Applications open for the cohort of METRO Accelerator for Retail!
- Following the success of the first programme, startups anywhere can now submit applications to METRO Accelerator for Retail powered by Techstars until 2 February 2018.
- Ten startups will be selected for the three-month acceleration programme in Berlin
- More than 100 international mentors will support the new cohort
Together they will develop business models, test their solutions and receive financing in the amount of up to 120,000 EURAfter the successful start of the Accelerator Programme for digital retail solutions last year, as of now startups may apply with their new technological solutions for retail. METRO and Real are organizing the Accelerator Programme jointly with Techstars as partners. The application period runs until 2 February 2018; the second round of the Retail Accelerator starts in Berlin on 21 April 2018. Startups with innovative digital & technological applications for independent retailers, an important customer group of METRO Cash & Carry and of the food retail trade, will be given the opportunity to develop their projects further in Berlin for three months. In mid-July, these startups will then present at two separate demo days to professional investors in London and Munich.
“We are looking forward to receiving applications from startups who want to work on solving the biggest challenges faced by Europe’s retail ecosystem. We are looking for the disruptive solutions along the entire value chain”, comments Jag Singh, who recently took over as the Managing Director for the Retail Accelerator. Jag Singh is a serial entrepreneur, and has been an active investor in over 70 technology startups around the world. “I am always thrilled to help founders grow their companies, supporting them with my knowledge and challenging them with my experience. I’m also already feeling the pulse of the Accelerator programme in Berlin, THE town for startups in Germany”, Singh adds. The decision of three startups – Sensefinity from Portugal, IamBot from Poland and JustSnap from Turkey – from the first cohort of METRO Accelerator for Retail to move their headquarters to Berlin demonstrates that the city is the right choice for the Accelerator, positioning itself as the unrivaled German startup metropolis.
— techstars (@techstars) November 21, 2017
All startups from the first programme, which ended on 5 September 2017, have been growing rapidly. “Sensei, the start-up using Artificial Intelligence for retail stores, based on the analysis of existing video cameras footage successfully closed seed financing round”, reports Andreas Wuerfel, Director Global Innovation Community at METRO. “JustSnap, an end-to-end solution for FMCG brands to manage and run promotional campaigns, is partnering with P&G for running a multibrand campaign within the platform, whilst oriient and KptnCook are running pilots in Germany – oriient with METRO Cash & Carry and KptnCook with Real”.
METRO Accelerator for Retail 2017 class
On 21 April the selected startups will get started in Berlin. For three months the participating start-ups will cooperate with more than 100 international mentors, to optimise their business models and find ways to strengthen the entire retail ecosystem.
Under the umbrella of the METRO Accelerator powered by Techstars, METRO and Techstars, in two programs, help international startup teams in the development of digital solutions. One of the programs focuses on solutions for the hotel, restaurant and catering sector while the second program is aimed at the retail industry. In the framework of the three-month programs organised in Berlin, experienced mentors and experts will in each case help ten selected startups to successfully develop their own business further with regard to customers and investors. The METRO Accelerator powered by Techstars was launched in 2015 with a regularly hosted hospitality program that is unique in the world.
METRO is a leading international specialist in wholesale and food retail. The company operates in 35 countries and employs more than 150,000 people worldwide. In financial year 2015/16, METRO generated sales of around €37 billion. The company provides custom solutions to meet the regional and international needs of its wholesale and retail customers. With its sales brands METRO/MAKRO Cash & Carry and Real as well as delivery services and digitalisation initiatives METRO sets the standards for tomorrow: for customer focus, digital solutions and sustainable business models.
Techstars is a global ecosystem that empowers entrepreneurs to bring new technologies to market wherever they choose to live. With dozens of mentorship-driven accelerator programs and thousands of start-up programs worldwide, Techstars exists to support the world’s most promising entrepreneurs throughout their lifelong journey, from inspiration to IPO. Techstars provides access to tens of thousands of community leaders, founders, mentors, investors and corporate partners, allowing entrepreneurs to accelerate the pace of innovation and Do More FasterTM. Techstars supports every stage of the entrepreneurial journey – from the idea to venture capital investments to M&A and IPO.