Amazon announces $250 million fund for SMEs

Popular

RBI asks HDFC Bank to stop digital launches and credit card...

The Reserve Bank of India (RBI) has asked the country's largest private sector lender, HDFC bank to stop all launches of its digital business...

Assam’s Dibrugarh University Teacher Arrested For Sharing Porn Video: Police

During interrogation, the accused confessed to the crime. (Representational)Dibrugarh: An assistant professor in Assam's Dibrugarh University was arrested today for allegedly uploading pornographic content...

Process to avail full refund on Lockdown Air Tickets

The Supreme Court approved the Directorate General of Civil Aviation's (DGCA) proposal on air tickets refund and credit shell on flights booked prior and...

Why was CDS Gen. Bipin Rawat’s attending China-owned MG Motor event;...

US Ambassador Kenneth Juster greets CDS Gen Bipin Rawat with elbow bump | Watch ...

Explained: How new H-1B visa regime will impact Indians, Indian firms

In yet another policy stance change on H-1B visa within six months, the US administration on October 6 said it was announcing an “interim...

The company will help build brand new businesses.

E-commerce giant Amazon on Thursday announced a $250 million (around ₹1,873 crore) fund that will focus on digitising small and medium businesses, and drive innovation in the areas of agri-tech and health-tech.

“Small and medium-sized businesses are often the engine and the lifeblood of economies and I think it’s true in India as well. And we are very passionate about trying to enable acceleration of SMBs in fueling innovation and the economy in India and so building on what we did last year, I’m excited to announce a brand new $250 million Amazon Smbhav Venture Fund,” Amazon Web Services CEO Andrew Jassy CEO said.

Under this, Amazon intends to help inspire more SMBs to be able to build brand new businesses, Mr. Jassy, who will take over as Amazon Inc CEO later this year, said during the second Amazon Smbhav event.

Amazon India Global SVP and Country Head India Amit Agarwal said the fund is targeted at empowering the best ideas, and attracting visionary entrepreneurs.

“The fund is going to focus on three key priorities – SME digitisation, agri-tech innovations to empower farmer productivity and reach, and health-tech to provide universal and quality health care,” he added.

Source link

Latest News

Your Queries – Income Tax: Give scrip-wise details in ITR to calculate long term...

The resultant capital gain shall be brought to tax accordingly.By Chirag Nangia I had purchased shares of one firm in 2016 and again in 2018....

Home Loans: Now is the time to renegotiate your loan terms

When repriced @6.75%, the EMI is Rs 88,491. A monthly saving of Rs 10,000.By Raj KhoslaAs the second wave of pandemic hits India, it’s...

Canara Bank posts ₹1,010 cr. Q4 net profit

Canara Bank reported fourth quarter net profit of ₹1,010 crore as against a net loss of ₹6,567 crore in the corresponding year-earlier period. The...

Maruti Suzuki, Zydus Hospital partner to open new hospital in Gujarat

Maruti Suzuki India in partnership with Zydus Hospitals has announced the start of a multi-speciality hospital at Sitapur in Ahmedabad, Gujarat. Built at...

Google rolls out News Showcase in India

Google on Tuesday announced the roll-out of News Showcase in India with 30 news publishers, including national, regional and local news organisations.The News Showcase...