Cardlink Business Factory by Retail Innovation Hub: Accelerating innovation in retail

Powered by Found.ation, Business Factory, an initiative by Retail Innovation Hub by Cardlink, continues its mission to revolutionize the retail landscape with cutting-edge solutions and customer-centric approaches.

Unlocking potential through collaborative innovation

The Business Factory operates as a well-structured and agile framework, fostering collaboration between startup teams, technology solution providers, and industry stakeholders. With a core focus on expediting the translation of industry demands into actionable solutions and successful business partnerships, the Business Factory paves the way for accelerated development of groundbreaking tech products and services. This concerted effort ultimately enables the retail sector to innovate rapidly and deliver unparalleled customer experiences.

Key areas of focus

The scope of the Business Factory extends beyond conventional retail boundaries, encompassing diverse verticals that hold the potential to redefine the future of the industry. The specific areas of focus for the Business Factory, are the following:

• E-commerce Personalization: Tailoring online shopping experiences to individual customer preferences using AI and data analytics.
• Open Banking: Allowing third-party providers to access financial data to create innovative payment solutions and services.
• Financial Inclusion: Developing payment technologies to provide financial services to unbanked and underbanked populations, promoting financial inclusion on a global scale.
• Sustainable Retail Practices: Embracing eco-friendly initiatives, such as reducing waste, using sustainable materials, and promoting ethical sourcing.
• Augmented Reality (AR) Shopping: Implementing AR technology to enable customers to visualize products in their real environment before making a purchase decision.
• Instant Payments: Real-time payment systems that enable immediate fund transfers between individuals and businesses.
• Supply Chain Innovation: Implementing technologies like blockchain for transparent and efficient supply chain management, ensuring product authenticity and reducing delays.
• Subscription-Based Services: Offering subscription models for products and services, providing customers with regular, curated deliveries based on their preferences.
• Voice Commerce: Utilizing voice assistants like Amazon’s Alexa and Google Assistant for shopping, allowing customers to make purchases using voice commands.
• Cryptocurrency and Blockchain Payments: Integrating cryptocurrencies and blockchain technology for secure and decentralized payment solutions.

Requirements

Collaborative framework and application process

The Business Factory introduces an extended and agile open call phase, allowing sufficient time for interested teams to prepare and submit their proposals. Once identified and evaluated, selected teams will be matched with relevant stakeholders at Cardlink to initiate the collaborative process.

During the Business Factory journey, participants engage in weekly working sessions, fostering an environment conducive to exchanging ideas, discussing concepts, and pooling knowledge. Additionally, the teams receive comprehensive coaching to enhance the development of innovative solutions that effectively address industry challenges.

Following the facilitation phase, potential partnership prospects undergo an intensive solution exploration sprint, delving into the intricacies of the partnership and exploring the framework and terms of a potential agreement.

The overall duration and phases of the Cardlink Business Factory are structured as follows:

1. Open-Call (6 weeks)
2. Selection Process (6 weeks)
3. Facilitation (6 weeks)
4. Solution Exploration Sprint

Shape the future of retail with us

The Business Factory, by Retail Innovation Hub by Cardlink, powered by Found.ation, invites all visionary innovators to join forces in shaping the future of retail. Submit your proposals now, and together, let’s redefine the retail landscape and create unparalleled customer experiences.

The call for submissions is open until 03/12.

Apply now and be a part of the revolution!