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Technology

Indian SMBs To Get Major Boost As Microsoft India Announces ‘Dynamics 365 Business Central’, a Comprehensive Business Management Solution

Microsoft
Microsoft (Photo Credits: Twitter)

With an aim to encourage small and medium-sized businesses (SMBs) in India, Microsoft India has announced the general availability of Dynamics 365 Business Central, which is a comprehensive business management solution SMBs. The tech giant has customized this solution for India. The Dynamics 365 Business Central solution comes with inbuilt features that address local regulatory and market requirements for ease of business, including a tax engine comprising over 500 pre-configured use cases and business scenarios for GST, TDS and tax collected at source (TCS).

The Microsoft Dynamics 365 Business Central solution was announced by Microsoft during ‘Building a Resilient Future’, a virtual summit organised to discuss building resilience among SMBs in the presence of Union Road Transport and Highways Minister Nitin Gadkari. Microsoft Dynamics 365 Business Central is available through Microsoft Cloud Solution Providers (CSPs) in the country, the company said.

Here’s how Dynamics 365 Business Central would benefit the Indian SMBs:

  1. An all-in-one cloud solution, Dynamics 365 Business Central helps companies ensure business continuity by connecting sales, service, finance, and operations teams.
  2. It offers customers affordable and easily manageable tools that simplify and expedite everyday business processes.
  3. “We believe it will help small and medium-sized organisations move to the cloud confidently and be future proof,” said Rajiv Sodhi, Chief Operating Officer, Microsoft India.
  4. The solution can be accessed from any mobile device to conduct business on-the-go

During the launch, Gadkari said digitalisation is of utmost importance in the development of MSMEs, and could make the system more transparent, time-bound, and result-oriented. “In future, this would create efficiencies, create more market, and would be important for the growth of MSMEs in the country,” Gadkari added.

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Business motivation Business Startup Ideas Startup Webinar

How to host a successful webinar? Top 3 Impactful ways to Host a Webinar that your Audience will Love!

Webinars are dime a dozen. The webinars have flooded the internet over the past few years. And according to a report by Content Marketing Institute, “more than 60% of the digital marketers are currently using webinars as part of their marketing strategies.”

As successful webinars especially for startups are becoming one of the most effective and profitable ways of attracting potential customers, more marketers are beginning to take advantage of them.

Many of you will find it unbelievable. But do a quick Google search for the term “webinar” and you will be presented with more than thousands of results. You will feel like you have entered into a webinar jungle. But the key is to not get lost in the webinar jungle just yet.

There is a reason why the concept of the webinar is becoming increasingly successful and popular. And out of all, the primary one is- that they WORK!

However, there is a catch. A webinar becomes successful only if done correctly. And guess what, the road is far from easy!

Boring, bland, and beige- most of the webinars are just that. When was the last time you attend a webinar that was exciting, engaging, and informative- all at the same time?

A successful webinar can convert visitors and subscribers into real customers because they have already signed up for it and looking for exactly what you have promised to deliver. People love practical guidance because it helps them.

So if you are looking to host a successful webinar for your business startup, here are the top three most essential and effective ways to have one:

  1. Quality Content is Paramount

If you have decided to host a webinar, of course, you are interested in sales. After all, you are not shedding money for a bunch of free leads to watch your webinar for no reason. However, focusing too much on the end sales and not enough on content is one of the biggest mistakes that people make.

Content is imperative to make a webinar successful. Good quality content is imperative. And you cannot sacrifice with it. Do not ever compromise with the quality for the sake of quantity, speed, or a potential sale. It Never Works!

So how can you create engaging content without ever sacrificing the quality?

There are three components and three simple ways to do it. And to make it easier for you, we are revealing them all, right here.

a). Presentation– Does your webinar looks professional? Do you have a speedy internet connection? What is in the background behind you? Have you practiced sufficiently? Your users will judge your webinar on visual appeal.

Also, it is essential to remain mindful of your customers while creating content. If you are marketing to a less professional audience, less professional materials will resonate more with them.

b). Storytelling– Do you think you are an entertaining storyteller? Can you present your content clearly and concisely? If yes, then you are good to go! If you struggle in this area, you can also hire a ghostwriter or a copywriter to assist you in your webinar production.

c). Interaction- Last, but far away from the least is Interaction. Interact with your audience. Answer their questions. Resolve their queries. Provide feedback and your expertise, all in real-time.

Also, do not talk about your product until the very last of your presentation.  Provide great content first, and sell at the very end.

