Wednesday, March 4, 2020

Lowe’s Innovation Labs Receives 300+ Applications from Start-Ups Across 5 Cities

Technology is changing the way every industry does business by helping to create efficiencies, save money, and provide better products and services. Retail businesses have adopted technology at a faster pace to keep accelerating the rate of innovation, investing in, developing partnerships with, and collaboration with startups.

Lowe’s Innovation Labs (LIL),  a hub of Lowe’s Companies Inc, is focusing on building emerging technologies such as virtual, augmented and mixed reality, robotics, AI and additive manufacturing. The Lab accelerates experiences that Lowe’s customers and associates expect today and develops new capabilities and offerings that will power tomorrow. Taking this further, LIL announced a four month accelerator program – Bangalore Cohort 2020 in search of talented Indian technology startup companies by visiting five cities: Delhi NCR, Mumbai, Bengaluru, Chennai, and Hyderabad.

This initiative gave start-ups a platform to showcase their exemplary ideas and helped Lowe’s to recognize organizations that are doing breakthrough work in technology, together they plan to combine efforts and ideas to devise cutting edge strategies. It is designed to foster partnerships and sponsor projects with Indian startups eager to transform home improvement retail, whether that’s creating groundbreaking experiences for home dwellers, generating new services for trade professionals or applying emerging tech to the retail associate experience.

LIL received over 300+ startup applications out of which over 60 startups were selected for the first round. These startups were selected basis their phenomenal work in deep technologies such as  AR/VR, ML&AI, NLP, Big Data, Nanotech, Haptics, Blockchain, Image recognition, Computer vision and many more. Right now, LIL is in the process of shortlisting a few startups that will be a part of the launch program towards the end of March 2020.

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