Facebook expand its current programs for startups in India

Facebook is also collaborating with co-working spaces in Delhi, Mumbai, and Bangalore, to set up Innovation hubs that support startups in augmented reality (AR) and virtual reality (VR).

“We believe when startups flourish, India will prosper. At Facebook we are committed to paving the way for the success of the new generation of startups in India and understand that access to resources, people and networks can be a powerful catalyst for their growth. That’s why we are creating programs that can fuel startups to build businesses of tomorrow through mentoring, regular training, workshops and meetups,” said Satyajeet Singh, Head of Platform Partnerships, Facebook India.

The company is launching three innovation hubs for AR and VR techonologies. It is also focusing providing a platform to developers through its initiative named Developer Circles. There are around 50,000 members in 15 cities. It is planning to expand to 100,000 developers in 20 cities by June 2019.

Addressing Facebook’s initiative in the startup ecosystem in India, Amitabh Kant, CEO, Niti Aayog said that India has a vibrant startup ecosystem and the government’s objective is to enhance and expand the ecosystem.

While talking about regulations in the ecosystem, he said, “Regulation will always be far behind innovation. It is very important for policymakers to really draft regulatory regimes which keep abreast of all the innovations that happen in the society.”