Target is finally launching its Accelerator Program for Indian startups with five companies that can help the retailer test and build technology solutions across 3D imaging, mobility, personalized search and social media conversations with customers. The Minneapolis-based retailer has been facing heat recently because of a large data breach last year, and had to delay the launch of its accelerator by a month.
It’s not just Microsoft Ventures that wants to nurture Indian startups. Now the American retailer Target is rolling out its own accelerator program for early-stage startups in India. The new Target Accelerator Program is not the same as Microsoft Ventures, which purely aims at helping teams strengthen their product and taking them to the next level of business. Target’s program is designed to help early-stage startups develop concepts that the company could use to improve its own retail and online business. Though the concept looks interesting, it’s not so clear what advantage a startup gets – aside from possible funding – from Target’s new program. Nonetheless, the choice of location is a vote of confidence in the technical abilities of Indian entrepreneurs.