Amazon launched Startup Accelerator will help emerging brands access global markets and provide 1:1 mentorship and share knowledge on working in global markets. The Participating startups stand to win rewards worth $50,000 and get a chance to pitch to partner VC firms
January, 19, 2021: Amazon today announced the launch of Amazon Global Selling Propel (AGSP), an initiative designed to provide dedicated support to emerging Indian brands and startups to reach customers around the world. Amazon has partnered with Startup India to launch an accelerator program to help early-stage startups in the consumer products space to launch in international markets and create global brands from India through Amazon’s Global Selling program.
As part of the Startup Accelerator, Amazon has constituted a mentorship board consisting of Amazon leaders from India and across the world, VCs and senior leaders from Startup India, Invest India who will engage with emerging brands and provide them tailored resources, 1:1 mentorship on the global demand patterns and insights on building successful exports business through ecommerce. Amazon will also host open virtual mentorship sessions focused on peer learning by inviting veteran entrepreneurs and members from its mentorship board for startups, to network and learn from their existing ecosystem.
The accelerator program will provide startups an opportunity to showcase their business proposition to partner VC firms – Sequoia Capital India and Fireside Ventures and a chance to win a total equity free grant of $50,000 from Amazon.
“The adoption of technology and digital transformation has paved the way for India to be at the forefront of innovation, giving rise to some of the best startups in the world. There are many promising, emerging brands that have the capability to become big and go global. This is a timely initiative by Amazon which can prove to be a big stepping stone for startups to build their business and get access to global markets.” said Mr. Deepak Bagla, MD & CEO, Invest India.
Amit Agarwal, Global Senior Vice President and Country Head Amazon India said, “Amazon Global Selling, our flagship program to grow Exports from India is witnessing tremendous momentum with increasing interest from exporters across India. Our partnership with Startup India to launch this accelerator program will provide emerging brands an opportunity to bring their business propositions to life and help create globally popular brands from India. With Amazon Global Selling we will continue to make Exports simple and accessible to businesses of all sizes and fulfill our commitment of enabling $10 billion in e-commerce exports from India by 2025.”
Source: Business World
