E-commerce major 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.
Amazon has launched Amazon Global Selling Propel (AGSP) to provide dedicated support to emerging Indian brands and startups to reach customers around the world.
As part of the startup accelerator, Amazon has constituted a mentorship board consisting of Amazon leaders from India and across the world, venture capital funds and senior leaders from Startup India and Invest India who will engage with emerging brands and provide them tailored resources, mentorship on the global demand patterns and insights on building successful exports business through e-commerce, said an Amazon statement.
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.
“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 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.”
He said that the 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.