Amazon launches Smbhav Entrepreneurship Challenge to Enable New Indian Startups Realize Potential
Bangalore, Karnataka, India Business Wire India
Partners with Ministry of Skill Development and Entrepreneurship, National Innovation Foundation (NIF), NIF Incubation and Entrepreneurship Council (NIFientreC), Fireside Ventures and Freshworks to identify and engage with startups across the country.
Participating startups stand to win equity-free cash prizes upto INR 65 lakhs along with several value-added services and rewards.
Amazon India announced the launch of the Amazon Smbhav Entrepreneurship Challenge 2022. Designed around the theme of Make in India', the initiative will provide participating startups from anywhere in the country a chance to showcase their business proposition and get a chance to win cumulative cash prizes up to INR 65 lakhs and other rewards. Amazon 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 reaching startup founders across Indian cities and nurture grassroot innovations from the deepest pockets of the country.
Amazon Smbhav Entrepreneurship 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 organizations, 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. 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 the 18th & 19th of May. The winning startup from the final round will be crowned Amazon Smbhav '22 Startup of the Year' with a cash prize of INR 40 lakhs, and the first and second runners up will win cash prizes of INR 15 lakhs and INR 10 lakhs respectively.
Dr Jitendra Singh, Hon'ble Union Minister of State (Independent Charge), Science & Technology and Earth Sciences says, I am pleased to deepen our partnership with Amazon on this mission of creating opportunities. Amazon Smbhav Entrepreneurship Challenge 2022 would look forward to scouting eligible entities in large numbers, and I am confident that this kind of a purposeful partnership will bring digitization in MSMEs, enabling them to contribute to India's economic growth. In line with the Hon'ble Prime Minister Shri Narendra Modi's call to build an Atmanirbhar Bharat, I am proud to announce my Ministry's partnership with Amazon on this Challenge to empower talented entrepreneurs across Tier 2/ Tier 3 cities and rural areas to reach their fullest potential. India might still be the 3rd largest start-up ecosystem in the world but ours is the ecosystem where the grassroot innovators have equal opportunities.
Manish Tiwary, Country Manager, India Consumer Business, Amazon India, said, 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. 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.
Kanwaljit Singh, Founder & Managing Partner, Fireside Ventures said, Indian startups are making waves across the world and are touching new heights with cutting edge innovation. There is immense potential for Indian brands to strengthen their foothold in the global stage and drive the next phase of India's growth story. We at Fireside Ventures are delighted to be partnering with Amazon for the Smbhav Entrepreneurship Challenge 2022 - Make in India and play our part in supporting rising entrepreneurs spearhead towards success.
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 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.
About Amazon Smbhav 2022
Earlier this week, Amazon announced that it will host the third edition of Amazon Smbhav' on May 18th and 19th this year. The two-day virtual mega summit will bring together policy makers, eminent industry leaders, solution providers, startups and Amazon leadership for invigorating discussions on best ways to leverage technology to enable digitization and economic progress of lakhs of small local sellers and businesses across India. The summit will feature keynotes, panel discussions, masterclasses and more on the significance of technology adoption across industries while focusing on key thrust areas like Social Empowerment & Enablement for Inclusive Economic Growth, innovating for India & creating digital infrastructure and more. A key highlight of the Amazon Smbhav every year are the annual Amazon Smbhav Awards' that recognizes businesses, innovators and individuals who have made a significant progress in their respective areas and contributed towards building an Atmanirbhar Bharat.
For more information on Amazon Smbhav, please visit http://amazon.in/smbhav
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