Facebook announced that it has tied-up with early stage VC fund Matrix Partners to scale small businesses in India by providing them with digital skilling support.
The tie-up with Matrix Partners is a part of Facebook’s VC Brand Incubator Program that collaborates with venture capital funds to help early-stage small and medium businesses (SMBs) to maximize their digital potential. In light of the pandemic, Facebook has taken the program online to ensure continued skilling and support for small businesses even in these times.
With the tie-up with Matrix Partners India, the program also completes one year during which it has collaborated with six VC Funds – Sauce.VC, Fireside Ventures, SAIF Partners, Sequoia Capital, DSG Ventures, and Matrix Partners India – and skilled, trained, mentored more than 150 brands at various stages of their growth journey.
Archana Vohra, Director, Small and Medium Businesses at Facebook India said, “Facebook is committed to supporting the growth of small businesses in India, and this charter is stronger than ever as we work towards enabling their recovery from the pandemic. In light of the current constraints, we’ve taken the initiative online along with a host of our other skilling initiatives such as Boost with Facebook and Advertiser Vintage program to ensure skilling and support for small businesses.”
“Brand building is a crucial part of growing and scaling your company, and Facebook’s incubator program is a stepping stone for early stage consumer-focused companies who are looking to build awareness and engagement with a digital audience. We’ve been early backers in many challenger brands including, ecommerce, gaming, CPG, neo-banking, healthcare, content. Over 20 companies from our portfolio, including Country Delight, Stanza Living, OZiva, ManMatters, Zupee, The Whole Truth, Dealshare, have now partnered with Facebook on this program,” said Sanjot Malhi, Director, Matrix India, in a statement.
As part of the VC Brand Incubator Program, Facebook has also started Campaign Lab that helps direct-to-consumer small businesses get creative solutioning support, and go live with mobile friendly creatives and strategy in under 72 hours.
“Facebook’s incubator program helped the Gynoveda team discover new social marketing features to run paid campaigns. Even though we’ve been using Ads Manager for a while, there was so much more discovered when brainstorming with the creative team on how to adapt creatives and communication to ads placements. This has had a direct impact on RoI,” said Vishal Gupta, Founder of Gynoveda that used Campaign Lab to scale their creatives.
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