Target (NYSE:TGT) has teamed up with Techstars to launch a retail accelerator program focused on inviting innovative entrepreneurs to its Minneapolis headquarters. The program hopes to generate new technologies in the retail industry intended to improve the shopping experience.
Target and Techstars, a well-known start-up accelerator, will put out the call later this year to lure in innovations in multiple sectors—from supply chain to data analytics—that influence both physical and online shopping, according to A Bullseye View, Target's corporate blog.
"We know that technology will continue to revolutionize retail, and that Target's future will be built on innovation," said Casey Carl, Target's chief strategy and innovation officer. "That's why we're so excited to partner with Techstars and invite the world's most promising start-ups to work with Target right in our backyard."
Start-ups that make the program will be given investment capital and mentoring from Target executives and Techstars' network of partners.
Target has been pushing innovation and technology throughout its corporate mindset and in stores. For example, in July the company opened an interactive showroom for connected home devices in San Francisco. Target is amidst fierce competition from rival Walmart (NYSE:WMT), which earlier this summer set digital innovation as its No. 1 priority.
-See this A Bullseye View blog post
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