One of India`s largest retail chains is investing in innovative technologies like blockchain with the start of a digital lab backed by a $15,5 million
One of India`s largest retail chains is investing in innovative technologies like blockchain with the start of a digital lab backed by a $15,5 million accelerator fund.
Future Group is a multi-billion Indian retail conglomerate that operates large Indian stores like Big Bazaar. The company has announced the establishment of a new “consumer and digital lab” in India`s tech capital of Bangalore.
“The Future C&D Lab is aimed at co-creating the next generation technologies for the consumer space in India. 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 Kishore Biyani, founder and group CEO of Future Group as quoted by a local publication in indiatimes.com.
The C&D Lab will gather a multidisciplinary team composed of technologists, engineers, data scientists, designers and consumer specialists.
Also, they will run hackatons, secondments and open workshops allowing continuous learning, collaboration and exchange of skills, said the company in statements.
The Lab in Banglore is reportedly said to bring next generation innovations using artificial intelligence, big data analytics, blockchains, internet of things and robotics allied with technologies.
The research and development activities will be supported through Rs 100 accelerator fund that will be set up to support the operations, technology development and IPR creation by the teams working at the lab.
The initiative will be led by Vivek Biyani, director of Future Group.