Amazon Joins Startup India Programme,  Venture Capitalist Funds To Boost Export Of Made-In-India ProductsSource: YouTube

Amazon India is collaborating with major venture capital funds Sequoia Capital and Fireside Ventures to join the government’s Startup India initiative and create an accelerator program like Y-Coimbatore, reports Times of India.

The programme is named Amazon Global Selling Propel and it aims to build and boost the exports of indigenously made consumer goods on the global scale.

Startup India CEO Deepak Bagla, Sequoia Capital MD Rajan Anandan and Fireside founder partner Kanwaljit Singh along with other senior executives of Amazon will be the part of the expert panel of the programme.

The panel will mentor 10 selected startups from all the applicants for six months and a ‘Demo Day’ will be held thereafter.

Amazon India’s director of global trade Abhijit Kamra said, “On Demo Day, which happens six months later, the top three startups will get an equity-free grant of $50,000 from Amazon and then they can also pitch to Sequoia and Fireside to raise capital.”

This accelerator program is in line with Amazon CEO Jeff Bezos’ vision to export $10 billion worth made-in-India products over the next five years.

Amazon India’s sellers had sold goods worldwide amounting to around $2 billion until July 2020 through various Amazon platforms.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber
Advertisement