US retail giant Target this week announced the launch of the sixth edition of their accelerator programme in India. The startups selected here would be a part of a four-month programme focused on transformative and technology-driven ideas to create solutions for the rapidly changing retail environment.
This year’s six participants are:
- Eder.ai: This startup offers a distributed computing platform with Blockchain-grade encryption.
- Kenome: A startup which uses AI to make sense of dark data using deep learning, and natural language processing.
- Moodboard: This startup provides AI-based tools to provide insights on product performance trends that aid in future product design.
- Point105-AR: This startup provides 3D asset management solutions for augmented reality experiences.
- Quilt.ai: The company uses AI tools to build a large research and action-based platforms.
- StyleDod: Provides tools that automatically convert floorplans into 3D designed rooms, fully-furnished with merchandisable products.
Target’s Accelerator Program is designed to help innovative startups develop concepts that could improve Target’s business and the broader retail industry. They also want to tap into the startup ecosystem in India and provide them with a unique opportunity to work with the Target’s leadership team in a specially-designed space at Target India’s office in Bengaluru.
Startups which have been selected for the programme get several opportunities such as mentorship by Target leaders, top entrepreneurs, investors, academicians, pioneers from the retail industry and global experts in technology and design. Apart from this, the programme website listed several other advantages:
- Funding: Target may provide funding during the program. Startups will have an opportunity to pitch to Target and other potential investors at the conclusion of the program.
- Thought leadership and assistance for all selected companies in enterprise business areas including Finance, Legal, HR, Marketing and IT Services.
- Credits through partners such as AWS, Microsoft, UpGrad etc.
- Industry insights: From Target’s omnichannel business.
- Customer validation/pilot: Target may select some companies for customer validation or pilot opportunities.
Rakesh Mishra, vice president of Marketing at Target India, told a newswire, “Over the last couple of years, India has become a superpower driving innovation in the retail sector across the globe.”
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Prajakta is a Writer/Editor/Social Media diva. Lover of all that is 'quaint', her favourite things include dogs, Starbucks, butter popcorn, Jane Austen novels and neo-noir films. She has previously worked for HuffPost, CNN IBN, The Indian Express and Bose.