Multi national giants Target & Coca Cola are planning to launch startup accelerators in India to tap into potential innovations that can help their business.
Retailing major Target is planning to launch an accelerator in India, where it already runs a captive tech support center. TechCrunch reports that the Target accelerator program for which it has been working with Lalit Ahuja of the Kyron accelerator for over a year, will start operations by January 2014
Target will pick product startups and set them up with $30,000 in the country. These startups will have access to Target’s massive distribution network, the report said.
Beverages giant Coca- Cola is also planning to open startup accelerators in 9 cities, including Bangalore by the end of the year.
The company, launched accelerators Sydney and San Francisco already. Bangalore, Berlin, Singapore, Istanbul, Rio de Janeiro and Buenos Aires are next in line for Coke.
Target’s rival Walmart operates its technology center out of Bangalore.