WhatsApp to invest $250k in five Indian startups | TechGraph

WhatsApp to invest $250k in five Indian startups

Facebook owned instant messaging company, WhatsApp on Wednesday, announced “that it has partnered with Invest India to organize a startup challenge in the country with the aim to invest in the top five participants of the competition. ”

In the statement, the official said: “The company will invest $250,000 as a seed fund in the five winners of the ‘WhatsApp StartUp Challenge.”

“Adding to this WhatsApp will also make an additional investment of $2,50,000 to few selected firms from the entrepreneurial community to promote their WhatsApp business number on Facebook,” the statement added.

Speaking at the event Union Minister of Commerce and Civil Aviation, Suresh Prabhu said that “the startup community is the future of India and it will be the platform through which, millions of youth of this country will be gainfully employed”.

Talking on the partnership, Deepak Bagla, CEO of Invest India said: “India adds over three new startups a day ranking it amongst the top startup nations in the world. Through this partnership with WhatsApp, we aim to support the innovative start-ups in India and to create solutions not only for India but the entire world.”

Adding to this Chris Daniels, Vice President of WhatsApp said: “We are excited to work closely with Startup India by supporting entrepreneurs and start-ups to become engines of economic growth.”

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