Amazon announces the fourth season of Propel – a global business accelerator for startups

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Amazon announces the fourth season of Propel – a global business accelerator for startups
Amazon announces the fourth season of Propel – a global business accelerator for startups
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Amazon announces the fourth season of Propel – a global business accelerator for startups; aims to launch 50 Indian startups in global markets in 2024

Startups stand to win total rewards worth over $1.5 million including $100K in grants from Amazon and also get a shot at funding from VC partners; Amazon to provide dedicated support to all finalists to launch in international markets

• Propel Season 4 (Propel S4) brings together all key stakeholders like VC partners, revenue-based financing partners, cross-border logistics & payments players and Amazon leaders to provide Indian startups the right guidance and mentorship to create global brands
• Amazon Smbhav Venture Fund, Peak XV Partners, Fireside Ventures, DSG Consumer Partners, Accel, V3 Ventures and Elevation Capital are the VC partners for the program in 2024. They will feature on the panel to evaluate the winners of Propel Season 4.
• 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 the season 3.

*Kolkata,May 16 2024: Amazon India today announced the launch of the fourth season of Propel – a global business accelerator for startups in the consumer products space. This one of its kind program has been designed to provide dedicated support to emerging Indian brands and startups reach customers around the world using ecommerce exports. The Propel S4 will support up to 50 startups 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 $100K in grant from Amazon for the top 3 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.

The applications for the program opens 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 and provide them tailored resources, 1:1 mentorship and workshops on the global demand patterns and insights on building successful exports business through ecommerce. 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.

Bhupen Wakankar, Director Global Trade at Amazon India said, “I am excited about the launch of the fourth season of Propel Accelerator. We have already helped over 70 Indian startups scale globally through this program including Minimalist, Sirona, Ecoright, Perfora and Butterfly Edufields. We had started the Propel Accelerator to provide emerging companies an opportunity to bring their business propositions to life and create globally popular brands from India and we are excited for a brand-new season of Propel. The season 4 is bigger and better with expanded range of benefits and support to help up to 50 startups from India launch in global markets this year. This program is a key part of our commitment to enable $20 billion in e-commerce exports from India by 2025.”

Tushar Khurana, Co-founder, Perfora – one of the winners of Propel Accelerator Season 3, said “At Perfora we were always excited about selling globally. In the past we have been inspired by brands who built from India for the world and considering the universal nature of a category like oral care, selling to global markets was always on the cards. A nudge in this direction came when we enrolled for the third season of the Propel Startup Accelerator in 2023. By participating in this program, we ended up expediting our market launch, connecting with right peers to learn from their experiences and engaging with VC firms and other industry leaders to gain relevant insights. The Amazon team supported us from set up to launch and the program 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.”

More about the Propel Global Business Accelerator Season 4
The entries for the Propel Global Business Accelerator Season 4 open today until June 14, 2024. Startups in the consumer products space with a vision to expand their business to global markets can apply to be a part of the accelerator. The entries will be evaluated by an Amazon led cross-disciplinary panel on the basis of the business idea, scalability and strength of the business plan/model, business metrics, founding team credentials, amongst others. Top 250 applicants will be inducted into a two-month bootcamp where 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 program. This cohort will receive 1:1 account management support from Amazon including guidance on identifying key products and categories to sell globally, inventory planning and demand forecasting, ads optimization strategies, preparing for global sale events, and more. They will also get to interact with senior leaders from Amazon and the industry on areas like ‘Go to Market’ approach, finding the right ‘Product Market Fit’ etc. The program will culminate with a Demo Day, top 10 startups from the finalist cohort will pitch their business propositions to a panel comprising of leaders from Amazon, VC partners and others. The panel will select the top three winners of the program who will receive combined $100K in grants from Amazon. For more information, please visit http://www.amazon.in/propel

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Antara Tripathy M.Sc., B.Ed. by qualification and bring 15 years of media reporting experience.. Coverred many illustarted events like, G20, ICC,MCCI,British High Commission, Bangladesh etc. She took over from the founder Editor of IBG NEWS Suman Munshi (15/Mar/2012- 09/Aug/2018 and October 2020 to 13 June 2023).
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