Amazon Global Selling Propel (AGSP) programme, Amazon’s acceleration program, has partnered with the government’s ‘Invest India’ initiative to help around 10 Indian start-ups to reach global markets. The company will provide a grant of $50,000 (Rs 37 lakh) to the top three winners of the programme. It has also tied up with venture capital firms Sequoia Capital India and Fireside Ventures, which will invest in some of these businesses.
Amazon India in a statement stated the partnership with Start-up India to launch the accelerator programme will provide emerging brands an opportunity to bring their business propositions to life and help create globally popular brands from India. Amazon India helped over 70,000 Indian sellers and small businesses from its global selling initiative to generate sales worth $2 billion to date and expects goods worth $10 billion to be exported from India by 2025.