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.