Facebook-owned Whatsapp is a popular brand worldwide. And, it has come to India with a brilliant program. India is a country rich with the finest minds, and to fuel its business growth Whatsapp has partnered with Invest India. Both have started an initiative called ‘Startup India-WhatsApp Grand Challenge’. The most exciting part of this entrepreneurial program is the prize money that accounts to be 1.8 crores ( $ 250,000) to the 5 top champions.
This is an effort by Whatsapp to encourage all the small businesses in the country. According to the highest Whatsapp officials, it is only ideas that help to develop the right business plan so that it can impact the socio-economic structure of the society. It is essential to discover ways to dissolve the daily problems and the ones who can do this are eligible to apply for this challenge by the 10th of March.
Overview WhatsApp Startup Challenge, Eligibility & Participation
Going forward, WhatsApp laid out the eligibility criteria to participate in the challenge. Several entrepreneurs with strong, firm, innovative ideas along with appropriate business models that can solve the grave issues of the nation are welcomed to participate. All the candidates must have six to eight slides resting on their pitch deck for the show.
There are a lot of speculations going on regarding the genre of startup ideas. The list includes Artificial Intelligence, Augmented Reality, Virtual Reality, Food and beverages, analytics, waste management, fashion, marketing, transportation, and many others. Moreover, WhatsApp has sorted themes for startups like citizen safety, health care, rural economy, finance, health care, digital inclusion, education, etc.
The startup challenge will have certain rounds. Each round will shortlist around thirty innovative ideas. Further, these 30 ideas will have another competition among themselves and the judges will cut the list to 10 ideas.
The ultimate battle between these 10 contestants will be exhibited so that they will reach the finals. Among them, the first five top winners will receive $50,000 each.
The business of WhatsApp has grossed over 5 million since its inception. Moreover, the platform has rolled out 3 brand-new features for the web version. It includes quick replies, filtering of chat list, and labels. According to the Startup India, the market is pacing fast to hit the 5 trillion mark by the year 2025. The WhatsApp market is not just a simple market, today almost 8 out of 10 people use the app for communication.
The registration for the WhatsApp Grand Challenge ends by March 10. Facebook-owned messaging app has long waited to conduct something like this in India. This initiative by WhatsApp is aimed at building beneficial startups and funding them in India.
The truth behind the Indian market is there is a great potential. This is the chance that must not be missed by the Indian entrepreneurs. If you have a brilliant idea which can change the world, you are highly welcome to this program.
Much of the other information related to the challenge will be given by the officials later in the upcoming months. Invest India has extended the hands for one of the finest industry collaborations for the nation. The news was announced last year in the year October 31.
The selected ideas and their respective startup will have the opportunity to present at the capital cities of the state and the companies will take care of the in house training. The entire event is helmed by Abhishek from Invest India. As per the officials, this partnership will sustain for a long time. They both are on a plea to transform India and the initiative will be a direction to the better future.
There were a lot of achievements in the preceding year and the WhatsApp company has launched several products. To name a few are WhatsApp Business (API), WhatsApp Business Application, etc. With the expansion of the business entering in India with such a broad spectrum initiative comes as a breath of fresh air for the budding businesses. An opportunity that might change the future of the small business sector.