost growth of SMBs, entrepreneurship in India
Facebook joins hands with SAIF Partners to boost growth of SMBs, entrepreneurship in India
Suviral Shukla
In order to boost the growth of small and medium business (SMBs) and entrepreneurship in India, Facebook has partnered with SAIF Partners, reported Yourstory.
The collaboration has been inked under Facebook's 'VC Brand Incubator Program'.
Archana Vohra, Director, Small and Medium Businesses at Facebook India said, "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 programme, and with SAIF Partners on board we now have an opportunity to deliver an even larger impact."
The partnership will strengthening Facebook's commitment to support the growth of SMBs and entrepreneurship in the country.
While, Facebook's VC Brand Incubator Program is an industry-first initiative launched in June to build the ecosystem for SMB growth in the country by providing young businesses with timely skilling and guidance.
Deepak Gaur, Managing Director, SAIF Partners said, "We are thrilled to partner with Facebook 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. We believe that programmes like the VC Brand Incubator will go a long way in helping early-stage consumer-focused companies avoid common mistakes, enabling them to create differentiated brand awareness on digital platforms in the most efficient manner."
Furthermore, beside SAIF Partners, the program has also tied up with Sauce.VC, Fireside Ventures.
As part of the partnership, Facebook has already skilled, trained, and mentored more than 70 brands at various stages of their growth journey.
SAIF Partners has been an active investor into the Indian startup ecosystem, and has infused capital in several startup including MakeMyTrip, BookMyShow, Justdial.com, Paytm, and many more.
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