Amazon offers Rs 65 lakh, other rewards to Indian grassroot startups

Bengaluru, March 31 Amazon India on Thursday announced 'Smbhav Entrepreneurship Challenge 2022' where selected grassroot startups in India will stand a chance to win Rs 65 lakh and other rewards like mentoring sessions.

The initiative will provide participating startups from anywhere in the country a chance to showcase their business proposition.

The winning startup will take home Rs 40 lakh, and the first and second runners up will win Rs 15 lakh and Rs 10 lakh, respectively.

Amazon said it 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 to advance the objective of nurturing grassroot innovations.

"India might still be the third largest startup ecosystem in the world but ours is the ecosystem where the grassroot innovators have equal opportunities," said Union Science and Technology and Earth Sciences Minister Dr Jitendra Singh.

The Amazon challenge is open to startups across all industries, verticals and business models. The top 250 startups will get access to a network of startup founders, rewards from Amazon and partner organisations, and mentoring sessions designed to equip them for the pitch days.

The top 25 startups can 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, said the ecommerce giant.

"Throughout India, startups are setting new benchmarks in problem solving and delivering products and solutions for customers not just in India, but across the world," said Manish Tiwary, Country Manager, India Consumer Business, Amazon India.

The company will host the third edition of 'Amazon Smbhav' on May 18-19 this year.