African fashion entrepreneurs and businesses are encouraged to apply for the Fashionomics Africa incubator and accelerator programmes through the African Development Bank’s call for proposals.
The eight-week-long accelerator and incubator programmes will, among other things, involve training, a pitching event and cash prizes.
Twelve finalists will compete for the top four prizes of $20,000 each. And the winners will use the cash prizes to expand their businesses.
Overview of the Programme
The curriculum and content will be divided into separate incubator and accelerator programmes, with an emphasis on strengthening business and financial models, investment readiness, branding, marketing, digitization, and sustainability.
Who Can Apply?
Participants who can present an identification card such as an international passport, national ID card, or voter card issued in an African country, are eligible to enter the competition.
Candidates must be between the ages of 18 and 35 years. Note that women-owned fashion businesses will be given special preference.
Fashion entrepreneurs are encouraged to apply, including but not limited to fashion designers, accessory designers, textile designers, fashion illustrators, fashion photographers, technology-enabled fashion businesses and service providers whose primary focus is fashion.
Specific Selection Criteria
- Fashion business entities must be under three (3) years and could either be registered or not registered.
- The fashion business must have deployed a proof of concept, at the micro, small or medium level.
- Must have a clear and detailed description of the fashion business.
- Entities should be formally registered as a business in the African country of operation.
- The fashion business/startup needs to be at the growth stage (must have existed for at least 3 years, have solid traction with clear product and sale channels and customer base).
Timelines
- The call for applications opened on October 14, 2022, and will last till October – 23rd, 2022.
- The selection and onboarding process will commence on October 24 and last through to October 28, 2022.
- The online incubator and accelerator programmes will commence on October 31st and end on December 20th, 2022.
- The shortlisting of 12 fashion entrepreneurs will happen on December 21, 2022.
- The pitching day is on January 26, 2023.
- The award ceremony is on January 31st, 2023.
Learn more here.
The African Development Bank’s Fashionomics Africa initiative aims to increase Africa’s involvement in the global textile, apparel, and accessory value chains.
The goal is to support the expansion of the micro, small, and medium-sized businesses that dominate this industry by providing them with access to markets, market intelligence, and financing opportunities.