This week Target announced a new partnership with BCG Digital Ventures to conduct a 14-week “innovation sprint” where the consulting groups experts (including designers, engineers, and investors) are working side-by-side with five Target team members to develop a portfolio of new growth ventures. The goal: Tap the Target team’s skills and experience to explore new and compelling business cases that are natural extensions of our brand and expertise, and support the retailer’s strategic priorities.
Big ideas spring from individuals and teams at every corner of business and this presents a unique opportunity for Target associates to work outside their current roles and gain an understanding of Digital Ventures’ innovation methodology. New products and businesses that come out of the sprint will be designed to address the needs of Target’s customers now and well into the future.
“This is a unique partnership with tremendous potential—and we’re excited about the passion, inventiveness and entrepreneurial commitment being brought to bear from Target and Digital Ventures,” said Anthony Koithra, partner, BCG Digital Ventures.
The five selected team members are working out of Digital Ventures’ centers in New York and Los Angeles—and will be split into groups doing immersive customer behavior research in six cities across the country. Each group has a mix of Target and Digital Ventures team members ranging from ethnographers to venture capital investors, product managers to designers, engineers to growth specialists, and more.