Social media giant Facebook said it has partnered with the VC fund Stellaris Venture Partners to provide digital skilling support to small and medium businesses (SMBs) as part of its ongoing VC Brand Incubator Program which recently completed 2 years.
Under this program, the company provides young organisations with business skilling and customised training to improve key profitability levers such as new customer acquisition, reach, and brand engagement.
Facebook said that since the inception of the program, it has tied up with nine VC funds and has skilled, trained, and mentored more than 200 small businesses at various stages of their growth journey.
Prior to 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 program.
“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. 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,” said Archana Vohra, Director, Small and Medium Businesses at Facebook India.
Stellaris Venture Partners is an early stage, technology-focused venture capital firm working with SMBs such as Boldcare, Beepkart, CredFlow, Propelld and Whatfix. Their investment focus areas include global software companies with an India advantage, as well as tech businesses solving India-specific problems.
“Startups and small businesses are going to be the key drivers of growth and employment in the future and programs like the VC Brand Incubator will go a long way to boost the start-ups and small businesses ecosystem in the country. The VC Brand Incubator helps entrepreneurs to understand the Facebook ecosystem better and avoid common mistakes,” stated Said Rahul Chowdari, Partner/Co-Founder, Stellaris Venture Partners.