Amazon’s accelerator aims to launch 50 Indian startups in global markets
Bhupen Wakankar, Director Global Trade Amazon India
Amazon India today announced the launch of the fourth season of Propel – a global business accelerator for startups in the consumer products space. This programme 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 to 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 $100,000 in grant from Amazon for the top three 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.
Propel S4 brings together all key stakeholders like VC partners, revenue-based financing partners, cross-border logistics and payments players, and Amazon leaders. They would provide Indian startups the right guidance and mentorship to create global brands. Also, Amazon Smbhav Venture Fund, Peak XV Partners, Fireside Ventures, DSG Consumer Partners, Accel, V3 Ventures, and Elevation Capital are the VC partners for the programme in 2024. They will feature on the panel to evaluate the winners of Propel Season 4.
“This is an on-ground and hands-on experience programme with tools and technology provided by Amazon. The coaching is provided by Amazon account managers using the company’s cross-border logistics programme,” said Wakankar. “We want Amazon tools to be accessible to not just established brands but the smallest of the startups as well.”
The applications for the programme open today 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. They provide them with tailored resources, one-on-one mentorship, and workshops on global demand patterns and insights on building successful export businesses 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.
Previous winners of Propel include Slurrp Farm, Sirona Hygiene and Wellbeing Nutrition from Season 1, Solethreads, EcoRight, and GoDesi from Season 2, and Mirana Toys, Avimee Herbal, and Perfora from Season 3.
Tushar Khurana, co-founder at oral care brand Perfora and one of the winners of Propel Accelerator Season 3, said that by participating in this programme, the firm ended up expediting its market launch and connecting with the right peers to learn from their experiences. It engaged with VC firms and other industry leaders to gain relevant insights. “The Amazon team supported us from setup to launch, and the programme has played the role of a catalyst for our global ambitions. This is just the start and we are excited to take Perfora to customers all across the globe,” said Khurana.
For Propel S4, the top 250 applicants will be inducted into a two-month boot camp. Here they will receive marketplace insights as well as compliance and logistics support to launch in global markets. 50 applicants will be shortlisted as the finalist cohort and inducted into the programme.
First Published: May 14 2024 | 6:29 PM IST