At a Demo Day event in Minneapolis, Target noted that half of the retail-focused startups that participate in its retail accelerator program have entered formal agreements to test and pilot their products and services with the company.
Target maintained that its portfolio of four accelerator programs— Target + Techstars, Target Takeoff, the India-based Target Accelerator Program and the Target Incubator— aid the company in discovering new ideas and fresh thinking from startups as a means of differentiating its assortment and creating a better experience for consumers.
The five Target + Techstars retail accelerator startups that have entered formal agreements to work with the retailer are:
- Clicktivated. An immersive, interactive platform that allows consumers to shop clickable video, Clicktivated is testing shoppable videos on Target.com.
- Cooklist. An app that features shoppable recipes that feature common grocery items, Cooklist will include Target ordering capabilities by early next year.
- Flashfood. A mobile app that gives consumers access to grocers’ surplus food, Flashfood will launch a pilot at two Twin Cities-area Target stores in 2018, with the aim of reducing food waste.
- Runerra. A platform that makes it possible for locals to run errands for their neighbors by shopping at nearby retailers, Runerra will partner with Target, it’s first sponsored runs partner, which will cover the delivery fees for 200 Runerra users who place orders at Target’s Dinkytown store in Minneapolis near the University of Minnesota campus.
- Sozie. A company that matches shoppers with the same body shape and style from different social circles, enabling them to share outfits, shop together and evaluate how clothes will look on them, Sozie is working with Target to integrate user-generated content from its platform into select product reviews on the retailer’s website.
“Our latest Techstars has developed a number of interesting concepts we’re excited to test and explore further,” said Minsok Pak, Target evp/chief strategy and innovation officer. “Our growing portfolio of accelerator programs helps Target test early-stage outside innovations that can enhance our guest experience with exciting new products and technologies.”