Amazon India on Thursday announced a $ 250 million venture fund, which will invest in start-ups that focus on technology innovations for the digitization of small and medium businesses (SMBs), agriculture and healthcare.
“Small and medium-sized businesses are often the lifers of engines and economies and I think the same is true in India. And we are very passionate about trying to enable the acceleration of SMB in promoting innovation and economy in India, “Andy Jessie, CEO of Amazon Web Services and incoming CEO of Amazon, spoke at the company’s ‘Smooth’ event said in.
The company said the venture fund will invest in technology-based start-ups who are passionate about unlocking the potential of Digital India.
In the SMB sector, Amazon will invest in technology start-ups that digitize SMBs for demand access, efficient operations, and supply chain efficiency.
“Venture funds will independently invest in start-ups, launch their businesses globally by launching, managing and developing SMBs online, automating and digitalizing their operations, and exporting to customers worldwide. Will build solutions to expand. These investments will help promote seeds and innovation in the region.
Similarly in the agri-tech sector, the venture fund aims to invest in Indian start-ups that use technology to deliver the best production to consumers, make agri-inputs more accessible to farmers, improve productivity for farmers Provides tailored agricultural solutions to farmers, disbursing loans and insurance or reducing food waste by building efficient farms for thorn supply chains.
In the healthcare sector, venture funds will invest in start-ups that provide technology for digital support of healthcare providers such as doctor assistance, telemedicine, e-diagnostics, AI-driven treatment recommendations or independent primary care clinics, clinical laboratories, medicinal value are using it. Chain or specialized physician clinics to improve access to a broad patient base agnostic of physical geographic location.
The e-commerce giant announced plans to digitally empower and bring one million offline retailers and neighborhood stores online through the Amazon program by 2025 on the Amazon India marketplace. It launched the ‘Spotlight North East’ initiative to bring 50,000 artisans, weavers and small businesses online from eight states in the North East region of India by 2025 and boost exports of key commodities such as tea, spices and honey from the region.
Amit Agarwal, Global Senior VP and Country Head, Amazon India, said, “The launch of Amazon Smabhav Venture Fund aims to attract the best ideas in the country and make entrepreneurs a partner in this vision. Additionally, our initiative on one million offline outlets on Amazon.in and digitally empowering the North Eastern Region will accelerate progress towards a digital and self-reliant India. “
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