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Focuses on grassroots innovation
India today has become the third largest startup ecosystem in the world and entrepreneurship in India is not limited to just the top metros. Small and medium businesses across the country are contributing significantly to India’s GDP, and digitization and e-commerce are playing a key role in providing an equal opportunity for businesses of all sizes and scales.
With a growing entrepreneurial culture and a supportive ecosystem, anyone from the home-based entrepreneur or grassroots innovator to the largest businesses can use the digital economy, online marketplaces and e-commerce to gain instant access to millions of customers around the world. And that’s the idea behind Amazon Possible Entrepreneurship Challenge.
Main idea behind entrepreneurship
The Amazon Sambhav Entrepreneurship Challenge provides an opportunity to Indian startups with high potential to accelerate their growth journey and create a massive long-term impact. It is a major attraction of Amazon Possible Amazon’s annual marquee summit aimed at unlocking endless possibilities for a Digital India.
This year, Amazon received applications from ~2000 diverse startups in 240 cities. The competition was open to Indian startups across all industries, verticals and business models. The top 250 shortlisted startups were invited for a curated mentoring program to prepare themselves for the rest of the competition and the journey ahead. Top 30 startups participated in the demo day and presented their businesses to eminent leaders of the startup ecosystem.
Finalist in the challenge
In celebration of entrepreneurship and innovation, 5 finalists share their stories, products and services with Amazon customers, and will receive equity-free grants of up to INR 65 lakhs, market linkages, global exposure, mentoring, AWS credits, Amazon Launchpad access, Amazon global selling support, and more. Freshworks credits, other exciting rewards, and the opportunity to showcase your business to clients, investors, and industry experts.
Genius Energy Critical Innovation, headquartered in Alwar, Rajasthan, emerged as the Startup of the Year. Ecoware and Teabox are recognized as the first and second runners-up.
The Winner, Sumit Sahai
Congratulations to India Director of Amazon Selling Partner Services said, “At Amazon, we are committed to the vision of a Digital India, driven by digital empowerment and digital inclusion. Our priorities are perfectly aligned with the government’s vision of creating a more digital self-reliant India. In 2020, we pledged to digitally enable over 1 crore MSMEs across the country by 2025.
The Amazon Smbhav Entrepreneurship Challenge is a step towards extending our support to entrepreneurs, small businesses and emerging brands. I congratulate all the winners of Amazon Sambhav Entrepreneurship Challenge 2022 for their contribution towards building a self-reliant India through their unique innovations. I am excited by the tremendous opportunities that lie ahead for these startups.”
Amazon Possible ’22 Startup of the Year: Genius Energy
Today, with Genius Energy, Subhash is able to show that the firewood required for production mawa Using its flagship boiler, milk can be reduced from 100 kg to just 20 kg. Today, they continue their journey of innovation by diversifying and entering various industries across India to save energy and protect the environment.
High potential, innovative thinking, unique innovations and cutting edge technologies of innovators in India are fueling India’s thriving startup ecosystem. India’s entrepreneurial spirit needs to be celebrated and nurtured and the importance of platforms like Amazon Sambhav Entrepreneurship Challenge, which support emerging small and medium businesses, cannot be underestimated.
