Metro and Target have teamed up to start the 'Metro Target Retail Accelerator, Certified by Techstars' programme, which will see the two retailers offer nine international start-ups an opportunity to gain unique access to the wholesale and retail industry.
The teams will relocate to Berlin and Minneapolis for three months, where c-suite mentors will offer potential piloting opportunities to the start-ups to boost further growth and internationalisation.
The nine tech start-ups where selected by a panel of more 30 members, comprising investors, Metro and Target executives and other valued partners.
The Metro Target Retail Accelerator, Certified by Techstars programme kicked off in Berlin on 6 May.
The teams are offered an investment component in the form of a convertible note from both Metro and Target, as well as support in the areas of piloting, scaling and industry expertise.
On 8 August, the teams will pitch their solutions to potential investors and key stakeholders.
“This Accelerator programme is strategically important for us and highly relevant for our 24 million customers. Our sector is one of the markets with the strongest digital growth rates and therefore the exchange between start-ups and industry experts in the framework of the Accelerator represents the key for developing important competitive advantages,” says Sylvia Dudek, programme director, Metro Target Retail Accelerator.
“With this joint programme we will be able to promote start-ups even more specifically and thereby build on the success of our first programme.”
Over the next three months, the teams will be given extensive help to further develop, refine and test their business models.
Meet The Start-ups
Among the participating start-ups. Afresh technology brings intelligence to the fresh food supply chain and aims to reduce waste. Retail managers can use this software to order the exact amount of fresh food they need.
Elsewhere, CB4 Analytics use AI and machine-learning software to find problems affecting products with high local demand. By analysing POS data, store teams will be alerted when issues such as products being missing or mislabeled, or out of stocks occur.
Einride's solution is based on autonomous, all electric vehicles, coordinated by an intelligent routing software that helps optimise delivery time, battery life and energy consumption.
IDEE is a software company that provides a re-usable digital profile that lets users check out instantly, without passwords or data entry.
LISNR's technology is based on an ultrasonic data transmission which enables secure bi-communication between mobile devices and the point-of-sale payment terminal, via speaker or microphone. The technology can broadcast the attendee's data to verify their ID, authenticate shoppers and safely process payments ensuring a seamless experience for the customer.
Persky is an insights platform that powers real-time research with millennial and Gen Z audiences through an immersive and gamified mobile app where users are rewarded for answering brand questions.
Sezzle is a 'Shop Now, Pay Later' payment platform, helping merchants increase online sales.
Shelfbucks provides a real-time merchandising analytics platform that tracks and improves ongoing daily performance of in-store display promotions and inventory from supply chain to the sales floor with complete transparency to retailers and supplier partners.
UntieNots from Paris provide retailers with AI powered gamified loyalty solution. Shoppers will receive personalised challenges to complete to win rewards.
The Metro Target Retail Accelerator, Certified by Techstars programme will come to an end in August with a Demo Day to showcase each start-up's progress at Target headquarters in Minneapolis.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Helen Galgey. Click subscribe to sign up to ESM: The European Supermarket Magazine.