On an average it takes six weeks and $10,000 to create a motion picture promotional video. What if you could create a video every 15 minutes at a fraction of the cost? This was one of the many innovative ideas presented at the recently concluded Target Accelerator Program’s Demo Day in Bangalore in which seven startups Preksh, MintM, Uncanny Vision, Lechal, Lawbot, Charmboard and Story Xpress, pitched ideas in areas like digital marketing, Internet of Things (IoT), Artificial Intelligence (AR) and Virtual Reality (VR).
This startup program from US-based Target Corporation gives Indian startups a platform to develop, scale and test their products in a live retail environment. According to Target, the graduating startups tested their products across Target stores and its digital channels. The program also provides a platform for Target team members to create compelling solutions. This batch included two internal ideas that were developed alongside the startups.
“Through our accelerator journey over the last three years, we have seen the Indian startup ecosystem mature and are thrilled to see them address deeper and more relevant business problems. We remain invested in partnering with the startups to shape the future of retail,” said Navneet Kapoor, president and managing director of Target’s office in India.
The Demo Day comes on the heels of a similar retailer accelerator at Target’s US headquarters in Minneapolis, which was run in conjunction with Techstars. The accelerator programs are being used as a springboard for Target to become more engaged with the startup ecosystem.
The Target team in India recently partnered with late-stage startups to provide solutions for other business needs. Like, UpGrad is providing online trainings for team members and startups to upskill on-the-job, and Blue Birch is solving reverse logistics problems through sustainable solutions for old laptops, phones and workstations.
With a portfolio of 22 startups, the fifth batch of the Target Accelerator Program is slated to launch later this year.