  1. TIMING is ESSENTIAL

Timing is everything! And when it comes to webinars, it is crucial in a couple of ways.

Firstly, decide when you want to host your webinar. Pick a time that will be convenient for you as well as your audience. Secondly, do not start promoting or advertising your webinar a day before. Start advertising about it at least a month before. Also doing a countdown on your webinar is recommended.

Lastly, decide on the length of the webinar. What should be the duration of your webinar? As your audience is busy, you will be taking a chunk of their precious time. Respect it. And try to keep your webinar for 30-60 minutes.

  1. PREPARATION

Prepare, prepare, prepare as this is the most important key to host a successful webinar for startups. This is not the place to miss it.

Pick an appealing and compelling headline. Shoot a short video, reel, or write a short blog to tell people what they can gain and learn in your webinar and, how that knowledge will add value to their life.

Then start advertising it on all your social media channels. Always ensure that the webinar is free and/or it’s a limited-time opportunity. If this is the first time you are hosting a webinar then practice your presentation skills.

Your speech should sound casual, conversational, and natural. Practice it, until you get it right. Do not hesitate to ask for help. You can also take a professional`s help in nailing the webinar.

With the above-mentioned tips, your webinar will be a hit! Have any of your tips to add? We would love to hear them.

If you want to learn how to host a successful webinar for your business startup, you can take our ‘Problem Solving Courses’, where every business challenge has been provided with practical and easy solutions.

Categories
Startup

Startup India Seed Fund Scheme To Support Startups and Domestic Entrepreneurs; Here’s How the Scheme Would Help Businesses

startup ipo india

New Delhi, April 20: Startup India seed fund scheme would support domestic entrepreneurs and their business ideas that often cannot take off due to the absence of critical capital at an early stage, Commerce and Industry Minister Piyush Goyal on Monday said. The Startup India seed fund scheme was announced by Prime Minister Narendra Modi in January to support startups and help budding entrepreneurs pursue innovative ideas. The Minister said that good ideas often get bought out by international venture capitalists at throwaway prices.

While launching the scheme, Goyal said that the idea behind the scheme is to ensure adequate availability of funds, particularly to startups with good ideas in different fields. “I do hope that this scheme will support our domestic entrepreneurs and their business ideas that often cannot take off due to the absence of critical capital at an early stage,” Goyal added.

The scheme will be implemented from April 1, 2021. The Rs 945 crore corpus will be divided over the next four years for providing seed funding to eligible startups through eligible incubators across India.

Here’s how the Startup India seed fund scheme would benefit the startups:

  1. The scheme will secure seed funding, inspire innovation, support transformative ideas, and facilitate implementation of those ideas.
  2. Smaller towns are often deprived of adequate funding and this scheme will create a robust startup ecosystem in Tier 2 and Tier 3 regions of India.
  3. The government has constituted an Experts Advisory Committee(EAC) which will be responsible for the overall execution and monitoring of the scheme.
  4. Over 7,500 new startups are incorporated every year and it is essential to provide seed funding to startups with innovative ideas to conduct their ”Proof of Concept”.
  5. The scheme is being launched by DPIIT (Department for Promotion of Industry and Internal Trade) to support this early-stage startup funding.
  6. It would provide financial assistance to startups for Proof of Concept, prototype development, product trials, market entry and commercialization. The scheme aims to support an estimated 3,600 entrepreneurs through 300 incubators.

Reports inform that the online portal created by DPIIT for the scheme will allow incubators to apply for funds under it. Also, grants of up to Rs 5 crore shall be provided to the eligible incubators selected by the EAC. The selected incubators would provide grants of up to Rs 20 lakh for validation of Proof of Concept, or prototype development, or product trials to startups. According to eports, an investments of up to Rs 50 lakh will be provided to the startups for market entry, commercialization, or scaling up through convertible debentures or debt-linked instruments.

 

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Marketing Sales Startup Strategy

5 Reasons why Content Marketing is Crucial to your business!

‘Content is King’-we all have been hearing this since the evolution of digital marketing. But, as the coronavirus pandemic continues to ravage the world`s economy and countries, this phrase seems to fit the bill like never before- especially for the entrepreneurs who rely on content marketing campaigns to attract more audience and get the word out about their business.

We live in an era where the audiences are tech-savvy enough to recognize the reliability and ignore the noise from the traditional advertising methods.

