Future Group along with along with National Innovation Foundation (NIF), Department of Science & Technology, and Government of India has announced a strategic tie - up to form an innovation lab called “Khoj Lab” that will create and support grassroots innovations and create a marketplace for them.
Future Group is among India’s leading business houses and operates some of India’s most popular retail chains like Pantaloons, Big Bazaar, Food Bazaar Central, eZone and Home Town, apart from other businesses.
In a first of its kind initiative in the country, Khoj Lab will combine Future Group’s own consumer insights with products developed by innovators associated with National Innovation Foundation to create affordable and sustainable products that are designed keeping in mind the needs of Indian consumers.
The partnership is also aimed at reducing the seeming immeasurable distance between the market and indigenous innovation. Future Group will also help in creating the market for innovations by carving a market space for indigenous ingenuity. Khoj Bazaar, a space within Big Bazaar will be created to let the consumers buy into not just the products but also the idea of indigenous innovations.
This space will carry the thrill of being a part of a larger idea. It will be a brand with constantly refreshed lines of products. Khoj Bazaar will make innovation earthy, real and immediate in the impact it has on consumer lives.
“Khoj Lab” will support and incubate grassroots innovations with the focus on Perspective building, Innovation Spotting, Design and Market integration.
Announcing the tie – up, Ms. Ashni Biyani, Director, Future Ideas, Future Group said, “Our aim is to create demand for the products developed by the Honey Bee Network supported by NIF by leveraging the retail network we have developed across the country.”
“NIF has excelled in supporting Indian innovators who develop products that are uniquely designed for Indian consumers. And by creating a large enough market for these products, we will make these products commercially viable as well as encourage innovation, create income and generate employment for a vast number of people across the nation.”
