- Amazon’s accelerator program called Global Propel Accelerator Program looks at three winners looking to tap into global markets.
- Encouraged by the demand for Indian consumer products worldwide,
Amazoncommitments to enable exports of $20 billion by 2025 from India.
- Online retailer partners with Sequoia Capital India, Fireside Ventures, Accel and DSG Consumer Partners to help Indian brands in their journey.
If there’s one thing Hollywood’s A-listers attending the Academy Awards look forward to every tear, it’s the luxurious Oscar basket worth over $100,000. Along with goodies like gold-infused olive oil and crystal bath combs, this year’s basket featured a sustainable Rover Bottle manufactured by Vadham, a direct-to-consumer brand born in India. It may have been a first for an Indian brand, but if Amazon India has its way, many more brands worldwide will be bragging about in the coming years.
For decades, India has been a back office to the world, but not many people would bet their dollar on local brands selling to the world. The world’s largest online retailer thinks otherwise, which is why it has pledged to enable ‘Made in India’ exports of $20 billion by 2025.
Amazon India has enabled Indian merchants to tap into global markets in recent years, but there appears to have been a strong shift in consumer behavior following the pandemic. The global retailer has seen this exciting shift front-row, launching its accelerator program in 2020 to enable consumer brands to go global. Global Propel Accelerator Program looks at three winners this week on Demo Day who will receive equity-based financial backing and a chance to pitch to venture capitalists.
Just as a flatter world made it easier for companies like Infosys and TCS to serve a global market, technology platforms are now helping Indian brands sell globally by removing much of the friction exporters face when buying their goods. sell abroad. The driver is Amazon India’s accelerator program, which is partnering with Sequoia Capital India, Fireside Ventures, Accel and DSG Consumer Partners for the second season of its program this year. By the way, Vadham started selling on Amazon early on and today it largely focuses on the global markets.
Amazon’s Global Propel Accelerator Program not only helps brands go global, but also offers consumer brands the opportunity to pitch to venture capital firms to fund growth plans.
Consumer behavior in different geographies is converging and it is possible for brands to target a homogeneous group of customers. Testing water on the Amazon platform helps brands validate their proposition, then double bet on accelerating their growth. DSG has been associated with this program since last year.
It’s platforms like Amazon and their influence that enable entrepreneurs like Abhishek Shah to dream of creating a premium men’s athleisure brand and selling it to customers around the world. Abhishek Shah, co-founder and CEO of Almo, says they were born to sell globally, but Amazon’s mentorship program has been invaluable to the team. The bootcamp lasted eight weeks and will culminate in the Demo Day this week.
The initiative aims to solve various problems facing young companies through dedicated support for regulatory support in different countries, cross-border payments and logistics. As part of this program, Amazon and its partners will host an eight-week bootcamp where several partners and mentors coach the founders. The online retailer is betting $100,000 on three winners as stock support. Out of 1,000 applicants, 15 startups have been shortlisted for the Demo Day on September 7.
Udit Sood, co-founder of EcoRight, a company that seeks to tackle the problem of plastic pollution through its range of sustainable products, bags and accessories, says: “Amazon’s Global Accelerator Program fits what we did. we can do a lot more. The accelerator is focused on teaching brands how to sell globally and this is an advantage. Many sessions with Amazon leaders and VCs have helped to understand how to do business in general and the bandwidth for product development.”
There are several brands in India that have tapped into the global markets with great success. Brands like Vadham, Sleepy Owl, EcoRight and Almo are already selling in other countries through Amazon.
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