Amazon India has launched the third season of the Amazon Global Selling Propel Startup Accelerator (Propel S3) initiative aimed at offering support to emerging Indian brands and startups in reaching customers globally. Propel S3 will aid up to 50 D2C startups in launching their products in international markets and creating global brands from India. The program offers rewards worth over $1.5 million, including AWS, Activate credits, ads credits, logistics, and account management support for one year. The top 3 winners will receive a combined $100K in the equity-free grants. Amazon will also help participating startups connect with Revenue-based-financing firms including Klub and Velocity to expand their business at scale.
Applications for the program open today and will close on April 30, 2023. The program will end in a demo day where participants will pitch their business propositions to leading VC firms and get a shot at funding to expand their operations.
As part of the Propel S3, Amazon has created a mentorship board consisting of Amazon leaders from India and across the world, VC partners, and senior 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 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.
Bhupen Wakankar, Director of Global Trade at Amazon India, said, “We had started the Global Selling Propel Accelerator to provide emerging companies an opportunity to bring their business propositions to life and create globally popular brands from India. In the first two seasons, we saw great interest, ideas, and entrepreneurial spirit with more than 1500 startups applying for the program. Season 3 is bigger and better with an expanded range of benefits and support to help 50 startups from India launch in global markets this year. This program is a key part of our commitment to enable $20 billion in e-commerce exports from India by 2025.”
Udit Sood, Co-Founder EcoRight, and one of the winners of Propel Accelerator Season 2 said, “The program helped us interact with Amazon leaders and other experts who were critical in planning our international expansion. It is perhaps the most effective program for brands aiming to go global. After winning season 2, we have set up operations in more than 10 countries with Amazon and are managing it seamlessly sitting in India. We are excited by the response we are getting from global customers and are looking forward to further building on our presence in other markets.
More about the Propel Startup Accelerator Season 3
The entries for the Propel Startup Accelerator Season 3 open today until 23rd April 2023. Interested startups can log on to http://www.amazon.in/propel and complete their application. Startups in the consumer products space 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 cross-disciplinary panel on the basis of the business idea, scalability, and strength of the business plan/model, business metrics in launched markets, and founding team credentials amongst others. The top 150 applicants will be inducted into a 1-month boot camp where they will receive handhold support, marketplace insights as well as compliance and logistics support to launch in at least one global market. 50 applicants will be shortlisted as finalists and inducted into the Propel startup accelerator Season 3.
The Propel Startup Accelerator Season 3 will feature eight-week-long workshops and a mentorship connects calendar for the shortlisted participants where they will get to interact with industry leaders and get firsthand knowledge on building and scaling up export businesses through e-commerce. Amazon will provide support for these startups to launch their products worldwide through its Exports program – Amazon Global Selling. The Propel Startup Accelerator Season 3 will provide startups a chance to showcase their business proposition to partner VC firms – Amazon Smbhav Venture Fund, Sequoia Capital India, Fireside Ventures, Accel, DSG Consumer Partners, and V3 Ventures at a Demo Day later in 2023. For more information, please visit http://www.amazon.in/propel