India has emerged as the third-largest startup ecosystem in the world after the US and China, according to the Economic Survey 2021-22 report[1]. The survey noted that the government recognised over 14,000 new startups in 2021-22 against 733 in 2016-17.
Clearly, India’s business landscape has become more conducive to entrepreneurship, as it fosters new technologies, innovation, and creates employment.
So, are you a startup owner? Then here’s your chance to shine. Apply for the Amazon Smbhav Entrepreneurship Challenge 2022, powered by Fireside Ventures and co-powered by Freshworks. The Challenge scouts for high-potential startups to accelerate their growth and create long-term impact at scale while empowering them to take their business to the next level.
What to expect?
So, it’s quite a bit more than a competition. For the initiative, Amazon has partnered 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, to reach founders across India while nurturing innovations from the deepest pockets of the country.
The crowning moment
The winning startup will be crowned ‘Smbhav Startup of the Year’ with a cash prize of INR 40 Lakh, while the first and second runners-up will win cash prizes of INR 15 Lakh and INR 10 Lakh respectively. Besides, three special mention awards will be given under separate categories, for the Most Sustainability Focused Startup, Most Promising Woman-Led Startup, and the Most Promising Consumer Product Startup.
The top 250 shortlisted startups stand to win access to curated rewards from Amazon and partner organisations, a network of startup founders, and mentoring sessions designed to equip them for the pitch days. These startups will be evaluated by an eminent jury of panellists, and the top 25 startups will get access to support for market linkages, global exposure and exclusive rewards and perks. Again, out of the top 25, five finalists will win the race.
Finally, the winners of the Challenge will be selected through jury scores and customer votes, and will be announced at the Amazon Smbhav 2022 Summit on May 18 and 19 among thousands of participants including SMBs, entrepreneurs, policy makers and global leaders.
The Challenge is open to startups across all industries, verticals, and business models, but interested participants must be an Indian-registered entity, and should have been established for no more than 10 years since the date of incorporation, with a turnover not exceeding INR 250 crore for any financial year.
So, startups, here’s your chance to showcase your promising products and services, for India and the world!
Click here to apply now, and claim cash prizes, rewards, market access, global exposure, a curated mentoring program, and an opportunity to showcase your brand to potential customers, approach leading investors and be mentored by industry experts. Be a part of the movement, and accelerate your journey to drive impact at scale!
For more on the competition, visit https://smbhav.amazon.in/summit/participate/startup-pitch/?ld=YS_SM.
1. https://www.livemint.com/economy/economic-survey-india-becomes-third-largest-startup-ecosystem-in-the-world-11643626506129.html ↑