Amazon launches the season 2 of Propel Startup Accelerator; program aimed at boosting exports and creating global brands from India
- Sequoia Capital India, Fireside Ventures continue as VC partners from Season 1, Accel and DSG Consumer Partners come on board
- Popular Bollywood actor and angel investor Kunal Kapoor joins the program as a mentor
- Participating startups stand to win equity free grant worth $100K from Amazon and a chance to pitch to partner VC firms
- Slurrp Farm, Sirona and Wellbeing Nutrition were the winners of inaugural season of the program in 2021.
Bengaluru – February 09, 2022: Amazon India today announced the launch of the second season of Global Selling Propel startup accelerator – an initiative designed to provide dedicated support to emerging Indian brands and startups to reach customers around the world. The startup accelerator has been designed to support early-stage startups in the consumer products space to launch in international markets and create global brands from India through Amazon’s Global Selling program. The participating startups will get a chance to win a total equity free grant of $100,000 from Amazon as well as free AWS credits worth $10,000. The program will provide startups an opportunity to showcase their business propositions to partner VC firms – Accel, DSG Consumer Partners, Fireside Ventures and Sequoia Capital India. Popular Bollywood actor and angel investor Kunal Kapoor has joined the program 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 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.”
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.
Meghana Narayan, Co-Founder, Slurrp Farm and the winner of the inaugural season said, “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.”
More about the Startup Accelerator
The entries for the startup accelerator open today until 14th March, 2022. The interested startups can log on to http://www.amazon.in/propel and complete their application. 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 program. 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 on 22nd March, 2022 and inducted into the startup accelerator.
The program 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 ecommerce. Amazon will provide the support for these startups to launch their products worldwide through its Exports program – Amazon Global Selling. The accelerator program will provide startups a chance to showcase their business proposition to partner VC firms – Accel, DSG Consumer Partners, Fireside Ventures and Sequoia Capital India.
For more information, please visit http://www.amazon.in/propel
The Amazon.in marketplace is operated by Amazon Seller Services Private Ltd, an affiliate of Amazon.com, Inc. (NASDAQ: AMZN). Amazon.in seeks to build the most customer-centric online destination for customers to find and discover virtually anything they want to buy online by giving them more of what they want – vast selection, low prices, fast and reliable delivery, and a trusted and convenient experience; and provide sellers with a world-class e-commerce marketplace.
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