Future Group sets up Rs 100-crore accelerator fund, launches Future C&D Lab in Bengaluru
The Future Group has launched a Future Consumer and Digital (C&D) Lab in Bengaluru that will focus on the consumer and digital space to bring in next-generation innovations using Artificial Intelligence, Big Data Analytics, Blockchains, Internet of Things, Robotics, and allied technologies.
If you are a startup working in these areas, then the Future Group will love to work with you as your primary customer and support your growth with infrastructure and funding.
Speaking to YourStory, Kishore Biyani, Founder and Group CEO of Future Group, said,
"We want to collaborate with Indian companies in developing the next-generation of technologies in the consumer space. We have data on over 30 million loyal customers and the infrastructure to prototype new products and ideas. We are looking to partner with founders who are ambitious to create game-changing businesses leveraging these capabilities."
The C&D Lab brings together multiple teams and companies that are working in these areas, housed in a common, collaborative space set up by the Future Group in Bengaluru. These teams and businesses will have ready access to test, experiment, and prototype their technologies across Future Group’s brand and retail platforms that serve over a million customers every day.
The research and development activities are being supported through a Rs 100-crore Accelerator Fund that is being set up to fund the operations, technology development, and IPR creation by the teams working at The Lab. Vivek Biyani, Director of Future Group, is leading this initiative.
The Lab is pursuing technology developments that will influence consumer experiences in areas such as payments, unique consumer identification, and development of one-on-one consumer conversations, analytics, and predictive modeling as well as in back-end functions such as supplier engagements, supply chain automation, and infrastructure deployment.
The Lab features a multi-disciplinary team composed of technologists, engineers, data scientists, designers, and consumer specialists. It will also be running hackathons and open workshops that allow continuous learning, collaboration, and exchange of skills. It's a place for startups to build without worrying about the many challenges of early stage existence. The first being, getting a potential customer to prototype their offering.