American retail company Target is planning to launch an accelerator in Bangalore to tap into India’s startup scene, reports TechCrunch.
Named as Target Acceleration Program, it will pick one/two product startups operating in the field of big data, content aggregation, mobility and search every year, and will give them up to USD 30,000 (includes cash and operational expenses), the report said.
The accelerator will start its operations by January 2014, and will be managed by Lalit Ahuja of the Kyron accelerator, who has been working in this program for over an year now.
Target Chief Information officer Beth Jacob will head to India to attend startup boot camps as part of Target’s effort.
Officials have already begun reaching out to some companies. Moreover, it has invited Dataweave, a data aggregation and analytics company which has already raised funding earlier in April and Tookitaki, an iAccelerator (IIM-Ahmedabad) graduated startup which combines online behaviour and social media data to offer targeted ads.
Other than Target, beverages giant Coca Cola, which already has accelerators in Sydney and San Francisco, is also planning to open its accelerators in 9 other cities across the world, including Bangalore.
To contact author, email at firstname.lastname@example.org