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Target India, the Indian operations of the US-based retailer, has launched the third round of its accelerator programme in a bid to find innovative technology solutions in retail, with the help of five start-ups.
The latest batch includes three internal teams in addition to the five external start-ups. The initiative is aimed at providing team members a platform to test and learn faster. The programme has also evolved to strengthen the innovation capabilities at Target.
Minneapolis-based Target Corporation has given 5 per cent of its profit to communities since 1946, which equals more than $4 million a week. At Target Corporation India, more than 2,300 team members support Target’s global strategy across business areas.
Announcing the third batch of the Target Accelerator Program (TAP), the five start-ups namely, Findmeashoe.com, TimeFlex, BugClipper, Discover Dollar, and House of Blue Beans, would be developing disruptive ideas that are relevant to the retail industry.
The four-month immersive programme is aimed at focussing on themes such as merchandising, digital marketing, omni-channel, mobile, supply chain, and analytics technology, along with areas such as finance that are core to retail technology.
As Navneet Kapoor, Managing Director, Target India noted, engaging with the start-up ecosystem provides access to innovative ideas and a newer talent pool that helps the firm advance in its innovation journey.
"The evolution in scope reflects the breadth of ideas being explored within the organisation and externally. Our teams and the start-ups have a great opportunity to develop their ideas and co-learn through this initiative," he said in a statement.
Target extensively reviewed several start-up applications and conducted a competitive evaluation internally to finalise the third batch. Of the five start-ups, while Findmeashoe.com helps find the right footwear through virtual shopping, TimeFlex provides cloud-based monitoring for micro environments. BugClipper reports bugs and shares feedback through screenshots and screen recordings, while the House of Blue Beans provides best-in class 3D product visualisations, and Discover Dollar’s revolutionary technology stops leakages and overpayments.
The third batch would be run out of a specially designed hub at Target India’s office in Manyata Tech Park, Bengaluru. The teams will have access to a pool of industry’s best mentors and retail insights from Target leaders.
Target’s International Giving Programme focuses on creating accessible, quality educational opportunities for children and youth in many of the countries where Target has offices, including India.
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