India arm of US retailer Target, Target India has launched a startup accelerator programme in the Indian city of Bangalore. Through the programme, Target India plans to provide a funding of US$ 30,000 each to shortlisted startups. The selected startups will also be mentored and provided with business tools and operational support.
The four month long programme will be rolled out in Target India’s Bangalore office and will annually incubate four to five startups in the mobile, social media and big data analytics segment.
Five shortlisted startups of the first batch of Target Accelerator Programme are: Turnaround Innovision, a website that helps in rotating 3D images to display products on host websites; Konotor – a two way communication channel between a client and their mobile app users, MuHive Technologies, a startup that offers a social engagement platform to help organisations simplify their social conversations, Unbxd Inc that enables personalised searches, product recommendations and website navigation; and Instaclique by Nirmantra Technologies that helps organisations integrate social media conversations online to decrease website bounce rates and increase customer engagement.
Lately, Microsoft too announced a summer batch of its Microsoft Ventures Accelerator Program in India. Microsoft finalised 16 technology startups of which six of them are MyBusTickets.in, an online bus ticketing portal; Praxify – a cloud based medical practice management solution provider; Thinxstream – a software firm that develops print and media applications, Touchfone – a messaging and gaming platform, ZingHR – a HR management solution provider and Zoom – a membership based car sharing servie, will constitute the newly launched Accelerator Plus Program.
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In 2013, eBay Inc owned PayPal also launched a startup incubator at is development centre in the Indian city of Chennai with an aim to incubate eight to 10 startups in the country.
Acquisition of Little Eye Labs by Facebook was one of the examples of the world’s increasing interest in the Indian startup space. With retail giants such as Target showing interest in the space, Indian startups have an instant opportunity.
Featured Image Courtesy: Target India