According to a Mckinsey report, India`s newly digitizing sectors have the potential to create a whopping-sized economic value by 2025. From $130 billion to $170 billion in financial services, including digital payments; $50 billion to $65 billion in agriculture; $25 billion to $35 billion each in retail and e-commerce, logistics, and transportation; and $10 billion in energy and healthcare, the trend of businesses going digital is going to stay.

Considering how smart and discerning audiences have become, businesses are making constant efforts to reach out to potential customers with content that is more valuable, reliable, and consistent.

This era belongs to the quality content and the rule for businesses. It is not an exception but has become a necessity as it allows businesses to produce and deliver the information to the audiences.

Despite the positive trend, some businesses are not so keen to focus on content marketing because they see it as an unnecessary expense. In reality, content marketing is crucial to your business because of the following reasons:

1. Helps to Win your Audience`s Trust

Can you win your audience`s trust by merely advertising your products? Not really! Your customer will begin to trust you only after you provide content that is reliable and valuable. Nobody is interested to know how many technical features smartphones have in them. People are keen to know how that one phone can make their life simpler.

Similarly, by engaging your customers and providing solutions to their immediate problems through your content, you are building a relationship with them.

Focus on the quality of your content, and you will improve the reputation of your brand gradually. This will eventually foster your customer`s loyalty to it, and that is always good for your business.

2. Makes Audiences come back for more

An interesting fact or story told excitingly entices the reader and makes them come back for more, repeatedly. Be it your website, social media pages, or any other digital media platform, brilliant content always helps! Providing your audiences with quality, engaging, and informative content can give your potential customers a positive experience.

This positive experience can reinforce their perception of your brand and they will keep coming back to consume more of your content.

3. Helps to build a brand authority

Publishing quality content showcases your expertise in your field. Whether you are writing an article, blog posts, infographics, podcasts, or any other type of content to give your audiences solutions to their problems, you are positioning yourself as an expert worth their attention.

Audiences tend to remember the brand and businesses that give them the information they desired. Once your authority is established online, higher rankings on search engines for your website will likely follow.

4. Helps to generate leads

One of the primary goals for any business is to generate revenue. Revenue comes from sales. And sales are possible only with quality leads. An effective content marketing strategy helps to generate useful information for free.

With the help of content marketing, people will be able to find you and your products easily. You can place catchy taglines, titles, and calls-to-action (CTAs) that will help get people to give your business the much-needed leads. This will bring potential customers to your website and will result in leads and more sales.

5. Boosts Conversions

When all is said and done, we come down to conversions. To run a business successfully, it is essential to make money. This becomes only possible with conversions.

Today, customers are fed up with all the ads that businesses are trying to feed the social media platforms every second. Hence, traditional commercials will not get you the desired results for your business.

Content Marketing on the other hand can help you inform your customers with useful information that will attract them and build their trust over time. Once that trust is established between you and your customer, it will be easier for your audience to make a purchasing decision.

Content marketing is an integral part of your Digital Marketing. Hence, it is very essential to plan out an effective strategy and consider whatever you spend on it as an investment that will bring fruitful results.

You can also learn how to grow your business with problem-solving courses to attract more customers. These courses come with more than 300+ templates that can help each one of you to take your business a notch higher. Want to know more about these courses? Click here: https://www.badabusiness.com/psc?ref_code=ArticlesLeads

 

 

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E-Commerce Marketing Sales Startup

Lead Generation Tips: 3 Proven Strategies that will grow your leads, Certainly!

If there is one thing that can make or mar your business, it is – leads. Without leads, your business will gradually and then eventually fail. Certainly, organizations have multiple goals, but a large percentage of organizational goals are focused on lead generation.

How you define the term ‘conversion’ is your call. But regardless of its definition, on average and across every industry, the lead conversion rates are alarming. Data provided by Statista showed that the e-commerce sales conversion rates in the first quarter of 2018 were as low as 1.79% for website visits on mobile phones.

Leads are those qualified prospects who can become customers and the ambassadors of your brand if you play your cards perfectly. Every marketer, particularly B2C marketers try to generate leads from various platforms and to boost their conversion rate.

But often, these channels do not yield the desired results. If you have spent a lot of time creating content to generate the right leads, but are still not getting any results, then do not get disheartened, as you are not alone.

According to HubSpot`s statistics, 54% more leads are generated inbound tactics as compared to traditional paid marketing.

So what could be the starting point of understanding and discovering the assured path that will lead you to success? Perhaps, understanding your customer! What does your potential customer want? Once you have a clear and crisp answer and can tie it up to a high-converting landing page, you will generate leads, guaranteed.

