Target, the American retail major, is extending its startup accelerator program in India owing to the success, which that the program has witnessed so far. The 5th batch, which is just commencing, will witness 8 business ventures being speed up. Earlier batches contained 5 to 7 business ventures. The program, operated by Techstars, the entrepreneur network, was commenced in 2014. It was the first such program in global operations by Target.
Some of the products designed by business ventures in the program have turned out to be a part of website features of Target. Some firms have turned out to be merchants to Target, whereas some have taken funding from the firm. This information was given by Rakesh Mishra, Executive Sponsor of the accelerator program, to the media in an interview.
A few startups have made it to the U.S. accelerator program of Target, where they will have additional hands on experience with users, he claimed to the media in an interview. He further added that the India program has witnessed 22 firms modify so far and the firm has current relationships with several of these business ventures.
The startup House of Blue Beans based in Bengaluru has been involved in Target designing its Shoppable Room goods. It assists customers of Target to visualize the products of the retail giant in the user’s own room. The product from StoryXpress assists turn various product pics into a product video and has been accepted by Target.com.
“The Indian business ventures have been involved in us giving enhanced user experience in the U.S. Our consent is to look for more pioneering ideas that fit into our commerce. We want to impose those products and ideas that will assist overpass the gap between the digital and physical experience,” Mishra claimed to the media in an interview. Target operates with these business ventures for 4 Months by offering them mentorship and enhancing the product via more than a few iterations. Charmboard has also taken funding from Target.
In an attempt to contend with Walmart and Amazon’s online presence, Target is extending its online presence and the India pacers are assisting for that. Target also has a huge technology research and development center in Bengaluru that operates across all the tasks of the technology by the retail giant, comprising its back-end.
Amongst the 8 selected business ventures are Hyperworks, Cogknit, Cognitifai, Moonraft, vPhrase, Light Information Systems, Jumper.ai, and Streamoid.