Dive Brief:
- Shoptalk Ventures will commit $1 million in the next two years to a target of 20 e-commerce and retail technology startups, according to a press release.
- To catalyze the development of retail and e-commerce, Shoptalk will identify some of the most promising new companies in the industry, and become a partner in Commerce Ventures. The investment review, selection and due diligence will be managed independently by Commerce Ventures.
- The next Shoptalk conference is scheduled for March 18-21 in Las Vegas.
Dive Insight:
Getting financing is always the biggest challenge for startup companies, no matter how inspired their concept and business plan. Shoptalk apparently understands the benefits to its business, the startup's future and the larger industry in supporting them. Thus comes Shoptalk Ventures.
One million dollars may not seem like much anymore, but even several thousand dollars can mean a lot to a startup, helping it hire an expert or consultant, buy needed equipment, or perhaps just pay the rent. Shoptalk's partner, Commerce Ventures, has invested in more than 40 portfolio companies, including e-commerce and retail technology startups such as Estimote, Forter, Narvar, RetailNext, SessionM, Theatro, and Tulip Retail, according to Finsmes.
"Our goal with Shoptalk Ventures is to further support the early stage startup ecosystem that's enabling retail and e-commerce as it continues to transform for a digital age," Anil Aggarwal, founder and chief executive officer of Shoptalk, said in a press release. "We're thrilled to partner on this program with Commerce Ventures, which has a successful, sector-specific track record of working with the investment community to fund promising new companies."
