Amazon launches entrepreneurship challenge for Indian start-ups

Amazon India on Thursday announced the launch of the Amazon Smbhav Entrepreneurship Challenge 2022. Designed around the theme of 'Make in India', Amazon stated that the initiative will provide participating start-ups from anywhere in the country a chance to showcase their business proposition and get a chance to win cumulative cash prizes up to Rs 65 lakhs and other rewards 

For this initiative, the e-commerce firm has collaborated with the Ministry of Skill Development and Entrepreneurship, National Innovation Foundation, an autonomous body of the Department of Science and Technology, and the NIF Incubation and Entrepreneurship Council, Fireside Ventures and Freshworks. 

The aim of the challenge is to advance the objective of reaching start-up founders across Indian cities and nurture grassroot innovations from the deepest pockets of the country, explained Amazon in an official statement. 

It added that the challenge is open to start-ups across all industries, verticals and business models. 

The top 250 start-ups will get access to a network of start-up founders, rewards from Amazon and partner organisations, and mentoring sessions designed to equip them for the pitch days. 

The top 25 start-ups will get a chance to access support for market linkages, global exposure, exclusive rewards and perks, and an opportunity to showcase their businesses to potential customers, approach leading investors and be mentored by industry experts.

The winners will be chosen through customer votes and a cross-discipline jury panel.

Amazon will announce the winners at the third edition of its annual flagship summit Amazon Smbhav being organised on May 18-19. The winning start-up from the final round will be crowned 'Amazon Smbhav '22 Startup of the Year' with a cash prize of Rs 40 lakhs, and the first and second runners up will win cash prizes of Rs 15 lakhs and Rs 10 lakhs respectively.

Commenting on the launch, Manish Tiwary, Country Manager, India Consumer Business, Amazon India said, "Throughout India, start-ups are setting new benchmarks in problem solving and delivering products and solutions for customers not just in India, but across the world. At Amazon, we support and celebrate builders, entrepreneurship and innovation, and the Smbhav Entrepreneurship Challenge 2022 is part of our commitment to enable startups and emerging brands across India realise their full potential and contribute to India's economic progress." 

Earlier this year, Amazon signed an MoU with the NIF Incubation and Entrepreneurship Council (NIFientreC) to accelerate grassroots innovation, local economy and livelihoods across rural India. 

As part of the MoU, NIFientreC, with Amazon's help will bring together experts from various fields, to hold masterclasses, workshops, and other interactive training programs on all aspects of product distribution and its availability for the end-user in the most convenient ways. 

This collaboration the company claims, will help promote the creativity and innovation of students and budding entrepreneurs specializing in consumer-based technology innovation at a grassroot level and accelerate the growth of a digital India.

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