John Lewis’ JLAB talent “incubator” has picked a shortlist of five start-up companies to invest in. The five finalists will all be given initial funding of £12,500 as well as access to John Lewis’s technology and a mentor panel that includes execs from the retailer, as well as Confused.com founder Sarah Murray and Luke Johnson, chairman of venture capital firm Risk Capital Management.

Paul Coby, IT director at John Lewis, says: “We’re confident that the JLAB finalists each have an idea with real potential to either improve the shopping experience or offer customers something new to use in the home. I’m looking forward to working with them over the next few months to help make their ideas a reality.”

The launch of JLAB forms part of John Lewis’s 150th anniversary celebration.