Amazon has partnered with Startup India to launch an accelerator program called Amazon Global Selling Propel (AGSP). The initiative is designed to provide global market access to Indian firms, Amazon said in a statement.
As part of the Startup Accelerator, Amazon said that it has constituted a mentorship board consisting of Amazon leaders from India and across the world, Venture Capital firms, and senior leaders from Startup India and Invest India, who will engage with emerging brands and provide them tailored resources, 1:1 mentorship on global demand patterns, and insights on building successful exports businesses through e-commerce.
“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 program will provide startups an opportunity to showcase their business proposition to partner VC firms—Sequoia Capital India and Fireside Ventures—and a chance to win a total equity-free grant of $50,000 from Amazon,” the e-tailer said.
“There are many promising, emerging brands that have the capability to become big and go global. This is a timely initiative that can prove a big stepping stone,” said Deepak Bagla, MD & CEO, Invest India.