Facebook today announced the next edition of the VC Brand Incubator Initiative with Surge, Sequoia Capital India’s rapid scale-up program. The VC Brand Incubator Initiative was launched in 2019 as an industry-first initiative by Facebook in a bid to accelerate the growth of early-stage SMBs in India by collaborating with Venture Capital funds.
The VC Brand Incubator Initiative is part of Facebook’s vision to build a more conducive environment for SMB growth in the country. Working with venture capital funds is an integral part of this vision as it allows Facebook to scale and support SMBs at an early-stage itself, fast-tracking their growth.
SMBs are the backbone of India’s economy. For India to reach its goal of becoming a $5 trillion economy by 2025, small businesses and entrepreneurs need opportunities to grow. There are two ways in which Facebook enables small businesses and entrepreneurs in India. The wide range of Ad solutions that it has makes Facebook the preferred destination for businesses of all sizes to reach their consumer. It also runs a host of programs to build the ecosystem for entrepreneurship, leading to the creation of economic opportunities.
Surge aims to supercharge the early-stage journey for startups, by enabling disproportionate access to capital, talent, network, and decades of company-building knowledge. Surge combines $1 million to $2 million of seed capital with company-building workshops, global immersion trips, and support from a community of exceptional founders