Amazon pumps $250 million in startups, SMBs and introduce dedicated stores in North East India
Amazon to soon let sellers connect with customers directly
E-commerce giant Amazon India has launched $250 million Amazon Smbhav Venture Fund (the venture fund) to invest in startups and entrepreneurs focusing on technology innovations in SMB (small and medium business) digitization, agriculture and healthcare. The venture fund will invest in technology-led startups that are passionate about unlocking the possibilities of a digital India.
The fund will specifically focus on encouraging the best ideas to digitize SMBs (small and medium businesses). It would drive technology-led innovation in agriculture to improve farmer productivity and enable them to bring the best of India's farms to consumers. It would also enable universal and quality healthcare access for all using technology.
"The small and medium sized businesses are the engine and the lifeblood of economies and it's true in India as well.
Amazon is also onboarding 1 million offline retailers and neighbourhood stores by 2025. As part of its commitment to digitize SMBs in India, Amazon will onboard 1 million offline retailers and neighbourhood stores by 2025 through the Local Shops on Amazon programme. Amazon had launched the 'Local Shops on Amazon' program to help bring offline retailers and neighbourhood stores online and supplement footfalls at their stores with a digital presence on Amazon.in.
To showcase unique GI products and hidden gems like Chakshesang Shawls from Nagaland, Muga Silk from Assam, different types of weaves like Moirang Phee from Manipur, varieties of teas and spices like the Mizo Chilli. Amazon will launch a dedicated North East storefront on its marketplace.
