{"id":1363,"date":"2014-11-18T18:54:40","date_gmt":"2014-11-18T18:54:40","guid":{"rendered":"http:\/\/www.www.innovationiseverywhere.com\/?p=1363"},"modified":"2014-11-18T18:54:40","modified_gmt":"2014-11-18T18:54:40","slug":"target-accelerator-program-re-inventing-retail-digital-age","status":"publish","type":"post","link":"https:\/\/innovationiseverywhere.com\/fr\/target-accelerator-program-re-inventing-retail-digital-age\/","title":{"rendered":"Target Accelerator Program: re-inventing retail in the digital age"},"content":{"rendered":"<p>Let\u2019s continue to explore corporate innovation, with the<strong> <a title=\"TArget accelerator program\" href=\"https:\/\/corporate.target.com\/discover\/article\/Target-launches-accelerator-program-in-India\" target=\"_blank\" rel=\"noopener\">Target Accelerator Program<\/a> <\/strong>case study.<\/p>\n<p>We\u2019ve met \u201cboth sides of the table\u201d when visiting Bangalore\u2019s top tech conference NASSCOM Product Conclave a few weeks ago, talking both with the teams of Target, and with Kyron, which operates their accelerator.<\/p>\n<p>For a quick introduction, <strong>Target is an American retailer, one of the largest in the world<\/strong>, with operations mostly in North America. Their challenge is dual, as they must <strong>catch up with world leader Wal-Mart<\/strong> (whose Labs will be the topic of another post), and <strong>avoid being squeezed by Amazon<\/strong>, which has similar revenues.<\/p>\n<p><a href=\"http:\/\/innovao.cluster030.hosting.ovh.net\/wp-content\/uploads\/2014\/11\/target-accelerator-program-india-bangalore-kyron-ahuja-ansr-consulting-corporate-innovation-acceleration-startups-retail-industry-walmart-amazon-martin-pasquier-innovation-is-everywhere-2-3.png\" target=\"_blank\" rel=\"noopener\"><img fetchpriority=\"high\" fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-1364\" src=\"http:\/\/innovao.cluster030.hosting.ovh.net\/wp-content\/uploads\/2014\/11\/target-accelerator-program-india-bangalore-kyron-ahuja-ansr-consulting-corporate-innovation-acceleration-startups-retail-industry-walmart-amazon-martin-pasquier-innovation-is-everywhere-2-3.png\" alt=\"target accelerator program india bangalore kyron ahuja ansr consulting corporate innovation acceleration startups retail industry walmart amazon martin pasquier innovation is everywhere 2\" width=\"475\" height=\"308\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/innovao.cluster030.hosting.ovh.net\/wp-content\/uploads\/2014\/11\/target-accelerator-program-india-bangalore-kyron-ahuja-ansr-consulting-corporate-innovation-acceleration-startups-retail-industry-walmart-amazon-martin-pasquier-innovation-is-everywhere-3-3.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-1365\" src=\"http:\/\/innovao.cluster030.hosting.ovh.net\/wp-content\/uploads\/2014\/11\/target-accelerator-program-india-bangalore-kyron-ahuja-ansr-consulting-corporate-innovation-acceleration-startups-retail-industry-walmart-amazon-martin-pasquier-innovation-is-everywhere-3-3.png\" alt=\"target accelerator program india bangalore kyron ahuja ansr consulting corporate innovation acceleration startups retail industry walmart amazon martin pasquier innovation is everywhere 3\" width=\"475\" height=\"309\" \/><\/a><\/p>\n<p>These two graphs will give you an idea of the situation \ud83d\ude09<\/p>\n<h2><\/h2>\n<h2>Target Accelerator Program: re-inventing retail in the digital age<\/h2>\n<p>More broadly, Target is a good symbol of what\u2019s happening to <strong>retail in the digital age<\/strong>. E-commerce, if still nascent, is bringing too many advantages to the shopper, as <a title=\"Ecommerce trends 2014 2015\" href=\"http:\/\/www.www.innovationiseverywhere.com\/future-e-commerce-trends-singapore-based-redmart-founder\/\" target=\"_blank\" rel=\"noopener\">we wrapped-up a few months ago<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-1366\" src=\"http:\/\/innovao.cluster030.hosting.ovh.net\/wp-content\/uploads\/2014\/11\/innovation-is-everywhere-echelon-singapore-2014-e-commerce-trends-future-convergence-amazon-apple-uber-facebook-beats-martin-pasquier-1-3.png\" alt=\"innovation-is-everywhere-echelon-singapore-2014-e-commerce-trends-future-convergence-amazon-apple-uber-facebook-beats-martin-pasquier-1\" width=\"640\" height=\"323\" \/><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li><strong>Prices<\/strong> are lower in e-commerce, as there\u2019s less space and staff needed to operate<\/li>\n<li><strong>Product range<\/strong> is higher (potentially infinite) with virtually no limitation from warehouses<\/li>\n<li><strong>Experience<\/strong> is better, with no queues, no heavy bags to carry, and tedious drives<\/li>\n<\/ul>\n<p>The Target Accelerator Program aims to drive innovation again, and<strong> tap into India\u2019s tech ecosystem,<\/strong> whose reputation is based primarily on the network of <strong>Indian Institute of Technology<\/strong> (IITs), a tradition of <strong>IT outsourcing<\/strong>, and a solid <strong>diaspora<\/strong> <strong>of techies<\/strong> with key positions in the US, from Vinod Khosla (Sun Microsystems) to Satya Nadella (Microsoft) or more recently Sundai Pichar (Google).