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WalmartLabs Eyes Startup Partners In India

WalmartLabs is on the lookout for a few good innovations — most recently in India.

The digital arm of Walmart is in the country exploring potential partnerships with startups for the development of new technologies, The Economic Times reports.

Via the outlet, WalmartLabs Senior VP and CTO Jeremy King told PTI (Press Trust of India), “We have made 15 acquisitions [in India] in the last four years. We are meeting a few innovative startups in India and even look forward to partnering/working with 2–3 or even more in the near future.”

He added: “Part of the reason why I am out here is because we would love to make a deal or partnership or do some technology sharing with some of the startups this year.”

According to the Economic Times story, King believes that the evolution of the eCommerce market in India will result in related innovations.

“I would not be surprised if we have [a] lot more innovations coming directly from the Indian market,” he is quoted as saying.

In its search for startups, WalmartLabs has focused on those in the areas of data science, content and categorization.

“I am really interested in all those areas as supply chain, app tech-based business or any sort of mobile tech,” said King.

Regarding the company’s expansion of personnel, he remarked: “We opened WalmartLabs in Bengaluru four years ago with 20 people … and we are 800, and it would be over 1,000 next year.”

He additionally told PTI that WalmartLabs is hiring developers from IITs and other top-ranked colleges in India.

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Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. The July 2019 edition of the FI Innovation Readiness Playbook examines how the innovation playing field is leveling as small FIs implement bolder strategies and larger banks adopt more measured approaches.

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