Bhubaneswar: Facebook-owned messaging app WhatsApp on Thursday announced the ‘Startup India-WhatsApp Grand Challenge’ to encourage entrepreneurs and small businesses in India.
WhatsApp, in a statement, said that the top five startups will receive a total grant of USD 250,000 (roughly Rs 1.8 crores).
“Ideas and business models capable of making a large-scale socio-economic impact and solve day-to-day problems have been invited to apply for the challenge by March 10,” said the company.
The messaging app giant has over 200 million users in India and 1.3 billion users worldwide. Since a year, WhatsApp has been working closely on its business platform.
WhatsApp, which had launched its business application nearly a year ago, is now being used more than 5 million businesses monthly.
Around 84 % of small and midsize businesses (SMBs) in India think that WhatsApp helps them to communicate with customers. Besides, 80 % of SMBs think that WhatsApp helps them grow their business.