<\/p>\n<p>The startups screened by Target benefit from <strong>$30,000 in funding and a 4-month acceleration operated by <a title=\"Kyron Accelerator\" href=\"http:\/\/kyron.me\/home.php\" target=\"_blank\" rel=\"noopener\">Kyron<\/a>,<\/strong> a global accelerator and seed fund, whose founder Lalit Ahuja is an Indian technology industry veteran (he\u2019s the CEO of <a title=\"ANSR Consulting\" href=\"http:\/\/ansrconsulting.com\/\" target=\"_blank\" rel=\"noopener\">ANSR Consulting<\/a>, the world leader for establishing Global Inhouse Centers, known as GIC).<\/p>\n<p><a href=\"http:\/\/innovao.cluster030.hosting.ovh.net\/wp-content\/uploads\/2014\/11\/target-accelerator-program-india-bangalore-kyron-ahuja-ansr-consulting-corporate-innovation-acceleration-startups-retail-industry-walmart-amazon-martin-pasquier-innovation-is-everywhere-1-3.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1367\" src=\"http:\/\/innovao.cluster030.hosting.ovh.net\/wp-content\/uploads\/2014\/11\/target-accelerator-program-india-bangalore-kyron-ahuja-ansr-consulting-corporate-innovation-acceleration-startups-retail-industry-walmart-amazon-martin-pasquier-innovation-is-everywhere-1-3.jpg\" alt=\"target accelerator program india bangalore kyron ahuja ansr consulting corporate innovation acceleration startups retail industry walmart amazon martin pasquier innovation is everywhere 1\" width=\"640\" height=\"349\" \/><\/a><\/p>\n<p>According to Vikram Ahuja, who works at the Innovation Labs at Kyron, <em>\u201cthe focus is on <strong>retail, in-house marketing, analytics and mobile<\/strong>. We work closely with Target to<strong> identify startups<\/strong> with innovative products and they work closely with Subject Matter Experts (SME&rsquo;s) from Target to understand how they can use technology to solve some of Target&rsquo;s most mission-critical problems\u201d.<\/em><\/p>\n<p>The <strong>first batch of 5 startups<\/strong> chosen for the acceleration offer a good idea of the diversity Target is looking for:<\/p>\n<ul>\n<li><a title=\"Turnaround Vision\" href=\"http:\/\/goturnaround.com\/\" target=\"_blank\" rel=\"noopener\">Turnaround Vision<\/a> uses <strong>3D modeling<\/strong> for a 360-degree product view<\/li>\n<li><a title=\"Konotor\" href=\"http:\/\/konotor.com\/\" target=\"_blank\" rel=\"noopener\">Konotor<\/a> helps set up a <strong>two-way messaging channe<\/strong>l between mobile users and brands<\/li>\n<li><a title=\"MuHive\" href=\"http:\/\/www.muhive.com\/\" target=\"_blank\" rel=\"noopener\">MuHive<\/a> is in the field of <strong>Social CRM<\/strong><\/li>\n<li><a title=\"Unbxd\" href=\"http:\/\/www.unbxd.com\/\" target=\"_blank\" rel=\"noopener\">Unbxd<\/a> offer a <strong>dashboard<\/strong> aggregating several data for merchandising<\/li>\n<li><a title=\"InstaClique\" href=\"http:\/\/instaclique.com\/\" target=\"_blank\" rel=\"noopener\">InstaClique<\/a> helps retailers lower their <strong>bounce rates<\/strong><\/li>\n<\/ul>\n<p><iframe src=\"\/\/www.youtube.com\/embed\/TztqnMpwTZ8\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>&nbsp;<\/p>\n<h2><\/h2>\n<h2>Corporate accelerators in India: climbing the outsourcing ladder<\/h2>\n<p>The fact Target chose Bangalore and India to setup its accelerator is also a sign of the <strong>adaptability of the Indian ecosystem to the new demand of global companies.<\/strong> After years of outsourcing IT and support functions, Indian companies such as ANSR Consulting are able to level up their game and provide outsourced innovation services.<\/p>\n<p>Vikram Ahuja shares how being embedded in Fortune 500 companies has helped them to offer corporate innovation: <em>\u00ab\u00a0This allows a unique opportunity to <strong>understand some of the most critical problems faced by large corporates<\/strong> and help connect with young startups that are disrupting domains of retail, media and financial services.\u201d<\/em><\/p>\n<p>Most of the speakers we saw at Bangalore\u2019s NPC had anyway one foot in the Silicon Valley, and the other one in Bangalore, and their go-getting attitude overseas has created more than a generation of successful Indian entrepreneurs, who are now in an amazing position for global companies.