Amazon Announces Fourth Season of Propel Business Accelerator, Aiming to Launch 50 Indian Startups Globally in 2024
Bengaluru, May 14, 2024: Amazon India has announced the launch of the fourth season of Propel, a global business accelerator program designed to support startups in the consumer products space. This unique initiative aims to help emerging Indian brands reach international customers through e-commerce exports. Propel S4 will support up to 50 startups in launching into global markets, aiming to create global brands from India.
Participants in the program 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 $100K grant from Amazon for the top three winners. Additionally, Amazon will facilitate connections with Indian revenue-based financing firms such as Klub, Velocity, and GetVantage, offering curated financing opportunities to help startups scale their businesses.
Application Details and Program Structure:
Applications for Propel S4 open today and will close on June 9, 2024. The program will culminate in a demo day, where participants will pitch their business propositions to leading venture capital firms for potential funding. A mentorship board consisting of Amazon leaders, VC partners, and senior industry figures will provide tailored resources, one-on-one mentorship, and workshops on global demand patterns and successful export strategies. Sessions focused on peer learning will feature veteran entrepreneurs and Propel alumni, helping startups network and learn from the existing ecosystem.
Statements from Key Figures:
Bhupen Wakankar, Director of Global Trade at Amazon India, expressed his enthusiasm: “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. Propel Accelerator provides emerging companies with an opportunity to bring their business propositions to life and create globally popular brands from India. Season 4 is bigger and better, offering an 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 of Perfora and a winner of Propel Accelerator Season 3, shared his experience: “At Perfora, we were always excited about selling globally. Enrolling in the third season of the Propel Startup Accelerator in 2023 expedited our market launch and connected us with peers, VC firms, and industry leaders. The Amazon team supported us from setup to launch, playing a catalytic role in our global ambitions. We are excited to take Perfora to customers all across the globe.”
More About Propel Global Business Accelerator Season 4:
Entries for Propel Global Business Accelerator Season 4 are open until June 9, 2024. Startups in the consumer products space with a vision to expand globally can apply. Entries will be evaluated by an Amazon-led cross-disciplinary panel based on the business idea, scalability, business metrics, and founding team credentials. The top 250 applicants will enter a two-month bootcamp to receive marketplace insights, compliance, and logistics support. Fifty finalists will receive one-on-one account management support from Amazon, including guidance on product selection, inventory planning, ads optimization, and preparation for global sales events.
The program will conclude with a demo day, where the top 10 startups will pitch their business propositions to a panel from Amazon, VC partners, and other leaders. The panel will select the top three winners, who will receive a combined $100K in grants from Amazon.
This initiative reflects Amazon’s ongoing commitment to fostering innovation and supporting the growth of Indian startups in the global marketplace.
