Amazon India launches accelerator programme to help start-ups go global
Amazon India has launched an accelerator programme to help early-stage start-ups in the consumer products segment explore the global markets.
Amazon Global Selling Propel (AGSP) programme has partnered with the government’s ‘Invest India’ initiative to help around 10 Indian start-ups in the first batch over six months.
The company will provide a grant of $50,000 (Rs 37 lacs) to the top three winners of the programme. It has also tied up with venture capital firms Sequoia Capital India and Fireside Ventures, which will invest in some of these businesses.
Commenting on the initiative, Amit Agarwal, global senior vice president and country head Amazon India, in a statement said: “Our partnership with Start-up India to launch this accelerator programme will provide emerging brands an opportunity to bring their business propositions to life and help create globally popular brands from India.”
Deepak Bagla, managing director and chief executive at Invest India, added: “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 start-ups to build their business and get access to global markets.”
Amazon India claims to have helped over 70,000 Indian sellers and small businesses from its global selling initiative to generate sales of around $2 billion to date and expects goods worth $10 billion to be exported from India by 2025.
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