WhatsApp on Wednesday said that it has partnered with Invest India to promote startups of India. It has tied up for a program that will focus on the expansion of startups and promote their economic growth and help in the generation of employment opportunities in India.
WhatsApp said that it would invest $2,50,000 (approx. Rs. 1,84,50,000) in the five winning startups of the ‘WhatsApp StartUp Challenge’. The messaging App further added that an additional amount of $2,50,000 will also be directed to select a few enterprises from the entrepreneurial community to help them promote their WhatsApp Business on Facebook.
Suresh Prabhu, Union Minister of Commerce and Civil Aviation, said that the startup community in India is the future of the country. It will be the platform through which millions of youth of the country will be employed.
National Promotion and Facilitation Agency of India, Invest India acts as the first point of reference for investors in India.
This move will surely help in fueling the growth of the startups in India, said WhatsApp in a statement.