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Monday, 10 May 2021 08:48 GMT

Amazon announces $250 million fund for small, medium businesses in India


(MENAFN - Trend News Agency) E-commerce giant Amazon on Thursday announced a USD 250 million (about Rs 1,873 crore) fund that will focus on digitising small and medium businesses, and driving innovation in the areas of agri-tech and health-tech in India.

'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 fuelling innovation and the economy in India,' Amazon Web Services CEO Andrew Jassy said.

Building on last year's announcement, Amazon is announcing a new USD 250 million Amazon Smbhav Venture Fund, Jassy, who will take over as the CEO of Amazon Inc later this year said during the second Amazon Smbhav event.

He noted that Amazon intends to help inspire more SMBs to be able to build brand new businesses.

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