Amazon India has launched the fourth season of Propel, a global business accelerator for startups in the consumer products sector. This unique program is designed to support emerging Indian brands and startups in reaching customers worldwide through e-commerce exports. Propel S4 aims to assist up to 50 startups in launching in international markets and establishing global brands from India. Participants stand to win rewards worth over $1.5 million, including AWS Activate credits, six months of free logistics and account management support, and a combined $100,000 in grants for the top three winners. Amazon will also connect participating startups with Indian revenue-based financing firms such as Klub, Velocity, and GetVantage, which will offer curated deals to help them scale their businesses.
Applications for the program open today and close on June 14, 2024. The program will culminate in a demo day where participants can pitch their business ideas to leading VC firms for a chance at funding to expand their operations. As part of Propel S4, Amazon has assembled a mentorship board comprising Amazon leaders, VC partners, and senior industry figures who will provide tailored resources, 1:1 mentorship, and workshops on global demand patterns and insights on building successful export businesses through e-commerce. Additionally, Amazon will host peer learning sessions with veteran entrepreneurs and Propel alumni to facilitate networking and knowledge sharing among participating startups.
Bhupen Wakankar, Director of Global Trade at Amazon India, expressed excitement about the launch of the fourth season of the Propel Accelerator. He highlighted that the program has already helped over 70 Indian startups, including Minimalist, Sirona, Ecoright, Perfora, and Butterfly Edufields, to scale globally. Wakankar emphasized that the Propel Accelerator was created to help emerging companies realize their business potential and create globally popular brands from India. He noted that Season 4 offers an expanded range of benefits and support, aiming to help up to 50 Indian startups launch in global markets this year. This initiative is a key part of Amazon’s commitment to achieving $20 billion in e-commerce exports from India by 2025.
Tushar Khurana, Co-founder of Perfora and a winner of Propel Accelerator Season 3, shared his experience, stating that the program helped them expedite their market launch, connect with peers, and engage with VC firms and industry leaders. He credited the Amazon team for their support from setup to launch, which played a crucial role in Perfora’s global ambitions.
The entries for Propel Global Business Accelerator Season 4 are open until June 9, 2024. Startups in the consumer products space with global expansion aspirations can apply. Applications will be evaluated by an Amazon-led cross-disciplinary panel based on business idea, scalability, business plan/model strength, business metrics, and founding team credentials. The top 250 applicants will enter a two-month bootcamp, receiving marketplace insights and compliance and logistics support to launch in global markets. Fifty finalists will be selected for the program, receiving 1:1 account management support from Amazon and guidance on key aspects such as product identification, inventory planning, demand forecasting, ad optimization, and preparing for global sales events. They will also interact with senior leaders from Amazon and the industry on strategies like ‘Go to Market’ approach and ‘Product Market Fit.’ The program will end with a Demo Day, where the top 10 startups will pitch their business propositions to a panel of leaders from Amazon, VC partners, and others. The top three winners will receive a combined $100,000 in grants from Amazon.
