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Collin Furtado · · 1 min readAmazon launches $250m venture fund for SMEs in India
“Ecommerce giant Amazon on Thursday announced a US$250 million fund that will focus on digitizing small and medium businesses, and drive innovation in the areas of agri-tech and health-tech,” reported Livemint.
Details:
- Called the Amazon Smbhav Venture Fund, it will focus on tech innovations made by small and medium-sized enterprises in India.
- Amazon India also said that it will onboard 1 million offline retailers and local neighborhood shops on its website by 2025.
Context:
- The fund’s three major areas of focus are the digitization of small businesses in India as well as agritech innovations and healthtech.
- The announcement was made at the Amazon Smbhav Summit, a four-day event for SMEs in the country.
Editing by Eileen C. Ang
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