Target has tapped start-up incubator Techstars to help foment retail innovation in its hometown of Minneapolis.
The No. 2 discount chain said it will put out a call later this year to tech-based start-ups that can bring outside-the-box approaches to such retail functions as supply chain and data analytics, and can find new ways to integrate the digital and in-store experiences.
“We know that technology will continue to revolutionize retail and that Target’s future will be built on innovation,” said Casey Carl, the chain’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.”
Techstars, based in Boulder, Colo., nurtures innovation through three-month-long “accelerator” programs designed to bring start-ups together with mentors, investors, talent and corporate partners.
Companies accepted into the Target program will be offered investment capital, guidance from Target execs, and access to Techstars’ network of entrepreneurs, investors and advisors, the retailer said.