Whatsapp which is the most known social app in the world. The social app is planning to encourage startups in India by funding. The Whatsapp which is owned by Facebook collaborated with invest India. They both together are going to conduct the Startup India WhatsApp Grand Challenge.
The top five contestants will get INR 1.8 Cr ($250,000) as the seed funding for them. The WhatsApp will be going to invest another INR 1.8 Cr ($250,000) in other startups to promote their business. The main focus is to encourage the entrepreneurs by which the employability will increase.
Invest India is the one-stop to invest in India. It is a non-profit venture under the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India. In the country, every state has its own startup policies and all working together to bring the change in the startup sector. The Invest India will mainly focus on business planning & advisory, making strategies and implementation and the last one is the long-term partnership.
WhatsApp and invest India both are working to create awareness over 60,000 business around all over the states through various methods like startup India yatra and other events. Recent partnerships are making India startups to grow. In 2018 according to the Nasscom report, more than 1200 startups are added to the country’s startup list. In this year 8 startups from India entered into unicorn list. Currently, India is becoming the hub to the startups.