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Innovation Drivers for Multichannel Retail Wanted
Applications open for the cohort of METRO Accelerator for Retail powered by Techstars
- Ten startups will be selected for the three-month acceleration programme in Berlin
- More than 100 international mentors will support the new cohort
- Together they will develop business models, test their solutions and receive financing in the amount of up to 120,000 EUR
- Applications can be submitted with immediate effect up until 2 February 2018, at www.metroaccelerator.com
After the successful start of the Accelerator Programme for digital retail solutions last year, as of now start-ups may apply with their new technological solutions for retail. METRO and Real are organising the Accelerator Programme jointly with Techstars as partners. The application period runs until 2 February 2018; the second round of the Retail Accelerator starts in Berlin on 21 April 2018. Startups with innovative digital & technological applications for independent retailers, an important customer group of METRO Cash & Carry and of the food retail trade, will be given the opportunity to develop their projects further in Berlin for three months. In mid-July, these startups will then present at two separate demo days to professional investors in London and Munich.
“We are looking forward to receiving applications from startups who want to work on solving the biggest challenges faced by Europe’s retail ecosystem. We are looking for the disruptive solutions along the entire value chain”, comments Jag Singh, who recently took over as the Managing Director for the Retail Accelerator. Jag Singh is a serial entrepreneur, and has been an active investor in over 70 technology startups around the world. “I am always thrilled to help founders grow their companies, supporting them with my
knowledge and challenging them with my experience. I’m also already feeling the pulse of the Accelerator programme in Berlin, THE town for start-ups in Germany”, Singh adds.
The decision of three start-ups – Sensefinity from Portugal, IamBot from Poland and JustSnap from Turkey – from the first cohort of METRO Accelerator for Retail to move their headquarters to Berlin demonstrates that the city is the right choice for the Accelerator, positioning itself as the unrivalled German start-up metropolis.
All start-ups from the first programme, which ended on 5 September 2017, have been growing rapidly. “Sensei, the startup developing precise evaluations and analyses of retail based on existing video cameras footage successfully closed seed financing round”, reports Andreas Wuerfel, Director Global Innovation Community at METRO. “JustSnap, an end-to-end solution for FMCG brands to manage and run promotional campaigns, is partnering with P&G for running a multibrand campaign within the platform, whilst oriient and KptnCook are running pilots in Germany – oriient with METRO Cash & Carry and KptnCook with Real”.
On 21 April the selected start-ups will get started in Berlin. For three months the participating start-ups will cooperate with more than 100 international mentors, to optimise their business models and find ways to strengthen the entire retail ecosystem.
Under the umbrella of the METRO Accelerator powered by Techstars, METRO and Techstars, in two programs, help international start-up teams in the development of digital solutions. One of the programs focuses on solutions for the hotel, restaurant and catering sector while the second program is aimed at the retail industry. In the framework of the three-month programs organised in Berlin, experienced mentors and experts will in each case help ten selected start-ups to successfully develop their own business further with regard to customers and investors. The METRO Accelerator powered by Techstars was launched in 2015 with a regularly hosted hospitality program that is unique in the world. More information available at www.metroaccelerator.com
Techstars is a global ecosystem that empowers entrepreneurs to bring new technologies to market wherever they choose to live. With dozens of mentorshipdriven accelerator programs and thousands of start-up programs worldwide, Techstars exists to support the world’s most promising entrepreneurs throughout their lifelong journey, from inspiration to IPO. Techstars provides access to tens of thousands of community leaders, founders, mentors, investors and corporate partners, allowing entrepreneurs to accelerate the pace of innovation and Do More Faster™. Techstars supports every stage of the entrepreneurial journey – from the idea to venture capital investments to M&A and IPO. For more information visit www.techstars.com.
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