Amazon's Propel 4 aims to launch 50 Indian startups in global markets in 2024
Kolkata: Amazon India has announced the launch of the fourth season of Propel – a global business accelerator for startups in the consumer products space.
This one-of-a-kind program has been designed to provide dedicated support to emerging Indian brands and startups to reach customers around the world using e-commerce exports.
The Propel S4 will support up to 50 startups launch in international markets and create global brands from India.
Participating startups stand to win total rewards worth over $1.5 million including AWS Activate credits, six months of free logistics and account management support, as well as a combined $100K in grant from Amazon for the top 3 winners.
Amazon will also help participating startups connect with Indian Revenue-based-financing firms namely Klub, Velocity and GetVantage who will provide curated offers to the participating startups to expand their business at scale.
The applications for the program opened on May 16, 2024, and will close on June 14, 2024.
It will culminate in a demo day where participants will get a chance to pitch their business propositions to leading VC firms and get a shot at funding to expand their operations.
As part of Propel S4, Amazon has constituted a mentorship board consisting of Amazon leaders, VC partners and senior industry leaders who will engage with emerging brands and provide them with tailored resources, 1:1 mentorship and workshops on the global demand patterns and insights on building successful export business through e-commerce.
Amazon will also host sessions focused on peer learning by inviting veteran entrepreneurs and Propel Alumni to help participating startups network and learn from their existing ecosystem.
The entries will be evaluated by an Amazon-led cross-disciplinary panel on the basis of the business idea, scalability and strength of the business plan/model, business metrics, and founding team credentials, amongst others.
The top 250 applicants will be inducted into a two-month boot camp where they will receive marketplace insights as well as compliance and logistics support to launch in global markets.
At least 50 applicants will be shortlisted as the finalist cohort and inducted into the program.
They will also get to interact with senior leaders from Amazon and the industry on areas like the ‘Go to Market’ approach, finding the right ‘Product Market Fit’ etc.
The program will culminate with a Demo Day, top 10 startups from the finalist cohort will pitch their business propositions to a panel comprising of leaders from Amazon, VC partners, and others.
The panel will select the top three winners of the program who will receive a combined $100K in grants from Amazon. For more information, please visit http://www.amazon.in/propel
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