Following the first edition in late 2015, Ikea is launching its second ‘Mega Accelerator’ in Russia. Startups are expected to help “transform the MEGA shopping malls into spaces for meetings and relaxation, improve customer experience and optimize business processes.”
Owned, developed and managed by Ikea, MEGA is a leading chain of shopping centers across Russia. These malls attract some 275 million visitors each year, according to the Swedish group.
The application process for the accelerator opened on June 6, on a dedicated website, and will close on July 27. The selected teams will be invited to test and develop their ideas in the accelerator with the support of mentors.
Each selected team will receive 350,000 rubles (a little more than $5,900 at the current exchange rate) while the winner, who will be announced in June 2016, will get 2 million rubles (approximately $34,000).
“The Mega Accelerator is focused on testing the solutions, the basic aim to integrate solutions in the operation of the MEGA shopping malls,” said Daniil Kozlov, Director of Business Development and partner of Global Venture Alliance (GVA), a venture investment group that operates the accelerator.
This project is not the first incursion of the Swedish group into the startup playground. As early as 2008, Ikea announced a $50 million investment in green tech startups and joined the Cleantech Scandinavia initiative. In 2013, the group sponsored Flat6Labs Jeddah, the first startup accelerator in Saudi Arabia. In 2015, Ikea launched a research hub and exhibition space in Copenhagen “to explore the future of home design.”
