The African Development Bank is working with Eyecity Limited and IMPACT Lab to execute the Online Fashionomics Africa Masterclasses – Incubator Program that will enable African entrepreneurs operating in the Fashion, Textile, Apparel and Accessories (TA&A) industry to grow their businesses.
Applications to this program open today, the 10th October, 2022.
The Online Fashionomics Africa Masterclasses – Incubator Program is an initiative of the African Development Bank that aims to increase Africa’s participation in the global textile and fashion industry value chain. The incubator program will be focused on early-stage Micro, Small and Medium Enterprises (MSMEs) in the fashion, textiles, apparels, and accessories industry that has at least deployed a proof of concept.
The aim is to support the entrepreneurs to grow their projects, build sustainable business models, and access financing opportunities
The following are the selection criteria for the incubator program:
- Applicants should have an African passport or live in an African country or have an identification document like a national ID Card or Voters Card issued in an African country.
- Applicants should be 18 years of age and above. Priority will be given to youth (18-35) and women-led fashion businesses.
- Any fashion start-up, micro, small and medium-sized enterprises (MSMEs), or fashion entrepreneurs operating in the fashion ecosystem, including but not limited to fashion designing and dressmaking, accessories design and making, textile design, fashion illustration, fashion photography, technology-enabled fashion businesses, and service providers whose main sector of focus is fashion, are welcome to apply.
- Business entities under three (3) years, either registered or not registered
- The fashion business has at least deployed a proof of concept, at the micro, small or medium level
- The application provides a clear and detailed description of the fashion business
Selected applicants will be onboarded into an incubator program where they will receive:
- Access to curated resources to help them brand and grow their business.
- Access to a strong community and network of fashion, textiles, apparels and accessories ecosystem players across Africa.
- Opportunity to pitch for funding, up to $20,000.
- Access to specialized fashion business training, mentorship, and community-led events.
- Access to industry-relevant data insights about the African fashion ecosystem.
- Opportunities to pitch their fashion solutions and receive critical feedback and suggestions from industry experts.
The application form will require participants to complete a form which will take 3 to 5 minutes to complete.
Application deadline: 23rd October 2022.
Structure of the Program
- 8-weeks online program.
- Access to knowledge and resources for the 1250 beneficiaries of the program and expert training and mentorship for the top 400 participants.
- 2 Hours live classes weekly.
- Personalized support for the top 12 fashion entrepreneurs to develop their business models and pitching capabilities and provide networking support.
- Pitch day training, Demo Day and Award of up to USD 20,000 for final 2 winners.
- The recorded sessions will be made available on the Fashionomics Africa Digital Marketplace and Mobile Appin the following languages: English, French Portuguese, and Arabic.