India: Future Group to set up $15m accelerator fund to back Future C&D Lab

Kishore Biyani. Photo: Devendra Parab/Mint

Kishore Biyani-led Future Group plans to set up a Rs 100 crore ($15 million) accelerator fund to back its Future C&D Lab, which was recently launched in Bengaluru.

The accelerator, named Future C&D Lab, is focussed on the consumer and digital space to bring in next generation innovations using artificial intelligence, Big Data analytics, blockchains, Internet of Things, robotics and allied technologies, the company said in a statement.

It will bring in multiple teams and companies that are working on these areas, housed in a common, collaborative space set up by Future Group in Bengaluru. These teams and companies have a ready access to test, experiment and prototype their technologies across Future Group’s brand and retail platforms.

The initiative will be led by Vivek Biyani, Director, Future Group and the accelerator fund will be used to back the operations, technology development and IPR creation by the teams working at The Lab.

Many global firms including Microsoft, Amazon, Qualcomm, Cisco and Apple already  have set up their own accelerators and incubators in Bengaluru and with its Future C&D Labs, Future Group has joined the league.

“We are creating an open environment of collaboration and co-creation with some of the best young Indian minds who are working with new technologies to create solutions that can impact the retail and consumer space over the next couple of years.” said Future Group’s Founder and Group CEO, Kishore Biyani.

The new initiative is targeted at scouting for technological developments that will influence consumer experiences in areas such as payments, unique consumer identification and development of one-on-one consumer conversations, anaytics and predictive modelling as well as in backend functions such as supplier engagements, supply chain automation and infrastructure deployment.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.