Target accelerator programs go into launch phase

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Target accelerator programs go into launch phase

By Dan Berthiaume - 05/08/2019
Target’s newest tech accelerators are moving forward.

First announced in October 2018, Target Incubator is designed to support Gen Z entrepreneurs who run businesses that benefit people or the planet. The accelerator is now underway with eight companies: Blue Mangoes, Dressmate, KnoNap, Mickey’s Mission, Pulp Pantry, Symba, Terravive, and Trill Project.

Participants are currently taking part in virtual programming this spring, with Target’s accelerator team checking in regularly to help them prepare for the summer program. In mid-June, they will relocate to Target’s Minneapolis HQ for an eight-week course to learn about retail.

Throughout the program, participants will have opportunities to network and develop skills in areas such as negotiations, branding, and pitching. Participants will also have access to Target resources and mentors. At a Demo Day event the week of Aug. 1, the companies will showcase their final pitches in front of Target and industry business leaders.

To learn more about the eight companies participating in Target Incubator click here.

In addition, Target is progressing with its global installment of the Target + Techstars accelerator program. In December, the discounter said it would hold an edition of the program in partnership with Germany-based food retail and wholesale giant Metro AG.

That program kicks off this week at Metro’s accelerator headquarters in Berlin with nine founders of retail-focused startups: Afresh Technologies, LISNR, Perksy, Sezzle, Shelfbucks, CB4, Einride, IDEE GmbH, and UntieNots.

Target and Metro selected startups based on alignment to strategic initiatives at one or both companies. They will embark on a three-month immersion focused on business development efforts, mentoring and applying an international lens to their business with the Target and Metro teams.

At the end of May, they’ll move to Target’s Minneapolis HQ for several weeks, where they’ll tour Target stores and facilities, meet leaders and mentors, and take part in workshops on the competitive retail landscape, strategies for working with large retail partners, and more. Finally, participants will relocate to one of the two cities mid-July for a few more weeks to continue conversations with Target and Metro business units.

For the finale, each participating company will get to pitch their business to Target, Metro and Techstars leadership, as well as the local startup community and potential investors, at a Demo Day in Minneapolis on Aug. 8.

For more information on the nine companies click here.

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