MINNEAPOLIS — More than 500 start-ups from 32 states and 45 countries applied to be admitted to the Target + Techstars Retail accelerator program.

According to an article in the Minneapolis/St. Paul Business Journal, the accelerator will name 10 winning companies that will move into 8,000 square feet of space at Target Corp.’s Minneapolis headquarters this summer, where entrepreneurs will receive mentoring from Target executives and Techstars.

Ryan Broshar, considered a Minneapolis technology guru, was appointed by Techstars to lead the accelerator, and Target vice president of internal innovation and operations and entrepreneur-in-residence West Stringfellow will choose winning start-ups for the 13-week program. “It’s our responsibility to take a leadership position,” remarked Stringfellow.

Applications came from as far away as Australia, Greece and Nigeria, Target said in a blog post. Product ideas that applicants submitted included virtual fitting rooms and connected toys.

Techstars, based in Boulder, Colo., will present winning companies with $20,000 for a 6% stake in their operations as well as retain the option of taking another $100,000. The focus is expected to be on innovations throughout the supply chain as well as to demonstrate new methods of integrating digital and in-store experiences.

Last October, Target issued a call to start-ups worldwide to apply for the accelerator program. The 10 start-ups are expected to relocate to Minneapolis starting in June for the program, which continues through late September. Once arriving in Minneapolis, the start-ups will be provided with resources and guidance from such mentors as chief strategy and innovation officer Casey Carl, president of Target.com.

“We know that technology will continue to revolutionize retail, and that Target’s future will be built on innovation,” Carl commented when the program was announced last fall.

Techstars has been hailed for its significant track record in several other cities throughout the United States in helping start-ups evolve from small businesses to thriving operations. Its boot-camp-like programs help the small entities overcome numerous obstacles while providing them with incentive financial resources. Techstars has also operated similar programs — in a number of cases with major companies across the country — for almost a decade.

For its part, Target hopes to benefit from new ideas that will bolster its in-store and online business as well as the local technology community. “Not all of the best ideas in the world exist solely within our four walls,” said one Target executive.