Target selects 6 startups in India for its accelerator programme
The six startups selected under Target's accelerator programme have expertise in technologies such as AI, 3D and AR.
Target, the Minneapolis-based retailer operating more than 1,800 stores in the US and has been running its startup accelerator programme in India since 2013, has selected six startups for its sixth batch.
The selected startups will be part of a four-month programme focused on transformative and technology-driven ideas to create solutions for the rapidly changing retail environment, the company said in a release.
The startups selected will work on developing customised retail solutions using emerging technologies such as artificial intelligence, machine learning, computer vision, natural language processing and analytics. These startups will have access to Target mentors, tools, resources and operational support – as well as workspace at Target’s Bengaluru offices. During the four-month programme, startups are given the opportunity to implement their solutions in real-world scenarios and measure the results in real time.
The six selected startups are Kenome, Point105-AR, Quilt.ai, Moodboard, Eder.ai and StyleDod. These startups have expertise in the areas such as artificial intelligence, 3D technologies and blockchain. Point105-AR provides a holistic 3D asset management solution for augmented reality experiences while StyleDod has a tool that automatically converts floorplans into 3D designed rooms, fully furnished with merchandisable products.
Rakesh Mishra, Vice President, Marketing, Target India, said, “Over the past couple of years, India has become a superpower driving innovation in the retail sector across the globe. Target’s experience with startups in our accelerator programme over the past five years has been a journey of continuous learning, sharing and growth.”
The Target Accelerator Program, which was launched in December 2013, gives startups a platform to develop, scale and test their products in a live retail environment. To date, 30 startups have graduated from the programme and worked with Target teams across stores, marketing, finance, legal, merchandising, mobile and digital.
Target also has a technology development centre in Bengaluru with more than 2,600 employees. The India centre works in areas such as technology, marketing, human resources, finance, merchandising, supply chain, property development, analytics and reporting.