Another factor that you must focus on is to give priority to creating the right content. Once you have a committed mindset and approach, you can implement these 5 lead generation tips to boost your leads faster:

1. Review your Homepage

As lead generation starts from home, reviewing your website homepage is a brilliant idea. Most marketers receive visitors on their homepage. And since, the homepage receives a large amount of traffic, would not it be a good idea to review and adjust your homepage?

Adding a powerful CTA (call-to-action) with other elements such as headlines, subtitles, and images can increase lead generation by up to 50 percent. Also, if you have a new offer always ensure that you have mentioned it on your landing page. And the two are in sync.

2. Share links to your webinars in your content

One of the best tips you can implement in your marketing strategy is how a webinar can brilliantly in your favor. A webinar is a low-cost way to get your message directly across your target audience, who asked for it when they signed up.

If you can host a webinar and link it directly to your content, your leads will take you more seriously due to the value you have provided to your audience through a webinar. This will help to build trust and credibility between you and your customers.

When people are engaged, the magic begins to happen. Engagement is the only purpose of hosting a webinar. And if you want to take your lead generation to the next level, you must consider hosting a webinar. You can generate leads, nurture them and build a successful business.

3. Separate your Lead Generation Team from Sales Team

If you want to convert the visitors who visit your landing page, you need to keep testing your landing pages including subtitles, headline, bullet points, CTAs, and more. And when it comes to lead nurturing, you have got to keep the lead generation team and sales team separate.

Lead generation is the process of stimulating and capturing the interest of the audience in a particular service or product to develop sales in the pipeline.

On the other hand, the sales team is primarily concerned more with the business with the exchange of goods and services for money. Their focus is on selling more.

Always, remember that the objective of keeping the two teams separate is that one team will be responsible for lead generation, and sales are to improve your customer satisfaction.

Strategies are not some magical push-up buttons, but they have been proven to work if implemented successfully. Real satisfaction comes from the things you learn in the process of applying these proven lead generation tips.

Want to learn more about lead generation and smart tips to increase them? With our Everything about Entrepreneurship course, you can gain in-depth knowledge of sales. To know more, click here: https://www.badabusiness.com/?ref_code=ArticlesLeads

 

 

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Technology

SMBs in India Get Major Boost As AWS Launches ‘Amazon Digital Suite’ To Help Businesses Overcome Challenges of Technology Adoption

onlline business

New Delhi, April 19: With an aim to boost the startup ecosystem in India, Amazon Web Services (AWS), the Cloud arm of Amazon has launched a curated set of software solutions aimed at empowering the SMBs in the country. The initiative will help to digitise 10 million Indian small and medium businesses (SMBs) by 2025. Touted as ‘Amazon Digital Suite’, it provides a broad selection of business software focused on SMBs from seven AWS Partner Network (APN) Technology Partners in areas such as accounting, customer support, and human resources.

It must be noted that all Amazon Digital Suite software can be purchased individually with discounts of up to 75 per cent from the suggested retail prices, the AWS said in a statement. As per details by the company, the ‘Amazon Digital Suite’ is now available for purchase on amazon.in. Prices of the products that are part of the Amazon Digital Suite begin at as low as Rs 20.

Here’s how the ‘Amazon Digital Suite’ will help Indian SMBs:

  1. Puneet Chandok, President-Commercial Sales, AISPL, AWS India and South Asia said the Amazon Digital Suite brings the best of what AWS and Amazon offer as an affordable, simple-to-use, and value-driven package
  2. Customers purchasing the Amazon Digital Suite during the ‘Amazon Smbhav 2021′ event from April 15-23 will be eligible for discounts of up to 30 percent in the Amazon Digital Suite store.
  3. With the Amazon Digital Suite, SMBs can overcome the challenges of technology adoption, digitise their operations, innovate in their business, accelerate their growth, and help India prosper.
  4. The Amazon Digital Suite comprises various solutions from Razorpay, Freshworks, greytHR, ClearTax, Zoho, Vinculum and OkCredit.

Vedanarayanan Vedantham, Head – SME Business, Razorpay said that the launch of the Amazon Digital Suite will be a game changer; it will empower millions of SMBs of any size, and make it possible for them to reach new customers around the world.

