Amazon India on Tuesday announced a partnership with Startup India to launch an accelerator programme for early-stage startups in the consumer products, helping them sell their products in the international markets.
The initiative comes under Amazon’s Global Selling Propel (AGSP) and is aimed at helping startups create global brands, according to a statement.
The accelerator programme 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.
“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,” Amit Agarwal, global senior vice president and country head, Amazon India said in a statement.
As a part of the 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, one-on-one mentorship on the global demand patterns, and insights on building successful exports business through e-commerce.
“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,” Agarwal added.
Launched in January 2016, Startup India is the country’s flagship initiative to promote entrepreneurship. Separately, Prime Minister Narendra Modi recently announced a $1000 crore seed fund to boost the sector.