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Amazon Propel: Boost for Indian Startups in the Online Market

The initiative seeks to uplift local startups by offering them financial aid, logistical support, and a global platform to showcase their products.

Edited By : Finance Desk | Updated: May 16, 2024 14:40 IST
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Amazon has launched the fourth season of its Propel program, aiming to provide substantial support to consumer-focused startups in India.

A Variety of Support on Offer

  • The fourth season of Amazon Propel will extend aid to 50 startups. Each selected startup stands to receive a grant of up to ₹12.5 lakhs.
  • Additionally, these startups will benefit from six months of free logistical services, coupled with account management support.
  • The top three winners of the program will share a grant of $1 lakh (approximately ₹84 lakhs).

Application Deadline of June 9th

Applications for Amazon Propel are now open, with the final date to apply being June 9th. Interested participants can simply search for “Amazon Propel” on Google, navigate to the official website, and click on “Apply now” to submit their applications.

Eligibility Criteria

To participate in Amazon’s Propel program, startups need to meet certain requirements:

  • The startup must be in the consumables business, covering sectors such as grocery, beauty, kitchenware, clothing, etc.
  • A trade mark should be in place.
  • There must be an existing supply chain capable of meeting global demand.
  • Products offered should be unique and innovative.

What Defines a Startup?

While every business is not a startup, every startup is indeed a business. A startup is essentially a business that addresses and solves specific problems faced by people. For example, companies like Paytm, Flipkart, Amazon, Zepto, Swiggy, Ola, Uber, and Chai Sutta Bar are all notable startups. They initially focus not on profits but on resolving issues for consumers. Take Zepto, for instance, which started with the idea of delivering groceries to your doorstep. Although many startups do not make profits initially, they often grow into billion-dollar enterprises over time.

Government Support for Startups

The government also offers aid for those looking to start their own businesses. Various government schemes provide loans to help startups grow. Through initiatives like ‘Startup India,’ participants can learn the intricacies of running a startup from industry veterans. This enables new entrepreneurs to navigate the complexities of the startup world more effectively.

Also Read: New Draft Guidelines From RBI Focus On Payment Aggregators

First published on: May 16, 2024 02:40 PM IST

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