WhatsApp, a Facebook-owned messaging app, has brought in a challenge for startup companies in India. It is an app which is globally used by millions of users to communicate with each other. This challenge can encourage young India’s entrepreneurs and small business to work progressively for better future of India.
The new business app from WhatsApp is called the “Startup India-WhatsApp Grand Challenge” to encourage more startups to come up with more innovative ideas and business models that can provide a big economic and social impact. Announcing about the challenge for the startup companies in India WhatsApp said, “The top five start-ups will receive a total grant of $250,000.”
84 % of Indians in small and midsize business find Whatsapp being the convenient way to communicate while 80 % believe that this messaging app is helping to grow their business, almost after one year of launching the business app.
In the 1990s stepping forward to become an entrepreneur was a big “NO” due to a setback in investments or venture. Presently, engineers from IIMs and IITs migrated to foreign-based companies and returned back to establish their services for India.
Golden Era for entrepreneurs started from 2018 as total VC and PE invest jumped to $33.5 billion in 731 deals from $0.7 billion in 130 deals in 2000. First Unicorn start-up is InMobi among the startup companies in India who achieved $1 billion in valuation in the year 2011. According to Business Standard, this particular business app has been effectively working for the entrepreneurs for more than a year reaching to about 1.3 billion users through the world and 200 million users in India.
Hindu Business Line reports that 2018 was Golden Era for the entrepreneurs as different eight ventures are ready to work and working BillDesk, Udaan, Oyo Rooms, PolicyBazaar, Swiggy, Paytm Mall and Byju’s who stands high as an example for small-sized business in India.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]