Facebook will also invest in tech startups in India

Facebook will also invest in tech startups in India

1 mins read
10::5

In a move that would provide a tremendous boost to the startup ecosystem in India, social media giant Facebook is gearing up to make investments in technologies startups, a high official from the company disclosed on Friday

VP and MD, Facebook India, Ajit Mohan, said,” we are now willing to make direct investment in tech start-ups in India. We are ready to spend time, money and energy to tap the substantial level of engineering skill in the country.”

“A few months ago, we announced the first minority investment that Facebook has done anywhere in the community in a business known as Meesho. What Meesho does can it depend on the current behavior of communities within India and leverages on females entrepreneurs essentially pitching items to their families.” and friends

The best thing about their model was it might provide 2,00,000 first time female entrepreneurs on the internet, he noted. “It is an innovation which was coming out of India that may be exported to the rest of the world, and this model has scaled a remarkable impact in job creation. Any evaluation of economy, nearly all almost all the job creation occurs from little business,” he said.

Citing the government information, the Facebook official stated women’s representation in the technology industry stands between 30 and 35%. “A great deal of our power must go breaking gender imbalance. We’ve to consider what are actual barriers that limit women from approaching online,” Mr. Ajit noted, incorporating that the company’s concentration is actually on skill-building and arrival of platforms to startups.

The chief guest Mr. Anil Agarwal (DPIIT) said,” the Kerala model in building the start-up ecosystem should be implemented across a states”.

Referring to the ubiquitous startup milieu within the country, he said around 1.95 startups are getting registered each hour inside the country. “In the following month, it could be 2 startups per hour. We’ve 22,895 registered startups within the country as per the data till September. Around 45% of startups are available from tier-3 and tier-2 cities. About 9-10% startups have women as founders, and we’ve to promote women entrepreneurs,” he added.

In his presidential address, Mr. M Sivasankar IAS, Secretary, IT and Electronics, Government of Kerala, stated the penetration of startups in the last 3 years is amazing. “The public change startups have brought is commendable. We’ve to provide focus on access, content, and skill to experience the unique condition of Kerala found startup ecosystem,” he included.

“The ecosystem created for start-ups in Kerala is unique and no other state in the country has achieved that kind of ecosystem. Blockchain is the most emerging technology in Kerala,” said Mr. Jitendra S. Minhas, CEO, IAMAI startup foundation

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