<p>Amazon India on Thursday announced the setting up of a $250 million (about Rs 1,875 crore) Amazon Smbhav Venture Fund to invest in startups and entrepreneurs focusing on technology innovations in SMB digitisation, Agriculture and Healthcare.</p>.<p>The venture fund will invest in technology-led startups that are passionate about unlocking possibilities of a digital India. The venture fund will specifically focus on encouraging the best ideas to digitize SMBs (Small & Medium Businesses), drive technology-led innovation in agriculture to improve farmer productivity and enable them to bring the best of India’s farms to consumers, and enable universal and quality healthcare access for all using technology.</p>.<p>Additionally, Amazon announced plans to digitally empower and bring 1 million offline retailers and neighbourhood stores online, on the Amazon India marketplace, by 2025 through the Local Shops on Amazon programme. The announcement came at its annual summit Amazon Smbhav.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/angry-indian-traders-counter-amazon-summit-with-own-event-974257.html">Angry Indian traders counter Amazon summit with own event</a></strong></p>.<p>At the same event, Amazon also launched the ‘Spotlight North East’ initiative to bring 50,000 artisans, weavers and small businesses online from the 8 states in the North East region of India by 2025 and to boost exports of key commodities like tea, spices and honey from the region. These new initiatives were announced during a fireside chat at Amazon Smbhav between Andy Jassy, AWS CEO and incoming CEO of Amazon, and Amit Agarwal, Global Senior VP and Country Head, Amazon India where they reiterated Amazon’s long-term commitment to unlock the infinite possibilities for India.</p>.<p>Speaking at Smbhav 2021, Amit Agarwal, Global Senior VP and Country Head, Amazon India said, “In 2020, we pledged to digitise 10 million SMBs, enable $10 billion in exports, and create 1 million jobs by 2025. Through our initiatives, we are committed to be a catalyst and a partner in unlocking the possibilities for a Digital India, and realise the vision of an Aatmanirbhar Bharat as put forth by the Hon’ble PM.”</p>.<p>The launch of the Amazon Smbhav Venture Fund aims to attract the best ideas and empower entrepreneurs in the country to partner in this vision. “Additionally, our initiatives to onboard 1 million offline shops on Amazon.in and digitally empower the North East region will accelerate the progress towards a digital and self-reliant India,” he said.</p>
<p>Amazon India on Thursday announced the setting up of a $250 million (about Rs 1,875 crore) Amazon Smbhav Venture Fund to invest in startups and entrepreneurs focusing on technology innovations in SMB digitisation, Agriculture and Healthcare.</p>.<p>The venture fund will invest in technology-led startups that are passionate about unlocking possibilities of a digital India. The venture fund will specifically focus on encouraging the best ideas to digitize SMBs (Small & Medium Businesses), drive technology-led innovation in agriculture to improve farmer productivity and enable them to bring the best of India’s farms to consumers, and enable universal and quality healthcare access for all using technology.</p>.<p>Additionally, Amazon announced plans to digitally empower and bring 1 million offline retailers and neighbourhood stores online, on the Amazon India marketplace, by 2025 through the Local Shops on Amazon programme. The announcement came at its annual summit Amazon Smbhav.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/angry-indian-traders-counter-amazon-summit-with-own-event-974257.html">Angry Indian traders counter Amazon summit with own event</a></strong></p>.<p>At the same event, Amazon also launched the ‘Spotlight North East’ initiative to bring 50,000 artisans, weavers and small businesses online from the 8 states in the North East region of India by 2025 and to boost exports of key commodities like tea, spices and honey from the region. These new initiatives were announced during a fireside chat at Amazon Smbhav between Andy Jassy, AWS CEO and incoming CEO of Amazon, and Amit Agarwal, Global Senior VP and Country Head, Amazon India where they reiterated Amazon’s long-term commitment to unlock the infinite possibilities for India.</p>.<p>Speaking at Smbhav 2021, Amit Agarwal, Global Senior VP and Country Head, Amazon India said, “In 2020, we pledged to digitise 10 million SMBs, enable $10 billion in exports, and create 1 million jobs by 2025. Through our initiatives, we are committed to be a catalyst and a partner in unlocking the possibilities for a Digital India, and realise the vision of an Aatmanirbhar Bharat as put forth by the Hon’ble PM.”</p>.<p>The launch of the Amazon Smbhav Venture Fund aims to attract the best ideas and empower entrepreneurs in the country to partner in this vision. “Additionally, our initiatives to onboard 1 million offline shops on Amazon.in and digitally empower the North East region will accelerate the progress towards a digital and self-reliant India,” he said.</p>
