We were pleased to earn recognition, in a recent special report by Retail TouchPoints on Innovation Labs, alongside well-known labs run by Neiman Marcus, Lowe’s, Westfield Malls and others.
RevTech Ventures Relies On Retail Mentors To Steer Investments
One of the big dangers with any innovation lab is that they “tend to produce solutions looking for problems,” according to RevTech Ventures’s Managing Director David Matthews. To help keep innovations on track, Mathews relies on mentors with real- world retail experience. “The best mentor is someone who has just left retail, like Cary Turner, who was the COO at Pier 1 Imports for 20 years,” said Matthews. “He has become a fabulous mentor for two of our investments, because his knowledge and experience provide the ‘reality check’. Is the solution needed? And if not, can it be reengineered into something that is needed? We want the inventors to walk in the moccasins of the retailer so they know what it means to get an idea understood, proven and deployed.”
Read the entire article here: rtp_rt103_sr_innovationlabs_stratacache_dec_2016_final