John Lewis and TrueStart launch start-up initiative

By

Cajsa Lykke Carlson

Published
Jul 29, 2016

John Lewis, the UK department store retailer, is currently working together with European retail and consumer accelerator and investment fund TrueStart on The Eureka Initiative.

This will see start-ups within TrueStart’s own accelerator programme, The Collection, gain exposure to John Lewis' retail capabilities. The intention is to make the best ideas from the start-ups a commercial reality.

Among the start-ups taking part is Photospire, which is backed by TrueStart and is a technology platform that enables retailers and brands to create real-time, personalised video content for its customers. It's currently in discussion with John Lewis about activities that target the retailer's customers, with product recommendation videos tailored to individual customers.

Tom Athron, Group Development Director at the John Lewis Partnership, said: 'The John Lewis Partnership began life as a brave entrepreneurial experiment. By collaborating with TrueStart we will be supporting the future growth of our company by partnering with like-minded entrepreneurs and fast tracking their ideas. I firmly believe that all businesses focused on growth in a rapidly changing world will need a few eureka moments to thrive.'

Matt Truman, CEO at True Capital, the retail and consumer sector-specialist private equity firm which owns TrueStart, said: 'TrueStart looks to work with genuinely disruptive businesses that have the potential to inform real change in the retail sector. I am delighted to welcome the John Lewis Partnership on board as our latest strategic partner.'