Amazon India has announced the launch of the third season of Amazon Global Selling Propel Startup Accelerator (Propel S3) – an initiative designed to provide dedicated support to emerging Indian brands and startups to reach customers around the world.
A statement released by Amazon India said that the Propel S3 will support up to 50 D2C startups launch in international markets and create global brands from India. The program offers participants a chance to win total rewards worth over $1.5 million including AWS Activate credits, ads credits as well as logistics and account management support for one year.
The top 3 winners will also get a combined $100K in equity free grant. Amazon will also help participating startups connect with Revenue-based-financing firms including Klub and Velocity who will provide curated offers to the participating startups to expand their business at scale.
As part of the Propel S3, Amazon has constituted 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 tailored resources, one-on-one mentorship and workshops on the global demand patterns and insights on building successful exports business through ecommerce. 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 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. The season 3 is bigger and better with 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 – one of the winners of Propel Accelerator Season 2 said, “The program helped us interact with Amazon leaders and other experts which was critical in planning our international expansion. It is perhaps the most effective program for brands aiming to go global. After winning the 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 build on our presence in other markets.
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, founding team credentials amongst others. 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 statement added.
The Propel Startup Accelerator Season 3 will feature an eight-week long workshops and 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 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 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.