Target to launch retail technology accelerator next year

US retailer Target is ramping up its innovation agenda with plans to launch a retail technology accelerator in 2016.

Teaming up with Techstars, a global start-up accelerator, the business will put out a call for papers later this year to tech-based start-ups looking to bring their solutions to the retail space. The accelerator will be looking for companies specialising in areas ranging from supply chain to data analytics, as well as organisations offering new ways to integrate digital and in-store experiences.

The retail accelerator is set to by unveiled next year in Minneapolis, where Target is headquartered.

Casey Carl, Target's chief strategy and innovation officer, commented: "We know that technology will continue to revolutionise retail, and that Target's future will be built on innovation.

"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."

Reminiscent of John Lewis' JLAB in the UK, start-ups accepted into the programme will be offered investment capital and mentor support from Target executives, as well as access to Techstars' network of entrepreneurs and partners.

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