U.K. Retailers Hatch Incubators to Boost Tech Innovation
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U.K. retailer John Lewis, best known for its cosy Christmas commercials and royal connections, is launching an incubator, called JLAB, to drive technological innovation by tapping into the London start-up community.
As it gears up to celebrate its 150th birthday, John Lewis is looking for five start-up companies to work with JLAB between June and September this year in search of a retail breakthrough. A John Lewis spokesman said, “We are absolutely in this for the long run and we hope this year’s success leads onto more opportunities for JLAB.”
The winning start-up will receive an investment of $83,000 from John Lewis, matched by another $83,000 from technology entrepreneur Stuart Marks. And just as valuable: the opportunity to try out the idea in John Lewis stores, with the possibility of a rollout across all 40 branches.
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