By Laura Heller W almart has joined a growing list of retailers issuing looking for a few good startups to help solve some sticky technology problems and create more compelling shopping experiences. The world’s largest retailer is host an open call, inviting startups to its Bentonville, Arkansas headquarters to pitch to the top executives. The program is being led by Walmart’s Lab 415-C, the company’s tech- nology division. It’s partnering with the Northwest Arkansas Technol- ogy Summit and has room for roughly 250 applications. Those will be narrowed down and 25 to 30 finalists will pitch executives during the Summit this fall. Ultimately, a handful will be selected and invited to take up residence inside Walmart for mentorship and help developing and bringing their technology to market. It’s a great opportunity for a startup and an even better one for a company like Walmart that is too big to think like a startup and better off looking outside for innovation and inspiration. It’s a trend in retail today. First companies like Walmart and Target opened offices in Silicon Valley and then they began integrating those teams into the home offices. Target has an advisory board and now an entrepreneur in residence program. A recent call for startups yielded 50 responses and ideas ranged from from connected toys to virtual fitting rooms. These startups will have the full attention of decisionmakers at Walmart.
Lab 415-C in an interview. “Everything from fresh to security to the customer experience.”
Walmart partnered with the Technology Summit last year and has several new technologies in development. It also participated in the TechCrunch Disrupt SF 2015 Hackathon, a 24-hour event that lets hackers take on a project and compete for the chance to test it at Walmart. That crew helped Walmart develop its Simple Text virtual shopping assistant.
Walmart says its looking for ideas across a variety of areas, but has a real interest in technology that will enhance its fresh foods departments.
“We’re on the hunt for technology to assist the customer and enhance their shopping experience,” said Tom Douglass, director, Walmart
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MAY 2016 • SPOTLIGHT ON BUSINESS
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