E-commerce giant Amazon on today announced a USD 250 million fund which will focus on digitising small and medium businesses, for 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.
Amazon wants to help inspire more SMBs to be able to build brand new businesses.
“The fund is going to focus on three key priorities – SME digitisation, agri-tech innovations to empower farmer productivity and reach, and health-tech to provide universal and quality health care for citizens,” said Amazon India Global SVP and Country Head India Amit Agarwal .