Coca-Cola announced to set up its Accelerator Programme TARGET in India on 23 February 2014.
Target has identified five startups. The company will help the startups to develop their business ideas by providing them access to mentors, tools, resources and operational support.
Target will work with startups focused on mobile, data and analytics, content, social and search, all of which are becoming critical to retail in ensuring the right assortments in stores, determining the right prices, and ensuring faster delivery.
Initially, it will work with a startup Turnaround Innovision, which automates generation of rotating 3D images, which can be used to better showcase products on websites.
Another, Konotor, enables in-app two-way communication, which can be used for communications with customers.
This is a new trend that could provide more fuel to the emerging startup ecosystem in India.
About Microsoft Accelerator Programme
Microsoft launched its accelerator programme in July 2012, and it's now into the fourth batch of startups. The intense four-month programme provides mentorship by senior technical people from Microsoft, influential business leaders, domain experts, venture capitalists and angel investors.
It also provides space for the startups to work out of, but it does not make any investments in the firms. It could, however, benefit from the startups' use and promotion of its tools, and especially its Azure cloud platform that reduces initial costs and provides easy global reach to customers.
Who: Coca Cola
Where: In India
When: 23 February 2014
Why: To help Startups