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Amazon India has announced the launch of the second season of the Global Selling Propel startup accelerator.
The startup accelerator has been designed to support early-stage start-ups in the consumer products space to launch in international markets and create global brands from India through Amazon’s Global Selling programme. The company will shortlist 15 start-ups in this edition of the accelerator, out of which three winners will get the equity free grand of $100,000 from Amazon as well as free AWS credits worth $10,000.
The application window for the startup accelerator will be open tillMarch 14 The programme will provide start-ups an opportunity to showcase their business propositions to partner VC firms – Accel, DSG Consumer Partners, Fireside Ventures, and Sequoia Capital India. Bollywood actor and angel investor Kunal Kapoor has also joined the programme as a mentor.
Amit Agarwal, SVP - India, and Emerging Markets, Amazon said, “The Global Selling Propel Accelerator is designed to provide emerging companies an opportunity to bring their business propositions to life and create globally popular brands from India. This is in line with the Honorable Prime Minister’s vision of creating a thriving start-up ecosystem and making startups the engines of India’s economic growth. We saw great interest, ideas, and entrepreneurial spirit in the inaugural season of the programme, and we are excited to now bring season 2. It is part of our commitment to make exports easier for businesses of all sizes and enable $10 billion in e-commerce exports from India by 2025.”
Mentorship board
As part of the Startup Accelerator, Amazon has constituted a mentorship board consisting of Amazon leaders from India and across the world, VC partners and other industry leaders who will engage with emerging brands and provide them tailored resources, 1:1 mentorship and workshops on the global demand patterns and insights on building successful exports business through ecommerce.
Early-stage startups in the consumer products space (raised funding in the post seed to pre-series A stage, if funded) with a vision to expand their business to global markets can apply to be a part of the accelerator programme. The entries will be evaluated by an Amazon-led panel on the basis of the business idea, scalability and strength of the business plan/model, business metrics in launched markets, founding team credentials amongst others. Applications will be shortlisted onMarch 22, 2022, and inducted into the startup accelerator.
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The transactions are not only in violation of competition law but is a breach of FDI norms, says CAITThe programme will feature an eight-week 1:1 mentorship module for the shortlisted participants where they will get to interact with Amazon leaders from India and worldwide, Startup India leaders, and VC partners and get firsthand knowledge on building and scaling up exports business through e-commerce. Amazon will provide the support for these startups to launch their products worldwide through its exports programme – Amazon Global Selling.
The first season of AGSP got over 500 entries from across 100-plus cities, post which, a cohort of 10 start-ups were shortlisted from the entries received. Ultimately, Slurrp Farm, Sirona Hygiene and Wellbeing Nutrition were named the top 3 winners of the first season winning a combined total of $50,000 from Amazon in an equity-free grant.
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