With an aim to accelerate the growth of small and medium businesses in the country, Facebook on Tuesday partnered with VC fund Stellaris Venture Partners to scale young businesses by providing them with timely digital skilling.
The partnership is a part of Facebook's VC Brand Incubator Program, which is an industry-first initiative for building the ecosystem for SMB growth in the country along with leading venture capital funds.
"We know that timely skilling can unlock multiple growth opportunities for small businesses that are the backbone of India's economy. 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," Archana Vohra, Director, Small and Medium Businesses at Facebook India, said in a statement.
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"Facebook is committed to the economic recovery of India and as we mark the two years' milestone for the program, we are delighted to partner with Stellaris Venture Partners to help early stage SMBs to unleash their true potential to grow and scale their business," it added.
The partnership with Stellaris Venture Partners marks the completion of a two years milestone of the VC Brand Incubator Program.
In just 24 months since its inception, Facebook has tied up with nine VC funds and has successfully skilled, trained, and mentored more than 200 small businesses at various stages of their growth journey.
Before the partnership with Stellaris Venture Partners, Facebook has partnered with Sauce.vc, Fireside Ventures, Elevation Capital (SAIF Partners), Surge (Sequoia), DSG Consumer Partners, Matrix Partners, Anthill Ventures, and Kae Capital for the programme.
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Stellaris Venture Partners is an early-stage, technology-focused venture capital firm working with SMBs such as Boldcare, Beepkart, CredFlow, Propelld, Whatfix and many more.
Their investment focus areas include global software companies with an India advantage, as well as tech businesses solving India-specific problems.