October 31, 2018
WhatsApp will invest US$250,000 as seed funding to the top five winners of the 'WhatsApp Startup Challenge'
WhatsApp will provide another US$250,000 to a select few entrepreneurs to promote their business number
Invest India and WhatsApp are driving awareness about its tools in 15 states impacting 60,000 businesses
The Confederation of Indian Industry (CII) and WhatsApp have partnered to train thousands of SMEs across India
Invest India, an investment facilitation agency of the Department of Industrial Policy and Promotion, said on October 31 that it would partner with WhatsApp, a Facebook-run global messaging platform, to promote grassroot innovation and entrepreneurship in India. Invest India through its flagship initiative Startup India Hub and WhatsApp will jointly focus on the proliferation of startups, promoting economic growth and generating employment opportunities in India. As part of the programme, WhatsApp will invest US$250,000 as seed funding to the top five winners of the ‘WhatsApp Startup Challenge’.
WhatsApp will provide another US$250,000 to a select few entrepreneurs to promote their WhatsApp business number on Facebook and drive discovery of their businesses. Invest India is also working with WhatsApp to drive awareness about its business tools in around 15 states impacting more than 60,000 businesses in the coming months through initiatives such as Startup India ‘Yatra’ programme and other in-person training events. Micro, small and Medium Enterprises, employing over 100 million people and contributing 33 per cent of India’s gross domestic product , are critical for India’s economic growth.
Launched in 2016, Startup India is aimed at building a strong ecosystem for nurturing innovation and startups in the country that will drive sustainable economic growth. The programme has registered over 13,000 startups across 448 districts covering all 29 States and 6 UTs. Invest India’s partnership with WhatsApp comes days after the Confederation of Indian Industry (CII) signed a deal with WhatsApp to train thousands of small-medium business owners (SMEs) and entrepreneurs across India. Under the programme, WhatsApp and CII will train Indian SMEs through CII’s SME Technology Facilitation Centre.