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MSME

MSME Sector will Battle Ongoing COVID-19 Wave with Conviction & Lead India to Positive Growth Trajectory, Says Union Minister Nitin Gadkari

Nitin Gadkari (Photo Credits: Facebook)

Union MSME Minister Nitin Gadkari has said that he is confident that the firms in the micro, small and medium sector will fight the second wave of coronavirus pandemic with conviction, leading the country to a positive growth trajectory. Gadkari also added that the MSME sector battled the first wave of COVID-19 outbreak with great resilience and came out with strong growth projections.” MSMEs in India: Govt Aims To Raise MSME Sector’s Share in GDP to 40% From the Current 30% To Benefit Rural Poor, Says Nitin Gadkari.

Union MSME Minister said, “As a country, we battled the first wave of COVID-19 with great resilience and came out with strong growth projections. And I’m confident in the ability of the industry and MSME sector to battle the ongoing wave with similar conviction and lead India to a positive growth trajectory.” MSME Sector in India Has Huge Potential To Become World’s Largest Manufacturing Hub, Says Nitin Gadkari.

While addressing an event organised by the Amazon India, Nitin Gadkari said that the Indian MSMEs have a great opportunity of getting integrated with the global supply chain as various countries across the globe are looking to diversify their supply chain out of China.

He added that to enhance the competitiveness of the Indian MSMEs, both on national and global level, technology is a critical factor. “We need to ensure that digital transformation of India’s MSME sector takes place that enables them to capitalise on India’s current opportunity,” said Union MSME Minister Nitin Gadkari.

In May last year, amid the coronavirus pandemic, the government had introduced an Emergency Credit Line Guarantee Scheme, to help the struggling MSMEs back on their feet. This scheme was a part of the Rs 20 lakh crore package that was brought forward and executed by our finance minister Nirmala Sitharaman to repair the damage that has been done to this sector in the light of COVID-19.

Nitin Gadkari had earlier said that contribution of the Micro, Small and Medium Enterprise sector in the overall Indian economy, the coming years, will be enhanced to 40 per cent. Currently the firms in the Micro, Small and Medium sector contributes around 30 per cent in the overall gross domestic product in the country. Nitin Gadkari added that the works to increase export from the firms in MSME sector are in progress.

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Business motivation

15 Powerful Quotes by Michelle Obama That Will Inspire & Motivate Every Female Entrepreneur

Michelle Obama (Photo Credits: Facebook)
Michelle Obama (Photo Credits: Facebook)

The world is progressively evolving with more and more powerful women taking the centre stage and leading by example. One of the such remarkable and strong women is Michelle Obama. Born in an African-American household in US’s Chicago, Michelle went on attending the Harvard law School, after studying sociology and African American studies at Princeton University. She also made huge contribution towards the development of the society. 10 Inspiring Books Every Female Entrepreneur Should Read to be Successful.

Michelle stood rock strong behind her husband Barack Obama during his presidential campaign and two-tenures in the office.As the first lady of the USA, Michelle she lead various campaigns to support the military families and ending childhood obesity in the country. In an effort to promote healthy eating, Michelle also planted a vegetable garden on the South Lawn of the White House in 2009. Michelle Obama remains to be a source of inspiration to various women across the globe. Women in Business: 5 Tips for Female Entrepreneurs to Establish Successful Start-Ups.

Here Are Some Powerful Quotes By Michelle Obama That Will Inspire Every Women Entrepreneur:

“We need to do a better job of putting ourselves higher on our own ‘to do’ list.”

“One of the lessons that I grew up with was to always stay true to yourself and never let what somebody else says distract you from your goals.”

“Friendships between women, as any woman will tell you, are built of a thousand small kindnesses… swapped back and forth and over again.”

“When somebody walks up to me, don’t look around, don’t look beyond them. Look them in the eye, take in the story.”

“Strong men, strong men, men who are truly role models, don’t need to put down women to make themselves feel powerful.”

“The difference between a broken community and a thriving one is the presence of women who are valued.”

“If there’s one thing I’ve learned in life, it’s the power of using your voice.”

“You should never view your challenges as a disadvantage. Instead, it’s important for you to understand that your experience facing and overcoming adversity is actually one of your biggest advantages.”

“Every day, you have the power to choose our better history — by opening your hearts and minds, by speaking up for what you know is right.”

“Instead of letting your hardships and failures discourage or exhaust you, let them inspire you. Let them make you even hungrier to succeed.”

“You have to fill your bucket with positive energy—and if you have people hanging around you that are bringing you down and not lifting you up, whether that’s your ‘boo’ or your best friend—you have to learn how to push these people to the side.”

“No country can ever truly flourish if it stifles the potential of its women and deprives itself of the contributions of half its citizens.”

“I am an example of what is possible when girls from the very beginning of their lives are loved and nurtured by people around them.”

