WhatsApp to invest in India startup ecosystems |
Popular social media platform WhatsApp has announced that it is planning to invest $250,000 worth ad credits into the Indian startup ecosystem to help entrepreneurs better connect with customers and grow businesses. The investment will provide 500 startups approved by India`s Department of Industrial Policy and Promotion with $500 each of Facebook ad credits. With the credits, startups can create ads that invite customers to click to open a chat on WhatsApp so they can deepen connections and increase sales. WhatsApp India head, Abhijit Bose said, "India`s entrepreneurs are at the forefront of bringing impactful social and economic change, and we at WhatsApp are committed to providing them support in achieving success.” In order to be eligible, startups must be at an early traction or scalable stage and must be recognized by DPIIT. Selection will be on first-come-first-serve basis and once registered, the first 500 entries will receive free Facebook ad credits worth $500. The investment is part of a tie-up with Startup India, a flagship initiative of the government that was launched in 2016 to build a strong ecosystem for nurturing innovation in the country. In three years, over 19,000 startups have been registered with the Startup India programme across 513 districts.
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