Facebook partners with VC Funds for faster SMB growth

04 Jul,2019

By A Correspondent

 

Facebook India announced an initiative which will see it collaborating with Venture Capital (VC) Funds to accelerate the growth of the small and medium businesses (SMB) they invest in. The VC Brand Incubator Programme will be the first in a series of programs by Facebook that will be geared towards laying a strong foundation for SMB growth in India by providing them with timely skilling and guidance, enabling these businesses to hasten socio-economic growth of the country as well.

 

Speaking about the initiative, Archana Vohra, Director, Small and Medium Businesses at Facebook India, said: “With the VC Brand Incubator programme 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.”

 

 

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