“When someone is cruel or acts like a bully, you don’t stoop to their level. No, our motto is, when they go low, we go high.”

“Your story is what you have, what you will always have. It is something to own.”

Women are proving their metal in every field. They are standing head to head with the men and giving a stiff competition in the business world as well. Like any other spectrum, the businesses have been dominated by the male members of the society for a very long time. Even today, most of the top ranking posts in various companies and organisations are held by the men only. However, little by little things are changing with more and more women starting their own businesses, surviving the market and succeeding.

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MSME

Emergency Credit Line Guarantee Scheme 2.0 Now Extended to SMA-1 Borrowers

ECLGS Now Applicable to SMA-1 | Representational Image
ECLGS Now Applicable to SMA-1 | Representational Image

The Department of Financial Services said in a tweet that the scope of Emergency Credit Line Guarantee Scheme (ECLGS) 2.0 has now been extended to cover the Special Mention Accounts- 1 (SMA). The DFS took to Twitter and wrote, “Scope of ECLGS 2.0 expanded! SMA-1 borrowers in the healthcare sector and 26 other high stress sectors (as identified by the Kamath Committee) are now eligible under ECLGS 2.0.” The Emergency Credit Line Guarantee Scheme 2.0 was launched by the government to help the business, especially firms in the micro, small and medium sector in wake of coronavirus pandemic last year. Emergency Credit Line Guarantee Scheme: What is ECLGS? Are You Eligible? Know All About It.

The scheme comprises all micro, small and medium borrowers accounts with combined outstanding loans across all MLIs (member lending institution) of up to Rs 50 crore in any sector and up to Rs 500 crore in respect of borrowers in the hospitality sector, travel and tourism sector and leisure and sporting sector and classified as regular, Special Mention Accounts-0 or Special Mention Accounts-1 as on February 29, 2020, according to the scheme’s website. MSME Credit Moves Towards Pre-Pandemic Levels, Witnesses a Growth of 5.7%: Report.

The Special Mention Accounts (SMA) are those which are exhibiting signs of incipient stress resulting in the borrowers defaulting in timely servicing of their debt and borrowing obligations, though the accounts have not yet been classified as Non Performing Assets (NPAs) according to the guidelines issued by the Reserve Bank of India. In the case of Special Mention Accounts-1, the overdue period is between 31 to 60 days.

The amount of Emergency Credit line to be extended to Business Enterprises or the firms in the micro, small and medium enterprises would be upto 20 per cent of total outstanding as on Feb 29,2020. The interest rate charged on such borrowing is capped at 9.25 per cent for banks and 14 per cent for the Non-Banking Financial Corporations (NBFCs). It has a maximum tenure of four years from the date of disbursement and the moratorium period on the principle amount is 12 months.

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Business motivation Technology

Indian Startups Get Major Boost As Amazon India Rolls Out $250 Mn ‘Amazon Smbhav Venture Fund’ To Invest in Technology-Led Startups

startup ipo india

New Delhi, April 15: With a view to encourage the startup ecosystem in India, e-commerce major Amazon on Thursday announced a $250 million fund to help businesses grow and achieve new heights. Amazon India launched the ‘Amazon Smbhav Venture Fund’ which it would invest in startups and entrepreneurs focusing on technology innovations in SMB digitisation, agriculture and healthcare. According to reports, the fund was announced in the opening session of Amazon India’s flagship event Smbhav.

Here’s how the ‘Amazon Smbhav Venture Fund’ would benefit startups in India:

  1. Amazon India said that the venture fund will invest in technology-led startups that are passionate about unlocking possibilities of a digital India.
  2. 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.
  3. Moreover, Amazon announced plans to digitally empower and bring 1 million offline retailers and neighbourhood stores online, on the Amazon India marketplace, by 2025 through the ‘Local Shops on Amazon’ programme.
  4. The launch of the Amazon Smbhav Venture Fund aims to attract best ideas and empower entrepreneurs in the country to partner in this vision.

Amazon also launched the ‘Spotlight North East’ initiative at the same event 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.

Amit Agarwal, Global Senior VP and Country Head, Amazon India said in his address that in the year 2020, the firm pledged to digitise 10 million SMBs, enable $10 billion in exports, and create 1 million jobs by 2025. “Through our initiatives, we 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 the PM”, he said. “Additionally, our initiatives to onboard 1 million offline shops on Amazon.in and digitally empower the northeast region will accelerate the progress towards a digital and self-reliant India,” he added.