BANGALORE, February 18, 2016 /PRNewswire/ --
Lowe's Innovation Labs-Bangalore to Drive Retail Innovation Through Expanding Global Startup Ecosystem
Lowe's Innovation Labs (LIL), the disruptive innovation hub of Lowe's Companies, Inc., today announced the opening of LIL-Bangalore and unveiled its new facility in the heart of Bangalore. The new lab will house tech-savvy startups that will participate in an intensive 16-week accelerator program and give them an opportunity to partner with Lowe's and deploy their technology in the U.S. LIL-Bangalore's primary focus and priority technology areas include augmented and virtual reality, 3D printing and scanning, and robotics.
"Innovation and diversity of thought is at the core of what Lowe's represents," said Richard Maltsbarger, chief development officer and president, International, Lowe's Companies, Inc. "Lowe's Innovation Labs is revolutionizing the home improvement retail experience in the U.S., and we hope the tremendous talent and vibrant startup community in Bangalore will help us continue building a network of uncommon partners with whom we can co-develop technology."
Lowe's created LIL 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, LIL collaborates with startups and has introduced projects, including the Lowe's Holoroom, an augmented and virtual reality home improvement design tool, the OSHbot autonomous retail service robot and in-store and online 3D scanning and printing.
"Lowe's Innovation Labs-Bangalore will provide an open space where startups can interact and rapidly bring customer experience solutions to life through cutting-edge technologies, once thought to be the realm of science fiction," said Kyle Nel, executive director of LIL. "Bangalore is a dynamic community with world-class tech resources right in the heart of the city making it the perfect launching pad to expand our work in the U.S. and take disruptive technology to the next level."
LIL-Bangalore will also complement Lowe's existing Bangalore Global In-house Center (GIC), which has been operating since 2014 and has grown to include more than 400 employees working on technology and analytics solutions.
"Opening Lowe's Innovation Labs-Bangalore further strengthens our long-term commitment to India. We are confident that it will complement our efforts and further establish India as one of the innovation hubs for the company," said Lalit Ahuja, acting managing director, Lowe's India.
LIL-Bangalore is expected to welcome its first round of accelerator startups later this year. For more information, visit lowesinnovationlabs.com/lil-bangalore.
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 1,845 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.