Enterprising Spirit

Amazon launches Smbhav Entrepreneurship Challenge 2022 for startups across the country

PTI
PTI
Posted on 04 Apr 2022
16:47 PM
The top 25 startups will be able to showcase their business to potential customers, approach investors and be mentored by industry experts.

The top 25 startups will be able to showcase their business to potential customers, approach investors and be mentored by industry experts. Source: Pixabay

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Summary
E-commerce firm partners with ministry of skill development and entrepreneurship, National Innovation Foundation (NIF), NIF Incubation and Entrepreneurship Council, Fireside Ventures and Freshworks to identify and engage with startups
Participating startups stand to win equity-free cash prizes upto Rs 65 lakh along with several value-added services and rewards

Amazon India has announced the Amazon Smbhav Entrepreneurship Challenge 2022 that 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 of up to Rs 65 lakh and other rewards.

Amazon has collaborated with the Ministry of Skill Development and Entrepreneurship, National Innovation Foundation (NIF), 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.

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Designed around the ‘Make in India’ theme, 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.

Jitendra Singh, minister of state (independent charge) for Science and Technology and Earth Sciences, said, “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 startup ecosystem in the world but ours is the ecosystem where the grassroot innovators have equal opportunities.”

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, which is being organised on May 18 and 19. The winning startup from the final round will be crowned Amazon Smbhav ‘22 Startup of the Year’ with a cash prize of Rs 40 lakh, and the first and second runners up will win cash prizes of Rs 15 lakh and Rs 10 lakh respectively.

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 and managing partner, Fireside Ventures, added, “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.”

Last updated on 04 Apr 2022
16:47 PM
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