Ajit Mohan, vice-president and managing director of Facebook India mentioned in a startup meet ‘Huddle Kerala 2019’, that Facebook is interested in funding Indian tech-based startups and will work on the plan accordingly. India is a potential market for the tech giant and with the startup wave that’s going around for some time in the country, both Facebook and India entrepreneurs can take leverage from that.
While addressing the opening session Mohan said, “We are willing to spend our time and energy to tap the massive depth of engineering talent in the country,”.
“A couple of months ago, we announced the first minority investment that Facebook has done anywhere in the world in a company called Meesho. What Meesho does is it relies on the existing behavior of communities in India and leverages on women entrepreneurs essentially pitching products to their friends and families,”
“It is an innovation that was coming out of India which can be exported to the rest of the world, and that model has scaled a dramatic impact on job creation. Any analysis of the economy, most of the job creation happens from small business,”
“Around 1.95 start-ups are getting registered every hour in the country. In the next month, it may be two start-ups per hour. We have 22,895 registered start-ups in the country as per the records till September. Around 45 percent of start-ups have come from tier-2 and tier-3 cities. About 9 to 10 percent of start-ups have women as founders, and we have to promote women entrepreneurs,”
It’s clear that Facebook has bigger plans for India in the nearby future, which is a good thing for entrepreneurs who have potential but lack funding due to whatever reasons.
Facebook hosted its F8 annual conference in April this year and announced some big changes that might come our way. There is a new design for the Mobile and Desktop app, which is much more cleaner and easy to use with less of the facebook famed blue theme. There is a lot of focus been given in connecting with communities, which will be the primary focus of change in the 5th Version of Facebook namely FB5.
Facebook’s current image might not be that good on the global front but they are surely trying to improve and recover from the tragedies that happened at the start of this year. The Upcoming version of Facebook also promised a better security and privacy update, which was a major setback in the current version and was the cause of all the tragedies that happened.