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WhatsApp to invest $250,000 into Indian Startups

WhatsApp

The instant messaging application WhatsApp has announced that along with Startup India, a flagship initiative of the Indian government will invest USD 500 each of Facebook ad credits into 500 Department for Promotion of Industry and Internal Trade (DPIIT) approved startups.

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With this investment of USD 250,000 in the Indian startup ecosystem, WhatsApp aims to help the Indian entrepreneurial community connect with their customers and grow their businesses.

With this ad credits, the start-ups can make ads and invite customers to click to open a chatbox on the WhatsApp in order to increase their sales.

“The startups and small businesses are the lifeblood of Indian communities and are a powerful driver of local economies. 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,” Abhijit Bose, Head of WhatsApp India, said.

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The announcement comes after the Startup India-WhatsApp Grand Challenge, which allowed entrepreneurs to create India-specific solutions keeping in consideration the socio-economic impact.

WhatsApp awarded USD 50,000 each to the five Grands Challenge winners.

Also Read: Oyo to raise $1.5 Bn in fresh funding round led by SoftBank

“Out of five million businesses around the world, a million in India are actively using the WhatsApp Business app to connect with their customers”, the company said.

Also Read: Paytm raises $1 Bn in financing round from SoftBank, Ant, others

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