<\/p>\n<p><a href=\"http:\/\/innovao.cluster030.hosting.ovh.net\/wp-content\/uploads\/2014\/11\/target-accelerator-program-india-bangalore-kyron-ahuja-ansr-consulting-corporate-innovation-acceleration-startups-retail-industry-walmart-amazon-martin-pasquier-innovation-is-everywhere-5-3.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1368\" src=\"http:\/\/innovao.cluster030.hosting.ovh.net\/wp-content\/uploads\/2014\/11\/target-accelerator-program-india-bangalore-kyron-ahuja-ansr-consulting-corporate-innovation-acceleration-startups-retail-industry-walmart-amazon-martin-pasquier-innovation-is-everywhere-5-3.png\" alt=\"target accelerator program india bangalore kyron ahuja ansr consulting corporate innovation acceleration startups retail industry walmart amazon martin pasquier innovation is everywhere 5\" width=\"640\" height=\"352\" \/><\/a><\/p>\n<h2><\/h2>\n<h2>What\u2019s next for Target and Kyron?<\/h2>\n<p>Interestingly enough, <strong>the story doesn\u2019t stop here<\/strong>. Target has already <strong>integrated some key skills<\/strong> they learnt while being exposed to startups and acceleration, and <strong>Kyron is moving forward with them as well.<\/strong> The point of view of Vikram, working on the \u201cservice provider\u201d side, is enlightening on this point.<\/p>\n<p><em>\u201cTarget integrating some of these skills in-house is <strong>a natural evolution of the corporate accelerator setup<\/strong>. I definitely believe that corporates need a lot of these skills available inhouse (talent acquisition, entrepreneurs-in-residence, industry-trends analysis) to be able to keep with the disruptions in their industries and engage with the disruptors (startups) better.\u201d<\/em><\/p>\n<p><strong>A bit like agencies, accelerators will need to move the needle<\/strong> and offer new value for their corporate clients. <em>\u201cFrom a Kyron perspective, our value-add is our ability to engage startups, structure a program that brings together multiple stakeholders together and have a first-person perspective of the challenges that startups face. <strong>Having a front-row seat into the changing startup ecosystem in India<\/strong> and having first hand experience with corporates, we bring a very unique perspective to this entire equation.\u201d<\/em><\/p>\n<p>We\u2019ll follow-on the Target Accelerator Program as it evolves, and will publish soon a piece on Wal-Mart Labs, who is amazingly active on innovation too, and, guess what, with again smart Indians in key positions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Let\u2019s continue to explore corporate innovation, with the Target Accelerator Program case study. We\u2019ve met \u201cboth sides of the table\u201d when visiting Bangalore\u2019s top tech conference NASSCOM Product Conclave a few weeks ago, talking both with the teams of Target, and with Kyron, which operates their accelerator. For a quick introduction, Target is an American [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":1458,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[98,75,249,49,171,80],"tags":[248,167,317,74,351,245,354,64,355,356,73,357],"class_list":["post-1363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accelerators-incubators","category-corporates","category-fmcg","category-innovators-category","category-new-retail","category-research-category","tag-accelerators","tag-amazon","tag-bangalore","tag-big-data","tag-corporate-accelerator","tag-corporate-innovation","tag-ecommerce","tag-india","tag-retail","tag-target","tag-usa","tag-walmart"],"_links":{"self":[{"href":"https:\/\/innovationiseverywhere.com\/fr\/wp-json\/wp\/v2\/posts\/1363","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/innovationiseverywhere.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/innovationiseverywhere.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/innovationiseverywhere.com\/fr\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/innovationiseverywhere.com\/fr\/wp-json\/wp\/v2\/comments?post=1363"}],"version-history":[{"count":0,"href":"https:\/\/innovationiseverywhere.com\/fr\/wp-json\/wp\/v2\/posts\/1363\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/innovationiseverywhere.com\/fr\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/innovationiseverywhere.com\/fr\/wp-json\/wp\/v2\/media?parent=1363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/innovationiseverywhere.com\/fr\/wp-json\/wp\/v2\/categories?post=1363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/innovationiseverywhere.com\/fr\/wp-json\/wp\/v2\/tags?post=1363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}