According to Tech Republic, Walmart is launching a new startup incubator as it pushes further into tech to enhance its e-commerce services and compete with online retailers such as Amazon.
The incubator, named Store No. 8, will partner with venture capitalists, startups, and academic institutions to develop new retail tech in robotics, virtual and augmented reality, machine learning, and artificial intelligence.
Interestingly, it won’t be visibly tied to Walmart to give companies the chance to develop without being under the looming Walmart shadow.
The retail giant is busy revamping its e-commerce lineup, which became apparent last summer when Walmart acquired Jet.com for $3.3 billion. This year, Walmart has already acquired popular online retailers ModCloth, Moosejaw, and ShoeBuy, which are deemed to be disrupters in the online marketplace.
For more information about how Walmart is entering the tech startup game, visit http://www.techrepublic.com/article/walmart-launches-new-tech-startup-incubator-as-e-commerce-war-with-amazon-heats-up/