Amazon India announced a partnership with Startup India on 19 January, to launch an accelerator programme for early-stage startups in the consumer products industry to support them in selling their products in the international markets. This is an initiative under Amazon’s Global Selling Propel (AGSP), aimed at helping startups become global brands.
Under the accelerator programme, startups will get an opportunity to pitch their business proposition to VC firms – Sequoia Capital India and Fireside Ventures. They will also get a chance to win a total equity-free grant of US$ 50,000 from Amazon.
Startup India was launched in January 2016 and is the country’s flagship initiative to promote entrepreneurship. Prime Minister of India Shri Narendra Modi recently announced a US$ 133M seed funding at the Startup India International Summit: Prarambh, to boost the startup ecosystem of the country.
“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 fulfil our commitment of enabling US$ 10 billion in e-commerce exports from India by 2025,” said Amit Agarwal, global senior vice president and country head, Amazon India.
The Amazon Accelerator’s mentorship board consists of Amazon leaders from India and across the world, VCs and senior leaders from Startup India and Invest India. They will provide valuable one-on-one mentorship to emerging brands, tailored resources, insights on global market trends and help them build successful exports business through e-commerce.
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