Facebook plans to tap start-ups, small and medium businesses in India

Facebook is nurturing a lot of start-ups and small and medium businesses to tap their innovations and be part of their fast growth by providing mentoring and technology to help them scale. These include businesses such as consumer electronics startups, cafe chains, used-car retailers, travel commerce firms and female wellness brands.

The social media giant on Thursday announced a collaboration with venture capital SAIF Partners, aimed to enable the growth of small and medium businesses (SMBs) and entrepreneurship in the country.

The partnership is a part of Facebook’s VC Brand Incubator Program, which is an industry-first initiative launched in June for building the ecosystem for SMB growth. It provides young businesses with timely skilling and guidance. In just five months, the VC Brand Incubator Program has tied up with three venture capital funds – Sauce.VC, Fireside Ventures, and now SAIF Partners.