US-based social media group Facebook has partnered venture capital firm Sequoia Capital India’s accelerator scheme, Surge, to launch the fourth VC Brand Incubator initiative, the Economic Times has reported.
VC Brand Incubator was formed in mid-2019 to work with small and medium-sized enterprises (SMEs) that are portfolio companies of independent VC firms, having teamed up with Sauce.VC, Fireside Ventures and SAIF Partners for earlier cohorts.
Facebook had coached more than 70 India-based SMEs through the scheme, helping them to utilise its tools, including Instagram and WhatsApp, for business.
Rajan Anandan, a managing director at Sequoia Capital India, said: “With the VC Brand Incubator, our aim is to help our brands gain more insights into leveraging the Facebook family of apps for growth.”
Archana Vohra, director of small and medium businesses at Facebook India, added: “We know from our experience with 140 million small businesses across the globe that timely skilling and mentorship are critical for young brands to succeed.”
Facebook also runs two other India-focused entrepreneurial programs: Facebook Digital Training, which offers social media and content marketing courses, and business digitisation effort Facebook Startup Training Hub.
