John Lewis Launches JLAB Incubator
- Tuesday, March 4th, 2014
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UK retailer John Lewis has launched its first technology incubator project, JLAB, as part of its 150th anniversary celebrations.
JLAB, launched in partnership with tech entrepreneur Stuart Marks, is looking for five start-ups with ideas that could shape the shopping experience of the future.
The selected finalists be will given funding and the opportunity to work with mentors including John Lewis execs to develop their ideas over the June-September incubation period.
In September, the panel of mentors will pick a winning entry, which will receive £100,00 investment – half from John Lewis, half from Marks – and be developed for an in-store trial, which an eye to being implemented across the retailers 43 UK stores.
“[Founder] John Spedan Lewis was a radical entrepreneur and so adopting a novel approach to business and retail innovation is not new to us, it’s a fundamental part of our DNA,” said John Lewis MD Andy Street. “Our 150-year anniversary not only gives us the chance to reflect on our history, but to look forward at how we shape the next 150 years.
“We have been ahead of the game in omnichannel retailing and through our JLAB incubator we will nurture the next generation of technology start-ups while helping ensure we remain on the cutting-edge of retail change.”