Facebook has partnered with venture capital firm Stellaris Venture Partners to assist small businesses in expanding their business across India. By collaborating with Stellaris, Facebook intends to provide training in new customer acquisition, reach, and brand engagement to newly founded start-ups and small businesses. Stellaris Venture Partners has invested in several worldwide software companies as well as digital companies that are addressing India-specific issues in order to scale up their business.
“Prompt digital skilling may create a variety of growth prospects for small scale businesses, which are the basis of India’s economy,” stated Archana Vohra, Facebook India’s Director of Small and Medium Businesses. ” Facebook is committed to helping India’s economy to revive, and we’re happy to collaborate with Stellaris Venture Partners to help new and small businesses to grow,” added Vohra. Several businesses suffered economic losses as a result of Covid19 due to low sales volume, which harms the country’s economic growth.
However, both the government and businesses are working to fill the economic gap caused by the lockdown, but more efforts are needed to keep India’s economy on track. In such circumstances, Facebook’s effort is commendable, as it will aid businesses in filling this gap by teaching them digital skilling techniques. At present, Facebook’s VC brand incubator initiative is concentrating on scaling up health, wellness, e-commerce, fintech, education, and transportation-related businesses, as these areas are critical to the country’s economic growth.
Apart from all this, the partnership with Stellaris Venture Capital Partner also contributes to the generation of more job opportunities for the country’s newly graduated students, as more start-ups and small businesses grow up their businesses, the more people they will recruit. In the last 24 months, Facebook has teamed with nine venture capital firms and trained over 200 small businesses to help them scale up their businesses.