For the first time, RILA’s Retail Innovation Center simultaneously ran its Startup Innovation Awards for Asset Protection and Supply Chain, which received submissions from around the world all aimed at answering retailer’s most pressing challenges. These submissions were judged by a panel of RILA member experts in each field, representing a variety of retail sectors. Each submission was judged on the following criteria:
How innovative is the startup's technology?
How well equipped does this startup appear to meet retailers' need for SPEED and SCALE?
How well does this startup meet the Retail AP/SC Challenge(s) listed in their application?
Is this a startup that you would be excited to follow/work with over the next 5-10 years?
Based on the criteria, six startups were selected as finalists for the 2021 Startup Innovation Awards. These startups will have the chance to pitch on the main stage at RILA’s upcoming Retail Asset Protection and LINK: Supply Chain conferences which will be collocated in Orlando, FL August 17-20. Startups this year will have the unique opportunity to network with executives from across the Retail Operations pool and two winners will be announced based on attendee votes.
Asset Protection Finalists:
RILA’s Startup Innovation Awards for Asset Protection recognize outstanding startups enabling retailers to tackle top in-store AP challenges like associate safety, product loss, and frictionless operations without compromising the customer experience.
rapitag - rapitag improves the store checkout, whether it's a lane, an SCO station, or an mPOS! Our retail IoT combines classic EAS tags with smart Bluetooth locks. Customers can remove the tags by themself with a trackable token after mobile payment in a secure (mobile) Self-Checkout with a lower risk of theft or COVID-related infections. This way we cut down on tag removal time and physical contacts, which saves billions of labor costs and lost revenue. In 2021 we will start several pilots with major US retailers.
VIPER: Enterprise Acceleration - VIPER’s AI gathers data from throughout the retailer client’s enterprise; allowing the system to identify, isolate, and quantify costly “inefficiencies” from throughout the entire retail enterprise. VIPER drives action to the root causation of the issue through highly prioritized, actionable, & closed-loop tools and features. VIPER will deliver 1%-3% of a client’s yearly revenue to the bottom line of the P&L, backed by our VIPER guarantee.
Focal Systems - Through FocalOS, Focal Systems is helping AP teams at leading retailers on multiple fronts. Focal shelf cameras throughout the sales floor monitor products to manage inventory and report on shelf sweeps of high shrink items giving AP real-time visibility into when these events occur. Via computer vision, Focal is also helping retailers manage health and safety regulations by providing alerts when emergency exits are blocked or e-comm order fulfillment has bins stacked too high.
Supply Chain Finalists:
RILA’s Startup Innovation Awards for Supply Chain recognizes agile startups using technology to advance today’s supply chain practices. The COVID-19 pandemic created unprecedented challenges, accelerating the need for improved global supply chain flexibility. As consumer demands shift, the desire to purchase goods and services anytime, anywhere is driving today’s dynamic retail environment.
SVT Robotics - In 2020, SVT Robotics launched the SOFTBOT™ Platform, an agnostic integration software technology that enables companies to rapidly integrate and deploy industrial robotics to their warehouse or manufacturing facility in just hours or days, rather than months or even longer. Through the SOFTBOT Platform, businesses integrate and connect any enterprise system to any robot or automation for any task at revolutionary speed and without the need for custom code, reducing risk and cost.
OnRout - OnRout reduces shipping costs by 10%, and greenhouse gas emissions by up to 41% for large eCommerce retailers. OnRout is a real-time bidding platform for parcels. When a carrier bids on a parcel, they can bid lower if they are already going to that address or a neighboring one. By allowing carriers to provide prices in real-time (as opposed to the current static rate card system), OnRout drives route consolidation, lowering costs for all parties, & reducing urban congestion.
Zeelo - Zeelo is a mobility tech company specializing in shift-worker employee commuting. We built a smart algorithm allowing home-to-work routes, and rider & driver mobile apps to service routes. We also take full ownership of the operational transport process. We support supply chains: allowing employers to improve recruitment & retention by offering corona-safe, easy-to-use commute services, flexible to address peak times; reduce parking lots pressures; whilst saving on CO2 emissions & contributing to CSR goals.
Want more startups like these? Join the Retail Innovation Center on June 24 at noon ET for a Startup Network Pitch Showcase. Four startups will take the stage to share how their solutions are designed to answer some of retail's most pressing challenges. Each startup will also be on-hand for Q&A following their pitch.
Be sure to browse RILA’s Startup Network and see what other startups could potentially answer your biggest organizational challenges. You can also find more pitch videos and webinars in the Retail Innovation Center’s Insights on-demand.
The Retail Compliance Center provides this external link for informational purposes and cannot vouch for the accuracy or completeness of the information.
