Future Group launches consumer lab; sets up Rs 100-cr accelerator fund

Fund will be set up to fund operations, tech development & IPR creation by teams working at The Lab

Kishore Biyani-led Future Group on Friday announced the launch of the Future C&D Lab in Bengaluru, which would focus on the consumer and digital space to bring in next-generation innovations using artificial intelligence, big-data analytics, blockchains, Internet of Things, robotics and allied technologies. The research and development activities will be supported through a ~100-crore accelerator fund that will be set up to fund the operations, technology development and IPR creation by the teams working at the lab.

The lab brings together multiple teams and companies that are working on these areas, housed in a common, collaborative space set up by the Future Group in Bengaluru. These teams and companies have ready access to test, experiment and prototype their Kishore Biyanitechnologies across Future Group’s brand and retail platforms that serve over a million customers everyday. Vivek Biyani, director, Future Group is leading this initiative.

"The Future C&D Lab is aimed at co-creating next generation technologies for the consumer space in India. We are creating an open environment of collaboration and co-creation with some of the best young Indian minds who are working with new technologies to create solutions that can impact the retail and consumer space over the next couple of years," Future Group founder and CEO Kishore Biyani said.

The lab is tracking technology developments that will influence consumer experience in areas such as payments, unique consumer identification and development of one-on-one consumer conversations, analytics and predictive modelling as well as back-end functions such as supplier engagements, supply chain automation and infrastructure deployment.