Amazon Launches Season 2 of Propel Startup Accelerator, An Initiative To Develop Indian brands And Businesses To Reach Global Buyers
On Wednesday, Amazon India announced the launch of the second season of the Global Selling Propel startup accelerator, an initiative intended to help to develop Indian brands and businesses reach global buyers. Through Amazon’s Global Selling program, the startup accelerator will assist early-stage consumer goods firms in launching in international markets and creating global brands from India. The participating startups will be eligible to earn a $100,000 equity-free grant from Amazon, as well as $10,000 in free AWS credits. Startups will have the opportunity to present their business models to Accel, DSG Consumer Partners, Fireside Ventures, and Sequoia Capital India as part of the program. Kunal Kapoor is a well-known Bollywood actor and angel investor and mentor.
“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 Hon’ble Prime Minister’s vision of creating a thriving startup 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 program, and we are excited to now bring the 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,”Amit Agarwal, SVP India, and Emerging Markets, Amazon said.
Amazon has formed a mentorship board comprised of Amazon leaders from India and around the world, VC partners, and other industry leaders who will engage with emerging brands and provide them with tailored resources, 1:1 mentorship, and workshops on global demand patterns and insights on building successful exports businesses through eCommerce as part of the Startup Accelerator.
“With a mission to expand to global markets, we launched Slurrp Farm on Amazon a few years ago. Our focus was to cater to mothers across the world and help them feed their children nutritious food which are easy and quick to make. The Amazon Global Selling Propel Startup Accelerator last year played a pivotal role in our success, helping us create sustainable business models which helped increase brand’s value proposition and visibility in markets across the world. Today, we have expanded our operations to US and UK markets globally and have also witnessed 100%+ growth in sales. We are confident that Season II will play a transformation role in the success of participating startups to win in global markets,”Meghana Narayan, Co-Founder, Slurrp Farm and the winner of the inaugural season said.
More about the Startup Accelerator
The startup accelerator is accepting applications now through March 14, 2022. Interested startups should visit http://www.amazon.in/propel to fill out an application. Startups in the consumer products industry that have obtained investment in the post-seed to pre-series A stage (if financed) and want to grow their business to global markets can apply to join the accelerator program. An Amazon-led panel will assess the submissions based on the business idea, scalability and strength of the business plan/model, business KPIs in launched markets, and founding team qualifications, among other factors. On March 22, 2022, applications will be shortlisted and accepted into the startup accelerator.
For the shortlisted participants, the program will include an eight-week 1:1 mentorship module in which they will interact with Amazon leaders from India and around the world, Startup India leaders, and VC partners, and gain firsthand knowledge on building and scaling up exports businesses through eCommerce. Through its Exports program, Amazon Global Selling, Amazon will assist these startups in launching their products globally. The accelerator program will give businesses the opportunity to pitch their business ideas to Accel, DSG Consumer Partners, Fireside Ventures, and Sequoia Capital India, among others.