A Memorandum of Understanding has been signed between the NIF Incubation and Entrepreneurship Council (NIFientreC), a Technology Business Incubator (TBI) hosted by National Innovation Foundation (NIF), an autonomous institute of the Department of Science and Technology (DST), and Amazon India today for online distribution of the product of grassroots innovations, innovations based on student creativity and market-ready products based on outstanding traditional knowledge, the ministry informed.
According to the ministry, NIFientreC was established in 2015 with financial support from the DST for the incubation and commercialization of technological ideas and innovations from local innovators, outstanding traditional knowledge holders and students across the country. country.
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This MoU between Amazon and NIFientreC comes just days after India’s Prime Minister declared January 16, 2022 as National Startup Day and announced that the current decade would be India’s ‘techade’. to bring start-up culture to the most remote parts of the country, the ministry said.
According to the ministry, the MoU signed by Er Rakesh Maheshwari, Executive Director, NIFientreC, and Shri Sumit Sahay, Director, Amazon Seller Services Private Limited (ASSPL), will help boost the commercial dissemination of innovative products from local startups and stimulate the Indian startup. online culture with these ads.
Speaking on the occasion, Dr. Gulshan Rai, Chairman of NIFientreC said, “With the rapid digital transformation currently taking place in the country, there couldn’t be a better time for local entrepreneurs to consider offering their innovations directly to consumers. all over India.”
Manish Tiwary, VP of Amazon India, said the partnership with NIFientreC aims to bring the benefits of digitalization and e-commerce to entrepreneurs and grassroots entrepreneurs and take student innovations from rural areas forward for sale. to millions of Amazon customers in India. and across the world.
“This is a milestone in India’s innovation and entrepreneurship ecosystem, and grassroots innovators will be closer to the consumer than ever before. This is a paradigm of inclusivity that the rest of the world may wish to replicate,” said Dr. Vipin Kumar, Director, NIF.
The MoU will accelerate the delivery of grassroots innovations to the country’s citizens, boosting the local economy and creating livelihoods. It will enable innovators from the deepest pockets of the country to leverage the benefits of inclusive e-commerce.
Although the product offerings of traditional entrepreneurs and those offered by start-ups that have become unicorns are not new, the MoU will bring innovations that are underway in rural parts of the country and stem from the wisdom of people. ordinary, universally available. Consumers will benefit from greater choice, and since these innovations originate in meeting an unmet need in a particular locality, they can begin a journey towards providing inclusive innovations to society and the world at large. .
After the successful onboarding of these companies, Amazon will also create a showcase to boost the discoverability of these rural innovations among customers, the ministry said.
He further stated that further, through this MoU, NIFientreC and Amazon would regularly provide capacity building to grassroots innovators through masterclasses, workshops and other interactive training programs by engaging industry and domain experts so they can move forward in the startup. movement of the country at the same level as the rest of the nation.
They will be periodically trained on the fundamental aspects of being a successful e-commerce participant so that once onboarded, they can be self-sufficient, create visibility for their products, generate and respond to demand to make them reach even at the last mile, the ministry said.
The MoU signing ceremony was followed by a workshop for NIFientreC-supported grassroots innovators and entrepreneurs with trainers from Amazon so that they could learn about useful contemporary e-commerce concepts and follow the evolution distribution mechanisms, he added.