Amazon Current Affairs

Amazon launches global startup program ‘Launchpad’ in India

E-commerce giant Amazon has launched its global startup program ‘Launchpad’ in India. The program will enable Indian startups to sell their products overseas.

In this regard, Amazon India has tied up with Department of Industrial Policy and Promotion (DIPP)’s Start Up India and NASSCOM.

Amazon also has partnered with NASSCOM’s 10,000 Startups and Indian Angel Network (IAN) along with NITI Aayog, Governments of Maharashtra, Telangana and TiE to help roll in startups.

Key Facts
  • The Amazon Launchpad was started in 2015. It aims to help startups to sell, market, and deliver their products to gain more visibility.
  • Through this programme Amazon partners with startups and sells their products on its e-commerce platform.
  • Now it is available in seven regions and features over 400 products from different startups including 25 Indian startups.

Amazon Launchpad will provide an exceptional opportunity for Indian Startups to get access to big consumer markets nationally and internationally. Through this program small entrepreneurs and innovators can leverage Amazon’s online platform to increase scale of their businesses and get easy access to global markets.


SBI inks MoU with Amazon for payment, commerce solutions

India’s largest public sector lender, State Bank of India (SBI) has signed memorandum of understanding (MoU) with e-commerce giant Amazon. The MoU seeks to identify and tap the potential areas of collaboration for payments and commerce solutions between both signatory parties.

Through this tie, SBI is seeking to enrich customers’ payment experience and opening up the windows of e-commerce to its small and medium enterprise (SME) customer’s base which is the largest in the country.

While e-tailers like Amazon are set to gain even if a percentage of SBI’s SME customers after they adopt the online payment platform for their businesses.

SBI is also looking to tap Amazon’s expertise and talent in order to connect potential buyers and sellers, along with efficient ways of sourcing raw materials for existing customers.

SBI is also seeking to ink similar agreement with other e-commerce players such as Snapdeal and Paypal for similar payments and commerce solutions.