They include METRO Accelerator for Retail, Techstars Retail and RetailXelerator
For startups, there are numerous paths for getting their name out there. One way, which Vator has been covering recently, are startup competitions, but another popular method to get a foot in the door, as well as some funding and traction, are accelerators. These are programs that provide companies advice, guidance and various forms of support for startups in their early stages. They also often invest in the companies, for a certain equity stake.
Need a list of startup competitions, challenges, accelerators, etc. from around the world? Check out VatorX. You can find them, or list yours!
There are some very well-known accelerators out there, including Y Combinator and 500 Startups, which have made their names through various successful alumni. Those programs fairly general, accepting companies from a variety of different spaces.
For some companies, it may help to join an accelerator that only focuses on their specific area. That's especially true for those in more specialized spaces, which will have their own unique challenges and regulations.
Here are some of the accelerators that are focused specifically on mentoring companies in the retail technology space:
"Our Brand & Retail Innovation Platform is an ecosystem connecting forward-thinking brands, retailers, and CPGs with startups influencing the retail value chain."
Investment amount: We do not ask participating startups to give up any ownership. We would much rather invest in your next round of funding fairly.
Program benefits:
- Our venture team invest in over 260 startups globally every year and our check sizes run from $25,000 to $500,000. Become a portfolio family member today.
- We have partnered with over 220 of the world’s largest corporations to help them discover startups. Our startups pitch in private sessions to land pilots and grow faster.
- With over 25 locations across The Americas, Europe, Middle East, and Asia, we can help you scale to new markets faster.
- Our 180,000 square foot building in the heart of Silicon Valley makes it easy for teams to grow hassle free.
- We might not have kombucha on tap (yet), but we do have 300 of the world's best venture capital funds as regular visitors. This has helped our ecosystem raise more than $7bn.
Portfolio companies: Vudu, Milo, Commerce.AI, NatureBox, Retrevo
"METRO Accelerator for Retail powered by Techstars handpicks few select startups for an intensive three-month program built on the foundation of marked funding and investment opportunities. The program is run as a strategic partnership between METRO and Techstars aiming to create exciting ideas for innovation in the Retail sector."
Investment amount: An offer of €120,000 worth of investment
Program benefits:
- Unparalleled access to METRO’s intellectual capital
- Close purpose-driven mentorship from METRO and Techstars industry experts and experienced entrepreneurs
- Free dedicated working space in Berlin during the program
- Judiciously prepared high stakes Demo Day
- The opportunity to become a lifelong member of the METRO and Techstars alumni network
Mentor makeup: Adrien Roose, Carsten Maschmeyer, David Cohen, Evgeni Kouris
Portfolio companies: Hotelhero, Gofer, Fresco
"The LYONSCG Unified Retail Accelerator is a powerful pre-built platform delivering key retail functionality and seamless multi-cloud capabilities tailored to your commerce needs, markets and customers."
Investment amount: Not specified
Program benefits:
- Increased service agent productivity and easier customer profile access thanks to Commerce Profile for Service Cloud.
- Centralized customer preference settings via Unified Profile Center for Commerce Cloud and Marketing Cloud.
- Marketing-drive, not developer-reliant, email marketing with Responsive Transactional Emails for Marketing Cloud.
- Geolocation-based email targeting, localized events and promotions, and robust personalization features that connect digital to brick-and-mortar with Commerce Cloud Store Content available for Marketing Cloud.
Portfolio companies: Not specified
"Techstars Retail, in partnership with Target is a three-month intensive startup accelerator focused on bringing new technology, experiences, products, and solutions to retail. Ten companies will be selected and work with mentors from the Techstars network and within Target. If you want to experience the proven methodology of Techstars and disrupt retail with Target as it embarks on a new phase on innovation in its stores and online, this is the program for you."
Investment amount: A $100,000 convertible note is automatically offered to all Techstars companies upon acceptance.
$20,000 in exchange for 6% common stock
Program benefits:
- Access to Techstars resources for life
- Acceleration in a 90-day Techstars program with intense, hands-on mentorship from Techstars Mentors
- Connections to the Techstars Network of over 5,000 founders, alumni and mentors globally
- 400 perks worth over $1M
- Office space for three months
- Demo Day and other investor connections
- Equity Back Guarantee, the only one of its kind in the industry
Portfolio companies: BYBE, Local Crate, Savitude, StoryXpress
"We curate, coach and connect innovators with the right channels - retailers, carriers, utilities, service providers and more - to reach more customers and create value for their businesses."
