Amazon India launches $250 mn fund to invest in startups

The new venture fund, announced at the opening session of Amazon's flagship event Smbhav, will specifically focus on encouraging the best ideas to digitise SMBs, 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.

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. 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. 

Fibre2Fashion News Desk (RKS)