Posted by Amazon India
Amazon India announced its partnership with Ketto, a well-renowned crowdfunding platform to launch ‘Amazon Wings’ for its sellers. Reiterating its commitment to empower small businesses and entrepreneurs, Amazon Wings will enable Amazon.in sellers to use Ketto’s platform for launching crowdfunding campaigns to raise funds for their business expansion, new product development and innovation or community development.
Gopal Pillai, Vice President, Seller Services, Amazon India said, “India has a huge and thriving base of SMEs in the country but the availability of funds is one of the major barriers for their business growth and innovation. With the launch of “Amazon Wings” program, we are delighted to partner with Ketto to find a way to enable sellers to raise funds and foster innovation and new product development. We remain committed to working seller-backwards and continuously look for ways to enable & empower the small business ecosystem on our marketplace”.
This program will enable Amazon India sellers to use Ketto’s platform at a subsidized fee for initiating fundraisers. Amazon India has partnered with Ketto to launch a dedicated microsite to feature these fundraisers initiated by sellers. This program will enable sellers to raise small ticket funds starting from as little as INR 50,000 by means of crowdfunding from multiple individuals. Amazon sellers can apply to Ketto for fundraisers in various categories such as business development, innovation, business expansion or community development. Amazon will solicit interest from sellers to apply to Ketto for participation in the program. The applications will then be shortlisted by Ketto on the basis of the seller story, the purpose for fundraiser and the goal amount. Once shortlisted, a team of experts from Ketto will guide the sellers from the ideation stage to the final launch of the campaign. Once the fundraiser is launched, the shortlisted sellers will be able to promote it in their social circle. Additionally, Amazon, along with Ketto, will also be actively promoting the microsite through email and social media marketing in order to make them successful.
“Ketto is thrilled to partner with Amazon India to help entrepreneurs and small businesses raise funds in a quick, convenient and secure way. Crowdfunding can definitely play a pivotal role in helping entrepreneurs, especially businesses that foster either social impact or practical innovation,” says Zaheer Adenwala, Co-founder and CTO at Ketto. “We are excited about the Amazon Wings initiative, as it allows us to reach out to a community of verified small businesses with genuine needs towards business expansion and innovation.”
Amazon Wings will encourage entrepreneurs to pioneer innovative product development and promote community upliftment. Business objectives such as encouraging unique product development ideas and contributing to the society through such initiatives will provide a boost to Amazon sellers for improving the quality of life across the ecosystem surrounding them.―TV Veopar Journal Bureau