Investment amount: Not specified
Program benefits:
- You receive presentation coaching virtually and in person from RX and utility partner mentors.
- You will have the opportunity to pitch to decision makers in the organization.
- Our client is currently in the process of on-boarding 15 companies from the first program.
Mentor makeup: Rick Rommel, Kelly Hugunin, Matt Haugh, Cathy Bassett
Portfolio companies: Not yet
"More and more organizations have been choosing Sitecore for eCommerce. Until now, however, a turnkey solution to fully decouple Sitecore Experience Commerce 9 from the front-end website has not been available. EPAM’s newly upgraded Sitecore Retail Accelerator saves time, effort and money on Sitecore Experience Commerce development while implementing the latest technology trends."
Investment amount: Not specified
Program benefits:
- Enables a JSS-based eCommerce site that is headless, meaning it is decoupled from Sitecore servers
- Empowers productivity on day one through tested source code that saves teams weeks of development time
- Allows front-end JavaScript developers to quickly develop and adjust eCommerce website features independently from Sitecore back-end developers
- Uses REACT to accelerate the development process with code re-use
- Provides a professionally–branded, custom storefront UI
- Offers a proven alternative to the Sitecore Experience Accelerator (SXA)-based storefront.
Portfolio companies: Not specified
"The Accelerator of Aragón Open Future promoted by T-ZIR and Telefónica Open Future, is a pioneer in method. Startups and retailers work collaboratively throughout the acceleration process."
Investment amount: Not specified
Program benefits:
- To attract and retain innovative talent, we want to create a benchmark ecosystem in Europe in which the experiences and solutions of the future emerge, which respond to the challenges faced by retail and the value chain of the retail sector.
- Support the entrepreneurs, motivate them and direct them so that their ideas and projects become real pilots in the market.
- Improve the projection, scalability and access to resources and financing of innovative and entrepreneurial talent.
Portfolio companies: Not specified
"The Greenhouse offers a unique retail tech-accelerator program focused on accelerating technology-driven solutions, catered towards fast growing retail startups. This equity-free accelerator program runs for twice a year for three-months; offering startups market access and retail expertise. Selected startups are matched with corporate sponsors across the Group to implement proof of concepts, with the goal of signing commercial agreements down the line."
Investment amount: $20,000 Grant (Equity-Free)
Program benefits: Three months in Dubai with access to co-working space.
Mentor makeup: Sharmila Murat, Grace Khoury, Daniel Gomez, Gima Baz
Portfolio companies: StoreDNA, SizeMe, EuroPass, Phygitalmind
"SPRING PARTNERS WITH ENTREPRENEURIAL BUSINESSES ACCELERATING THE GO-TO-MARKET PROCESS, POSITIONING INNOVATIVE PRODUCTS AND BRANDS FOR SUCCESS."
Investment amount: Not specified
Program benefits: SPRING ENGAGES PARTNERS IN ITS PROPRIETARY RETAIL BOOTCAMP. OUR PROCESS ENSURES YOUR BUSINESS IS BUILT FOR SCALABLE AND SUSTAINABLE SUCCESS, LAUNCHING YOUR PRODUCT IN THE RIGHT RETAIL CHANNELS AT THE RIGHT TIME, AND ADVISING THROUGHOUT THE LIFE CYCLE OF THE BRAND.
Portfolio companies: Not specified
"Our Retail Accelerator program provides 6 month low-cost retail space to product and service entrepreneurs. Hosted at 211 King in the historic Novacks building. The program provides retail space, mentorship and a community network to experiment, validate and grow your business ideas.?
Investment amount: Not specified
Program benefits:
1) Provide startup retail businesses a low-risk context to test their business idea in a popular and centrally-located downtown storefront.
2) Assist retailers in developing the knowledge and skills to embark on a long-term lease.
3) Encourage small business growth and entrepreneurship in Downtown London.
4) Increase economic vitality in London, Ontario more generally.
Portfolio companies: Not specified
(Image source: chainstoreage.com)
Steven Loeb