Facebook has launched the next edition of its VC Brand Incubator Initiative with Surge, a part of Sequoia Capital India’s rapid scale-up program.
The VC Brand Incubator Initiative, which was launched in 2019, aims to accelerate the growth of early-stage small and businesses (SMBs) in India by collaborating with venture capital funds.
SMBs in the VC Brand Incubator Initiative can work with venture capital funds to allow Facebook to scale and support SMBs at an early-stage itself, fast-tracking their growth.
For its part, Surge said it aims to supercharge the early-stage journey for startups, by enabling disproportionate access to capital, talent, network, and decades of company-building knowledge.
It does this by combining $1 to $2 million of seed capital with company-building workshops, global immersion trips, and support from a community of founders.
“We know from our experience with 140 million small businesses across the globe that timely skilling and mentorship are critical for young brands to succeed,” said Archana Vohra, the director of SMBs at Facebook India.
“The knowledge sessions with Surge give us the unique opportunity to work with early-stage SMBs and entrepreneurs to unlock their true potential on digital while also enabling them to drive growth by being conscious of their business ROI.”
Facebook previously unveiled two programmes designed for entrepreneurs and SMBs to digitise their business.