BANGALORE, August 26, 2015 /PRNewswire/ --
Lowe's Innovation Labs-Bangalore to Launch With Disruptive Technology Startup Accelerator
Lowe's Innovation Labs, the disruptive innovation hub of Lowe's Companies, Inc., is expanding its network into Bangalore by launching a startup accelerator focused on developing priority technologies including augmented and virtual reality, 3D scanning and printing, and robotics.
Startups at LIL-Bangalore will participate in an intensive 16-week accelerator program and have the opportunity to partner with the Lowe's Innovation Labs to deploy their technology in the U.S. Interested startups are encouraged to apply online.
"In our first year, Lowe's Innovation Labs demonstrated a bias toward action - doing and not just talking, and Bangalore will be an extension of our team's work in the U.S.," said Kyle Nel, executive director of Lowe's Innovation Labs. "We are energized by the talent and community in Bangalore, and are excited to build our global portfolio with a focus on developing entrepreneurs in addition to technology."
Lowe's created Lowe's Innovation Labs in 2014 to bring together uncommon partners with a commitment to get technology out of the lab and into the real world. Beginning with science fiction prototyping to craft a narrative for the future, in its first year Lowe's Innovation Labs collaborated with startups to introduce the Lowe's Holoroom, an augmented reality home improvement design tool, the OSHbot autonomous retail service robot and in-store and online 3D scanning and printing.
LIL-Bangalore is expected to open in December in the heart of downtown Bangalore's startup-rich community. Future LIL-Bangalore initiatives will include an incubator program to further develop talent and technology, and partnerships with leading Bangalore universities to sponsor research.
LIL-Bangalore will complement Lowe's existing Bangalore Global In-house Center (GIC) operations. Lowe's has more than 300 employees in Bangalore at its analytics and technology office.
"Bangalore has a wealth of talent that has helped Lowe's build a strong foundation for our technology and analytics center," said Lalit Ahuja, acting managing director, Lowe's India, who helped open Lowe's GIC in February 2014. "The Lowe's Innovation Labs-Bangalore program allows us to grow our local presence, identify talent and collaborate with pioneering companies."
Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 16 million customers a week in the United States, Canada and Mexico through its stores and online at Lowes.com, Lowes.ca and Lowes.com.mx. With fiscal year 2014 sales of $56.2 billion, Lowe's has more than 1,840 home improvement and hardware stores and 265,000 employees. Founded in 1946 and based in Mooresville, N.C., Lowe's supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.
Lowe's Companies, Inc.
SOURCE Lowe's Companies, Inc.