Amazon launches Season 3 of Propel Startup Accelerator
- ByStartupStory | March 24, 2023
Amazon India has unveiled the third edition of its Amazon Global Selling Propel Startup Accelerator (Propel S3) program aimed at supporting emerging Indian brands and startups to reach a global audience.
This program will enable up to 50 direct-to-consumer startups to launch their businesses in international markets, with rewards worth over $1.5 million, including one year of logistics and account management support, AWS Activate credits, and ad credits.
Additionally, the top three winners will receive a combined $100,000 in equity-free grants. Amazon will also assist participating startups in connecting with revenue-based financing firms such as Klub and Velocity, who will offer tailored deals to help the startups expand their business.
Starting today, interested startups can submit their applications for the program until April 30, 2023. The program will conclude with a demo day where participants can showcase their business ideas to top venture capital firms and potentially receive funding to expand their operations.
As part of Propel S3, Amazon has formed a mentorship board that includes leaders from Amazon India and around the world, VC partners, and senior industry experts.
They will engage with emerging brands to provide customised resources, one-on-one mentorship, and workshops on global demand patterns and insights on building a successful export business through e-commerce.
Additionally, Amazon will host sessions focused on peer learning by inviting veteran entrepreneurs and alumni of the Propel program to help participating startups network and gain insights from their existing ecosystem.
According to Bhupen Wakankar, Director Global Trade at Amazon India, “the Global Selling Propel Accelerator was established to offer emerging companies a chance to bring their business ideas to life and build globally recognized brands from India. The program has seen significant interest and entrepreneurial spirit in the first two seasons, with over 1500 startups applying. Season 3 has been enhanced with a broader range of benefits and support to assist 50 startups from India in launching in global markets this year. This program is a vital part of Amazon India’s commitment to enable $20 billion in e-commerce exports from India by 2025”.
The entry period for the Propel Startup Accelerator Season 3 is open from today until April 23, 2023. The selected startups will have an opportunity to present their business ideas to partner VC firms, such as Amazon Smbhav Venture Fund, Sequoia Capital India, Fireside Ventures, Accel, DSG Consumer Partners, and V3 Ventures, at a Demo Day later in 2023.
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