Amazon Launches Smbhav Entrepreneurship Challenge 2022 to Enable Emerging Indian Startups to Realize Their Potential

The Amazon Smbhav Entrepreneurship Challenge is open to startups from all industries, sectors, and business models. Designed around the theme of 'Make in India', this initiative will provide participating startups from any part of the country with an opportunity to showcase their business offerings and win cumulative cash prizes of up to Rs 65 lakh and other rewards.

Amazon has teamed up with the Ministry of Skills Development and Entrepreneurship, the National Innovation Foundation (an independent body under the science and technology division), the Council on Entrepreneurship and the NIF Incubation, Fireside Ventures, and Freshworks to further the goal of reaching founders of startups around the world. Indian cities are encouraging popular innovations from the deepest pockets of the country.

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The Amazon Simbhav Entrepreneurship Challenge is open to startups from all industries, sectors, and business models. The top 250 startups will have access to a network of startup founders, Amazon Rewards, partner organizations, and mentoring sessions designed to prepare them for presentation days. Top 25 startups can access support market links, global exposure, exclusive rewards and benefits, the opportunity to showcase their work to potential clients, network with leading investors, and receive mentoring from industry experts.

Winners will be selected by customer vote and a multidisciplinary jury. Amazon will announce the winners of the third edition of the groundbreaking annual Amazon Simbhaf Summit on May 18-19. The winning startup in the final round will be crowned with the “Amazon Smbhav’22 Startup of the Year” cash prize of Rs 40 lakh and the first and second runners-up will win cash prizes of Rs 15 lakh and Rs 10 lakh respectively.

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“I am delighted to deepen our partnership with Amazon on the mission to create opportunity,” says Jitendra Singh, Minister of State for Consortium (Independent Officer), Science, Technology, and Geosciences. The Amazon Smbhav Entrepreneurship Challenge 2022 hopes to explore a large number of eligible entities, and I am confident that this kind of meaningful partnership will bring digitization to MSMEs, enabling them to contribute to India's economic growth.”?

“In line with His Excellency Prime Minister Shri Narendra Modi’s call to build the Atmanirbhar Bharat, I am proud to announce my Ministry’s partnership with Amazon in this challenge to empower talented entrepreneurs in Tier ll/Tier lll cities and rural areas. To reach their maximum capacity. India may remain the third largest startup ecosystem in the world, but ours is the ecosystem where core innovators have equal opportunities.”

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“Across India, startups are setting new standards in solving problems and delivering products and solutions to customers not only in India but across India. All over the world,” said Manish Tiwari, Regional Director, India for Consumer Business, Amazon India. We support and celebrate builders, entrepreneurship, and innovation, and the Smbhav Entrepreneurship Challenge 2022 is part of our commitment to empowering startups and emerging brands across India to realize their full potential and contribute to the economic progress of India.”

Kanwaljit Singh, Founder and Managing Partner of Fireside Ventures said: “Indian startups are making waves across the globe and reaching new heights with the latest innovations. There is huge potential for Indian brands to cement their position on the global stage and drive the next phase of India's growth story. We are pleased. It is at Fireside Ventures that we partner with Amazon for the Smbhav Entrepreneurship Challenge 2022 - Make in India and play our part in supporting up-and-coming entrepreneurs to succeed.”

Earlier this year, Amazon signed a Memorandum of Understanding with the Council for Incubation and Entrepreneurship (NIF) to accelerate innovation at the grassroots level, the local economy, and livelihoods in rural India. As part of the MoU, NIFientreC, with the help of Amazon, will bring together experts from various fields to conduct master classes, workshops, and other interactive training programs on all aspects of distributing the product and making it available to the end-user in the most appropriate manner. More convenient. This collaboration will help boost the creativity and innovation of students and emerging entrepreneurs specializing in consumer-driven technology innovation at the grassroots level and accelerate the growth of Digital India.