WhatsApp, a Facebook owned peer to peer messaging platform is planning to organise the startup chalenge on India for promoting the startups of the country.
The reports say that, WhatsApp is planning to partner with Invest India for carrying out the events with an aim of investing in the top five participants of the competition.
“WhatsApp will invest quarter of a million dollars as seed funding to the top 5 winners of the WhatsApp Startup Challenge,” an official statement said.
In addition to that, company would also be investing an additional $2,50,000 for the selected firms from the entrepreneurial community for promoting their WhatsApp business number on Facebook.
“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”, said Union Minister of Commerce and Civil Aviation, Suresh Prabhu, at the announcement of the event.
“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 startups in India and to create solutions not only for India but the entire world”, said Deepak Bagla, CEO, Invest India – the national investment promotion and facilitation agency.
The competition would surely attract huge number of startups across the country and it is also an opportunity for the young blood of entreprenuers to work in close relation with the huge clients like WhatsApp and Facebook.
Vice President of WhatsApp, Chris Daniels said, “We are excited to work closely with Startup India by supporting entrepreneurs and startups to become engines of economic growth”.