This content is the fifth installment in an interview series with the 2020 Target Tech Accelerator cohort. Participating companies are sharing, in their own words, details about their innovative companies. All interviews have been conducted by the Target Tech Program Management team.
Tech: When meeting someone new, how do you explain what RADAR does?
Spencer: I tell them that we have sensors that go on the ceiling that use cameras + RADAR to know where all people and items are. Once we know this, we can do stuff like tell the store what items are missing from the shelf, what people tend to interact with, and what someone is walking out the door with so we can charge them automatically.
Tech: What makes you most excited about working with Target Accelerators?
Spencer: It’s an opportunity to work with a retailer that stands out from the pack in terms of their commitment (and track record) to innovation.
Tech: How did you know when it was time to consider going through an accelerator experience?
Spencer: As the product matured it became clear that having an early partner to help coach us and work with us would be critical for us getting to the next step in our trajectory.
Tech: What has surprised you about yourself as your business has grown?
Spencer: The once abstract weight of looking out for an organization full of people that you care about has become very real. It is much harder than I could have anticipated and the amount of (painful) growth you can go through in a short period of time is astonishing.
Tech: Who has been instrumental in supporting your idea and why?
Spencer: Victoria Grace (managing partner of Colle Capital). She has been a strong supporter in both good and bad times and has had my back even when I wanted to do things that others perceived as too risky.
Tech: As a business owner/founder, how are you functioning today that is different than how you were functioning 6 months ago?
Spencer: I deal with uncertainty and leaps of faith more easily. I used to agonize more over decisions that were “irreversible”. Not making a decision is a decision in and of itself.
Tech: What advice would you give to other entrepreneurs who are navigating this current environment?
Spencer: Show decisiveness and conviction. Don’t leave things up to chance. Be strong for your team.
Tech: Where do you see yourself and your business 6 months from today?
Spencer: Installed at several large retailers and moving to the next phase of a deployment strategy ahead of closing our Series A.
Learn more about RADAR by visiting goradar.com