Welcome!

Weblogic Authors: Yeshim Deniz, Elizabeth White, Michael Meiner, Michael Bushong, Avi Rosenthal

News Feed Item

Iterate Studio Launches First Independent Proof-of-Concept Lab for Retail Companies

Team of Retail Veterans Lead Discovery, Curation, and Validation of Emerging Technologies at Rapid-Fire Pace

PALO ALTO, CA -- (Marketwired) -- 06/10/14 -- Iterate Studio today announced the launch of the retail industry's first independent proof-of-concept lab aiming to speed the technology invention curve for retail firms. Join the 17 start-ups and 20 retail companies already participating at www.iteratestudio.com.

Today there are over 10,000 ecommerce companies in existence, with 2,000 more launching every year. Retail companies face a nearly impossible challenge trying to make sense of all those emerging, global technologies. To demystify the chaos, Iterate Studio curates those start-ups and then rapidly tests those showing the most promising business impact. Test results are shared amongst participating retail members, amplifying their ability to innovate quickly -- and reducing the advantage currently held by industry behemoths like Amazon and Walmart.

"We're not an accelerator with inherent bias," said Jon Nordmark, CEO and co-founder of Iterate Studio. "We're not a single start-up or a single technology. We are an agnostic supplier and tester of emerging technologies. That means that any start-up from any of the 400 global tech accelerators, from any VC, from any entrepreneur, is a candidate for testing. We don't discriminate based on how much money you raise, where you're based or who your investors are -- we democratize innovation."

The Iterate concept formed after its founders worked as board members for an Eastern European tech accelerator. They realized that European start-ups were having the same problems as TechStars/Y-Combinator grads: they couldn't persuade U.S. executives to answer their emails. Iterate's founders determined that large global and U.S.-based companies could innovate more effectively if all of those unique, test-worthy ecommerce technologies could be proof-tested before "bothering" executives of large companies. As one of Iterate's founders said, "The TechStars-for-after-TechStars had to be born."

How can smaller retail firms compete and quickly innovate?

As tech-focused companies like Amazon invade established retail and media markets, incumbent firms must adapt to the digital world. For example, Amazon spent $6.5 billion on R&D in 2013, as their revenues grew by $13.3 billion in 2013 (equal to six DSW chains). In response, Walmart and Staples have built Digital Labs. Walmart employs more than 1,200 people in Silicon Valley and has acquired 10-plus technology-related start-ups.

For most retailers, though, culling through thousands of uncertain technologies is expensive, time-consuming and prone to significant risk. As a result, many are turning to Iterate Studio and its entrepreneurial founders who methodically engage with the ecommerce start-up community worldwide, which represents the equivalent of a $10 billion annual R&D spend.

"Iterate bridges the gap between transformative technologies and a coalition of large company executives who need to test and consume those technologies faster," said Sapna Shah, founder of Red Giraffe Advisors who invested in the Iterate Studio seed round.

"The real win is getting the experiments done without devouring the time and resources of large company executives and their teams that are focused on mission-critical day-to-day activities," added Iterate investor Fred Soneya, co-founder of Haatch.com, a unique Investor / Incubator based in the United Kingdom.

How Iterate Studio Works

Iterate couples the R&D engine of the global start-up ecosystem with an orchestrated testing capability that lives inside real dotcom and mobile websites. Iterate's process is systematic, low-cost and includes the following benefits:

Discovers Thousands of Digital Solutions
Iterate finds technologies before they're widely visible. To discover qualified start-ups, Iterate's founders have established hundreds of relationships -- globally -- with accelerators, angels, venture capitalists and fellow entrepreneurs. In addition, some retailers elect to bounce all start-up solicitations to Iterate for cataloging and vetting.

Many start-ups are surfaced before they have hired a salesperson. This contributes to retail members getting an opportunity to lead the market, not follow it.

Curates Thousands of Digital Solutions
Iterate curates thousands of start-ups to pinpoint the subset with the best probable business impact. As part of the curation process, start-ups pass through financial tests, load tests and early adopter reference-checks.

Removing Tradition Roadblocks
Before testing a start-up, historically, a large company would write an ROI (without having data) and negotiate a contract or MSA to formalize licensing and mutual legal protection. Then, it would insert the start-up's technology into an oversubscribed IT pipeline to install a test. This process could take between six months and a year.

Iterate removes those roadblocks. Acting similar to a general-contractor/sub-contractor relationship, Iterate's start-ups sign legal agreements allowing for the work with the large companies. This eliminates the need for re-arranging the IT pipeline, dozens of ROIs and one-off contracts.

Rapid Proof-of-Concepts
After curation, Iterate designs scientific proof-of-concept tests called Proof Protocols™. Then on behalf of members, Iterate installs and tests the high-potential technologies inside real customer dotcom and mobile site, intercepting 3 to 10 percent of live traffic.

In recent years, the confluence of cloud computing, JavaScript, A/B split test platforms and Tag Management solutions have made it easier to test technologies fast and safely.

Knowledge Sharing
Test results are shared as Perfect Insights™. Perfect Insights describe how a new service affects metrics like conversion rates, engagement, page views, frequency of visits and revenue per user. Those results are shared with cooperating retail and media members. This amplifies the innovation activities for members.

Triple the Tests
Iterate can double, triple or quadruple the number of experiments a large company does annually. This should double, triple or quadruple the success rate.

