Facebook VC Brand join the venture SAIF Partners, an initiative to mentor small businesses in India

Facebook VC Brand join the venture SAIF Partners, an initiative to mentor small businesses in India

On Thursday, Facebook India announced its alliance with venture capital fund SAIF Partners, in a bid to build up its commitment to the growth of small and medium businesses (SMBs) and grow entrepreneurship in the country.

The collaboration is part of Facebook’s VC Brand Incubator Program, an initiative launched in June for the growth of SMB in the country by providing new businesses with timely guidance and skills. Within 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 VC funds, Facebook has skilled, trained, and mentored more than 70 brands at various stages of their growth journey.

Archana Vohra, Director, Small and Medium Businesses at Facebook India said: About the latest partnership with SAIF Partners “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.”

Image source: scrabbl.com

SAIF Partners is one of the leading venture capital funds in India. In the past, it has been an early-stage investor in brands such as MakeMyTrip, BookMyShow, Justdial.com, and Paytm.

Deepak Gaur, Managing Director of 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 programs 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.”

Being Facebook collaboration with SAIF Partners, twenty-four brands become a part of Facebook’s VC Brand Incubator Program. These brands are from diverse industries such as CPG, e-commerce, auto, health, and education among others, and include brands such as Spinny, Chaayos, Airblack, Peebuddy, Skoodoo, and TheMomsCo.

Raghav Verma, co-founder of Chaayos said: “Facebook and Instagram are essential platforms for us to communicate with our audience. The session with Facebook experts helped us understand the new rules for winning on these new-age mediums. We have already run pilot campaigns, and seen tangible results by leveraging the right audience, mood, and creative designs.”

Since the inception of the VC Brand Incubator Program in June brands from distinct industries have participated in it. Many of these brands have seen a considerable and measurable growth in brand awareness, sales, and profits as a result of the Program.

Aman Gupta, Co-Founder of BOAT stated, which sells trendy and affordable audio products and accessories. “Facebook’s support has helped us propel our business and attain 10X growth in scale. This has been achieved via their special events, managed support, and guidance around the best practices. The program helps a brand like us grow manifold by driving business outcomes. With 1.1M members in our boAthead family, our journey has just begun.”

SAIF Partners is one of the leading venture capital funds in India. In the past, it has been an early-stage investor in brands such as MakeMyTrip, BookMyShow, Justdial.com, and Paytm.

Article Source: livemint.com

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