Plug and Play(PNP), a world-renowned high-tech investment accelerator, has witnessed the development trend of China's retail technology field together with six major enterprises in the retail field, several venture capital institutions and start-up companies. After several rounds of screening, ten entrepreneurial teams finally stood out and successfully entered the PNP's three-month "Accelerated Unicorn Program".
[June 19, 2017, Shanghai -- PNP Unicorn Accelerator (Retail Technology Special session), a world-class road show organized by PNP and six major retail enterprises and Deloitte China, was officially held at Deloitte Touche Tohsu Space in Shanghai.
PNP Unicorn Accelerator is an accelerator program designed to help startups connect directly with retail giants at a high level. Participating companies include Wanda Group, Bosideng International Holdings Co., LTD., Bailian Group, China Resources Group, Hong Kong Li & Fung Group, and New Oriental Education & Technology Group.
On the selection day, more than 30 senior executives of large enterprises attended the discussion, including Mars Food Company, Procter & Gamble Group, Yto Express, Mengniu Group, China Mobile, Unilever, Haier, capitaland Group, Huazhou Hotel Group, Michelin, Samsung China Research Institute, Germany Bosch, Red Star Macalline, Jinjiang Hotel Group, Henkel China and other top 100 enterprises. PNP has witnessed the development trend of China's retail technology sector together with six retail giants, more than 30 senior executives of retail conglomerates and 24 startups.
The PNP Retail Accelerator program received thousands of applications from top retail startups when it first launched. After rigorous screening, 24 startups favored by the PNP evaluation team and large enterprise partners gathered in Shanghai Qinchuang Space for on-site project roadshow and competed fiercely for 10 accelerator seats in the "PNP Unicorn Accelerator Program".
After a joint vote by PNP and six retail giant partners, 10 of the most promising startups were selected for the three-month accelerated program. Shortlisted startups (ranked in no particular order) : Chaser Technology, PING++, Shengsu Data, Tianzheng, Ganlai, DATATIST, GROWINGIO, Tulin Technology, VISCOVERY, Sanshu Technology. The technology fields of the selected startups cover payment technical support, artificial intelligence, big data analysis, human-computer interaction, supply chain inventory management and other fields.
Under the leadership of PNP, startups entering the accelerator program will go into the headquarters of large enterprises to discuss business cooperation directly with top leaders, and discuss technology docking in the field of innovation with technical directors. Finally, at the end of September, top venture capitalists from around the world will join with retail industry leaders to witness the growth of selected startups and engage in deeper business partnerships and investments.
This PNP retail acceleration program undoubtedly builds a communication bridge between large enterprises and startups. This acceleration program is committed to helping startups understand the interest of large enterprises in the application of technology in the retail field, understand its market demand, and grasp the dynamic development trend of the industry, so as to quickly open the domestic and international market and seize the market opportunity.
"Deloitte is committed to building a disruptive innovation ecosystem. This Retail Accelerator Screening Day is an important part and practice of Deloitte's SPEED SET innovation Accelerator model," said Minghua Liu, Managing Partner of Deloitte East China. At the end of today's screening day, Deloitte's professional services team will work with retailers and start-ups that have shown initial interest in working together to explore partnership models. We hope that through this event, we can realize technology connection and resource linkage, accelerate the growth of start-ups and promote the innovation and development of industry giants."
Randy Jagt, Deloitte China Retail Partner, shared industry insights under the theme of "New retail era", noting that new channels are replacing traditional channels, companies are facing greater profit and traffic pressure than ever before, and consumers' demand for innovation and brands is increasing. In China, where online sales account for 13.5% of sales, higher than the global average, and where a high percentage of consumers shop on mobile, digital influences 57% of sales, these unique ecosystems are changing the way we retail. Providing consumers with a digital omnichannel experience, building a dynamic digital supply chain network, and the ability to analyze decisions and integrate retail value chains are three key dimensions for enterprises to succeed in the new retail environment.
Plug and Play has more than 10 years of experience in accelerating retail in Silicon Valley, helping startups successfully connect with Fortune 500 companies and engage in deep technology cooperation. This time, PNP brings the successful experience of Silicon Valley to China and partners with local and international retail giants to find retail unicorns in the world's fastest growing economy.