"What Iterate is doing totally makes sense for ecommerce-oriented retailers large and small," said Steve Papa, founder/CEO of Endeca, which was acquired by Oracle for $1.1 billion. "The value of getting innovation as it hits the market versus waiting for three years is enormous in today's rapidly evolving world."

Pricing and Availability

Retail member companies pay an annual subscription fee based on volume. Start-ups can join at no upfront cost. Visit www.iteratestudio.com for more information.

About Iterate Studio

Based in Silicon Valley, Denver, and NYC, Iterate Studio is a digital proof-of-concept lab that discovers and curates emerging technologies, then implements proof-tests for an exclusive members-only group of non-competing retailers and, soon, media brands. Iterate reduces time, costs and risks associated with analyzing and deploying innovative start-up technologies. Iterate is run by CEOs, investors and product veterans from the retail and media verticals. For press inquires please contact [email protected], follow us on Twitter @IterateStudio or visit IterateStudio.com.

Press contact
Kyle Peterson
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
SYS-CON Events announced today that Yuasa System will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Yuasa System is introducing a multi-purpose endurance testing system for flexible displays, OLED devices, flexible substrates, flat cables, and films in smartphones, wearables, automobiles, and healthcare.
SYS-CON Events announced today that CAST Software will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CAST was founded more than 25 years ago to make the invisible visible. Built around the idea that even the best analytics on the market still leave blind spots for technical teams looking to deliver better software and prevent outages, CAST provides the software intelligence that matter ...
SYS-CON Events announced today that Daiya Industry will exhibit at the Japanese Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ruby Development Inc. builds new services in short period of time and provides a continuous support of those services based on Ruby on Rails. For more information, please visit https://github.com/RubyDevInc.
SYS-CON Events announced today that Evatronix will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Evatronix SA offers comprehensive solutions in the design and implementation of electronic systems, in CAD / CAM deployment, and also is a designer and manufacturer of advanced 3D scanners for professional applications.
As businesses evolve, they need technology that is simple to help them succeed today and flexible enough to help them build for tomorrow. Chrome is fit for the workplace of the future — providing a secure, consistent user experience across a range of devices that can be used anywhere. In her session at 21st Cloud Expo, Vidya Nagarajan, a Senior Product Manager at Google, will take a look at various options as to how ChromeOS can be leveraged to interact with people on the devices, and formats th...
SYS-CON Events announced today that Taica will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Taica manufacturers Alpha-GEL brand silicone components and materials, which maintain outstanding performance over a wide temperature range -40C to +200C. For more information, visit http://www.taica.co.jp/english/.
SYS-CON Events announced today that SourceForge has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SourceForge is the largest, most trusted destination for Open Source Software development, collaboration, discovery and download on the web serving over 32 million viewers, 150 million downloads and over 460,000 active development projects each and every month.
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities – ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups. As a result, many firms employ new business models that place enormous impor...
SYS-CON Events announced today that TidalScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale is the leading provider of Software-Defined Servers that bring flexibility to modern data centers by right-sizing servers on the fly to fit any data set or workload. TidalScale’s award-winning inverse hypervisor technology combines multiple commodity servers (including their ass...
As popularity of the smart home is growing and continues to go mainstream, technological factors play a greater role. The IoT protocol houses the interoperability battery consumption, security, and configuration of a smart home device, and it can be difficult for companies to choose the right kind for their product. For both DIY and professionally installed smart homes, developers need to consider each of these elements for their product to be successful in the market and current smart homes.
SYS-CON Events announced today that MIRAI Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MIRAI Inc. are IT consultants from the public sector whose mission is to solve social issues by technology and innovation and to create a meaningful future for people.
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, will lead you through the exciting evolution of the cloud. He'll look at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering ...
As hybrid cloud becomes the de-facto standard mode of operation for most enterprises, new challenges arise on how to efficiently and economically share data across environments. In his session at 21st Cloud Expo, Dr. Allon Cohen, VP of Product at Elastifile, will explore new techniques and best practices that help enterprise IT benefit from the advantages of hybrid cloud environments by enabling data availability for both legacy enterprise and cloud-native mission critical applications. By rev...
SYS-CON Events announced today that Dasher Technologies will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Dasher Technologies, Inc. ® is a premier IT solution provider that delivers expert technical resources along with trusted account executives to architect and deliver complete IT solutions and services to help our clients execute their goals, plans and objectives. Since 1999, we'v...
SYS-CON Events announced today that NetApp has been named “Bronze Sponsor” of SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. NetApp is the data authority for hybrid cloud. NetApp provides a full range of hybrid cloud data services that simplify management of applications and data across cloud and on-premises environments to accelerate digital transformation. Together with their partners, NetApp emp...
SYS-CON Events announced today that TidalScale, a leading provider of systems and services, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale has been involved in shaping the computing landscape. They've designed, developed and deployed some of the most important and successful systems and services in the history of the computing industry - internet, Ethernet, operating s...
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant tha...
SYS-CON Events announced today that Massive Networks, that helps your business operate seamlessly with fast, reliable, and secure internet and network solutions, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. As a premier telecommunications provider, Massive Networks is headquartered out of Louisville, Colorado. With years of experience under their belt, their team of...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
Infoblox delivers Actionable Network Intelligence to enterprise, government, and service provider customers around the world. They are the industry leader in DNS, DHCP, and IP address management, the category known as DDI. We empower thousands of organizations to control and secure their networks from the core-enabling them to increase efficiency and visibility, improve customer service, and meet compliance requirements.