Dikhyaa Mohanty 
E-commerce major Amazon announced that a $250 million fund by the Amazon Smbhav Venture Fund will invest in startups and entrepreneurs converging on technology innovations in SMB digitisation, agriculture and healthcare.
As per the reports, in the opening session of Amazon India’s flagship event Smbhav, the fund was announced and the company officially stated that the venture will invest in technology-led start-ups that are passionate about the unlocking possibilities of digital India.
The report further elaborated that the fund will specifically focus on encouraging the best ideas to digitise SMBs (small & medium businesses) and drive technology-led innovation in agriculture to improve farmer productivity.
Along with this, Amazon also announced that plans will digitally empower and will bring one million offline retailers and neighbourhood stores online, on the Amazon India marketplace, by 2025 through the ‘Local Shops on Amazon’ programme.
Amazon also launched the ‘Spotlight North East’ initiative to bring 50,000 artisans, weavers and small businesses online from the eight states in the north-eastern region of India by 2025 and to boost exports of key commodities like tea, spices and honey from the region.
While addressing Smbhav 2021, Amit Agarwal, Global Senior VP and Country Head, Amazon India stated that in 2021 the company pledges to digitise ten million SMBs which will enable $10 million in exports and will create one million jobs by 2025. Through these initiatives, the company are committed to being 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 Prime Minister Narendra Modi.
Amit Agarwal further added that the launch of Amazon Smbhav Venture Fund aims to attract the best ideas and empower entrepreneurs in the country to partner in this vision. Additionally, these initiatives to onboard 1 million offline shops on Amazon. and digitally empower the northeast region will accelerate the progress towards a digital and self-reliant India.
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