US retail leader Target is coming to India to incubate startups

After reports late last year that American retail giant Target would set up an incubator in India in 2014, the_Times of India has_ reported that the company’s accelerator programme will be launched in the country today.

Target is just the latest MNC to look at India as a potential startup gold mine rather than a reliable back-office services center - Microsoft Ventures runs a successful accelerator programme in Bangalore and soft-drink maker Coca-Colais looking to lay down entrepreneurial roots in the country.

According to the Times of India report,Target has maintained a presence in Bangalore for nine years now with a technology center that houses nearly 2,900 engineers.

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[caption id=“attachment_77422” align=“alignleft” width=“380”]  Target is just the latest MNC to look at India as a potential startup gold mine rather than a reliable back-office services center. Reuters[/caption]

While reporting on the Target’s announcement to enter India in November, 2013, Techcrunch wrotethat the startups will receive upto $30,000 in funding, with Target focusing onbig data, content aggregation, mobility and search. The website stated that Target’s Indian incubator will be headed by LalitAhuja, who runs an accelerator of his own calledKyron.

_ToI_reported that Target is courting startups like Turnaround Innovision, which automates generation of rotating 3D images and muHive, which helps simplify social conversations.

Read the entire Times of India story here.