Earlier in 2014, Target partnered with Fast Company on a “Retail Accelerator Challenge”, whereby developers competed to propose a new mobile experience for Target. However, this is the first time that the company has invested in an accelerator in this way.
The selected startups will join a four-month programme held at Target’s office in the Manyata Tech Park, Bangalore. Target is looking for transformative ideas across five key themes: search, personalisation, data, social and mobile.
Tech veteran, Lalit Ahuja, will manage the accelerator program. Ahuja is senior strategic advisor for Target India and co-founder of the accelerator Kyron Management Services.
The five startups selected for Target’s accelerator are:
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Instaclique – Social media management for customer engagement.
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Konotor – In-app two-way communication for existing apps in both iOS and Android.
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muHive – An online workflow management tool.
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Turnaround – This automates the generation of rotating 3D images through a turntable and image-processing combo.
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Unbxd – Makes the SmartEngage platform for search personalization in product recommendations, web landing pages, and web navigation.
Navneet Kapoor, Target India’s president and general manager, said: “Innovation is core to Target’s culture and we believe great ideas can come from anywhere. We are excited to invest in our first accelerator program and are thrilled to be a part of the India start-up ecosystem. We trust that these start-ups will help spur innovative solutions that will ultimately benefit our guests.”