Amazon India has announced a partnership with Startup India. The partnership aims to help global e-commerce giants reach out to a wider retail market outside India by providing mentorship, resources and a US $ 50,000 grant to Indian startups. Under the umbrella of Amazon Global Selling Propel (AGSP), this partnership aims to expand the market for consumer goods startups and provide consumers in other countries with the opportunity to reach out. The AGSP program is specifically designed for early stage startups and aims to transform domestic companies into global brands.
The AGSP Program’s Mentorship Committee includes leading Amazon executives in the Indian and international markets, senior leaders in Startup India and Invest India, and venture capital partners. All of these provide one-on-one guidance and mentorship for early-stage consumer goods startups. Of india. Amazon has not specified whether the program will be primarily limited to tech startups or will extend to other categories. Amazon’s two venture capital partners, Sequoia Capital India and Fireside Ventures, also have the opportunity to entertain funding from potential start-ups and win a total grant of US $ 50,000. This grant will be equity-free. That is, the funding agency does not hold a portion of the startup’s stock, as is the standard for funding rounds.
Regarding the goal of this program to help Amazon achieve it, Amit Agarwal, Amazon India’s Global SVP and Country Head, said: “The partnership with Startup India to launch this accelerator program provides emerging brands with the opportunity to bring their business proposals to fruition. Helps create globally popular brands from India. By Amazon Global Selling. , We will continue to simplify exports, make them available to businesses of all sizes, and fulfill our commitment to enable $ 10 billion in e-commerce exports from India by 2025. “
The startup candidate entry is currently open and will continue until Sunday, February 7th. To qualify, the startup must be between the post-seed and pre-Series A funding rounds, and a panel selected by Amazon will evaluate each entry based on business Ideas, Scalability, Home (or) Launch) Number achieved so far in the market, feasibility of startup business plans, qualifications of startup founders, etc. A total of 10 startups will be selected for the program, and three award-winning startups will bring back a $ 50,000 grant.
Amazon, Startup India Partners Support Global Sales of Shinsei Indian Ventures
Source link Amazon, Startup India Partners Support Global Sales of Shinsei Indian Ventures