SUMMARY
The winners will receive dedicated support to launch in international markets and access to $100K in equity free grant
Propel Accelerator is a key part of our pledge to enable $20 bn in cumulative exports by 2025: Amazon
More than a 1,000 startups and emerging brands applied and 15 were selected as finalists including Sleepy Owl Coffee, Shumee, Masterchow, among others
Ecommerce major Amazon has announced the winners of the second edition of its Global Selling Propel Accelerator. Footwear startup Solethreads, eco-friendly bag manufacturers EcoRight and online confectionary brand Go Desi made the cut and emerged as the winners of the program.
Under the initiative, the startups will receive dedicated support to launch in international markets and scale up operations. The winners will also cumulatively get access to $100K in equity free grant and cloud computing credits worth $300K via Amazon Web Service (AWS).
“The true success of the Propel Accelerator reflects in the growing number of startups and D2C brands adopting it to launch in global markets. This program is a key part of our pledge to enable $20 Bn in cumulative exports by 2025 and contribute to the government’s vision of taking local, global,” said Amazon’s senior vice president for India and emerging markets Amit Agarwal.
The initiative was kicked off in February this year in partnership with marquee investors such as Accel, DSG Consumer Partners, Fireside Ventures and Sequoia Capital India.
More than 1,000 startups and emerging brands applied for the initiative and 15 were selected as finalists, including names such as Sleepy Owl Coffee, Shumee, Masterchow, Almo, among others.
The startups were judged by a panel comprising Fireside Ventures’ Prayag Mohanty, Sequoia India’s Abhishek Mohan, Accel’s vice president Radhika Ananth, among others. The startups were purportedly evaluated on a slew of parameters including scalability, business metrics, founding team credentials and others.
The finalists were also provided mentorship on global demand patterns and insights. Amazon also said that it conducted workshops and allowed finalists to learn and network with other entrepreneurs in the industry.
In addition, the remaining shortlisted finalists will also cumulatively receive $600K in AWS activate credits.
The accelerator was launched in January last year and aims to help early-stage consumer brands expand globally. The first edition was clinched by health food brand for children Slurrp Farm, feminine hygiene startup Sirona and nutrition startup Wellbeing Nutrition.
Amazon’s Global Selling initiative was launched back in 2015 to help ‘lower the entry barrier’ for Indian micro, small and medium enterprises (MSMEs) to commence or expand their ecommerce exports. As part of the initiative, Amazon has onboarded more than 1 Lakh exporters, surpassing $5 Bn in cumulative sales since its inception.
In a statement, Amazon said that it is targeting $20 Bn in cumulative exports from India under the programme by 2025.
According to an Inc42 report, India’s total addressable ecommerce opportunity is expected to surge to $200 Bn by 2026, with the D2C market expected to hover around $100 Bn by 2025.
