LOS ANGELES – The Center for Advancing Retail & Technology (CART) today announced that it’s Virtual Pitch Event has grown with startup finalists pitching to CART panelists now representing over 18,000 stores in fast moving consumer goods (FMCG) retail. The program received several hundred startup applicants last year and is on track to see even more applicants this year as both domestic and international startups seek to participate.
“The pace at which new technologies are coming to market is accelerating,” said Sterling Hawkins, Operations and Venture Relations, CART. “Many technologies are rapidly becoming a cost of entry as retailers race to understand virtual reality, 3D printing, robotics, IoT and other emerging technologies. CART vets hundreds of solutions each year as the company connects the retail industry to innovation.”
The virtual event gives up-and-coming solution providers the opportunity to pitch key retail, wholesale and brand decision makers who serve on the CART panel including executives from companies such as Albertsons, Woodman’s, KVAT Food City, C&S Wholesale, AWG, Unified Grocers, and others. Executive panelists will learn about the solutions and have the opportunity to pilot or consider investing in finalists.
The FMCG retail industry is being transformed and disrupted at every point across the supply chain” said Hawkins. “This event is designed to augment internal innovation efforts many companies have by providing a purpose-built vehicle to source, vet, and pilot cutting edge technology.”
The winner will be highlighted in CART media and pre-qualify for a potential $25,000 cash investment from CART partners and $25,000 in CART services. The competition will give participants exposure to potential investors, retailers, brands and media.
Participation is open to startups of all stages worldwide at no cost. Applications are due by April 5, 2017. For more details and to apply, please visit: advancingretail.org/innovation