Technology for MSMEs: Facebook today has announced its partnership with the venture capital fund Stellaris Venture Partners to scale compact firms by giving them with digital abilities.
The partnership is a element of the social media platform’s VC Brand Incubator Program to make the ecosystem for SMB development in the nation.
During the pandemic, the VC Brand Incubator plan has evolved into a two-day virtual occasion from a one-day physical workshop.
As a element of the programme, Facebook has been associating with various venture capital funds to provide young firms with digital abilities and to increase important profitability levers such as new client acquisition, attain, and brand engagement.
The programme was launched two years back and considering that then has mentored more than 200 compact firms at numerous stages of their development. In its prior avatar, the programme has tied up with nine VC funds such as Stellaris Venture Partners, Fireside Ventures, Elevation Capital (of SAIF Partners), Surge (from Sequoia), DSG Consumer Partners, Matrix Partners, amongst other individuals.
“As business after business moves online in current times, the need for timely digital up-skilling becomes even more urgent to drive their recovery and growth,” mentioned Archana Vohra, Director, Small and Medium Businesses at Facebook India.
The most up-to-date edition of the VC brand Incubator plan is focussed on well being and wellness, e-commerce and customer packaged goods.