New York -- Kohl’s Department Stores and Toshiba Global Commerce Solutions have teamed up with Plug and Play to participate in Plug and Play Retail, an accelerator program that is focused on technologies and teams innovating in the retail industry. (Based in Sunnyvale, California, Plug and Play is a business accelerator that specializes in growing tech startups.)
“We are pleased to announce Plug and Play’s partnership with Kohl’s and Toshiba Global Commerce Solutions and plan to leverage their deep industry knowledge and expertise to advise our investment strategy in the retail space. With their guidance, we will look to invest $25K-$100K in up to 30 retail-focused startups from around the world,” said Saeed Amidi, founder and CEO, Plug and Play.
The Retail Accelerator is a 12-week program designed for early and growth stage startups. Qualified companies are developing solutions in areas like inventory management, forecasting, augmented reality and Beacon. Through tailored deal flow, themed workshops, and face-to-face interaction, Plug and Play Retail aims to enable corporations to engage with startups that may complement their respective suite of offerings or create new potential revenue streams.
Startups accepted into the program receive funding from Plug and Play Ventures, weekly mentor sessions with industry thought-leaders, and opportunities for potential pilot projects, all culminating at Plug and Play’s quarterly demo day.
"Through our commitment to innovation, Kohl's is investing in the new technology, platforms and partnerships that will elevate customers' connection with Kohl's,” said Ratnakar Lavu, Kohl’s executive VP digital technology. “The way consumers shop and share is changing faster than ever, and we are staying several steps ahead to ensure their experiences with Kohl's remain both easy and exciting."
Plug and Play Retail will be accepting applications until May 31 and the program begins June 30.