Future Group, Indian-based leading retail company, has announced the launch of the Future C&D (consumer and digital) Lab in Bengaluru that will bring together companies working on next-generation innovations like blockchain technology.
According to Inc42, the Bengaluru-based lab will focus on bringing multiple teams and companies that are working in areas like blockchain, artificial intelligence, big data analytics, IoT, robotics and allied technologies. The lab will provide these companies with a ready access to test, experiment, and prototype their technologies across Future Group’s brand and retail platforms.
“The Future C&D Lab is aimed at co-creating next generation technologies for the consumer space in India. We are creating an open environment of collaboration with some of the best young Indian minds who are working with new technologies to create solutions that can impact the retail space over the next couple of years,” Kishore Biyani, founder, and CEO of Future Group, said.
Blockchain startups in India are gaining more attention in recent past. Recently, Block Armour, a Mumbai-based blockchain startup developed a next-gen cybersecurity solution on the blockchain that aimed at curbing the global phenomenon of cybercrime. Also, several financial institutions in the country enjoy existing partnerships with Ripple, Hyperledger, and Stellar blockchain platforms, among others.
The lab will be headed by Vivek Biyani, Director of the Future Group and the R&D activities will be backed by INR 100 Cr ($15.5 M) Accelerator Fund that will take care of the operations, technology development and IPR creation by the teams working at the lab.
The Bengaluru lab will comprise a team of technologists, engineers, data scientists, designers and consumer specialists. Working on those initiatives that influence consumer experiences in areas including payments, unique consumer identification, and development, the lab also plans to conduct hackathons and open workshops, among other events.
