E-commerce Major Amazon has partnered with Startup India to launch an accelerator programme, which allows early-stage customers to launch their business in global markets and grow Indian brands through its Global Sale Program (GSP).
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 programme provides entrepreneurs an opportunity to show their business plan to the partner VC companies - Sequoia Capital India and Fireside Ventures - and an opportunity for Amazon's total $50,000 shareholder-free grant.
"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 programme 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 programme will provide emerging brands an opportunity to bring their business propositions to life and help create globally popular brands from India.