In a new development to promote and nurture the grassroots talents while conducting masterclasses and training programs, Amazon has signed an MoU with NIF Incubation and Entrepreneurship Council (NIFientreC), a Technology Business Incubator (TBI) led by the National Innovation Foundation (NIF), an autonomous institute of the Department of Science and Technology for readily distribution of market products for the benefits of the end-users.
Established in 2015, NIFientreC offers initial financial support from the Department for incubation and commercialization by assisting technological ideas and innovations of innovators, traditional knowledge, and students from different parts of the country.
The announcement of the partnership came days after the declaration of the National Start-up Day by the Prime Minister, Narendra Modi.
Rakesh Maheshwari, Executive Director, NIFientreC, and Sumit Sahay, Director, Amazon Seller Services Private Ltd (ASSPL), signed the deal from their respective organizations. The agreement is said to strengthen the commercial dissemination of innovative products from local startups and enrich the country's startup culture in-line with the above announcements, revealed in the Ministry of Science and Technology press release.
Dr. Gulshan Rai, Chairperson, NIFientreC, said, "Owing to the fast-paced technological transformation happening in India, nothing could be considered a better way and time to strengthen the presence of grassroots entrepreneurs while ensuring their innovations reach the targeted consumers all over the country.”
Manish Tiwary, Vice President, Amazon India, said,” Amazon’s partnership with the NIFientreC aimed at bringing the benefits of digitalization and e-commerce to the elementary-level entrepreneurs while paving a new way of growth and possibility for student innovators from rural areas to sell the millions of their products to Amazon customers in India and outside the country.”
"The partnership is a milestone in developing the country’s innovation and entrepreneurship ecosystem for giving a new ray of hope for grassroots innovators while offering them a growing platform to connect instantly with millions of consumers than ever before. The step would prove as a stepping stone for immeasurable growth and success that the rest of the world would want to replicate,” added Director, NIF, Dr. Vipin Kumar.
Reportedly, the agreement between Amazon and NIF will open and boost the new and reliable delivery channels for the nation's ordinary people while supporting the local economy and creating livelihood. Furthermore, it will facilitate new innovators from the deepest corners of the country to leverage the benefits of the prevailing Mexican wave of the eCommerce industry.
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