Mango is investing £ 2.5 million in fashion start-ups
A few months ago Mango announced it is creating a £2.5 million fashion start-up accelerator fund to help up to 50 companies develop their fashion businesses. For those who don’t know, an accelerator typically helps early-stage companies which have developed a product to grow faster. They provide mentorship and business support in exchange for equity payments.
To apply for funding like this we would recommend you develop your product and start selling online first. You may also need to make a plan outlining how investment could help you accelerate growth. Do you need help developing your product ready for investment? Request a free confidential idea review.
Innovate UK (not us!) launches £ 4 million circular fashion funding
There is a big demand for products that can help with the circular economy, especially in the fashion and textile space.
Innovate UK, part of UK Research and Innovation is offering UK businesses a share of £ 4 million to develop products which can help with the sorting and recycling of fashion and textile-based products. Project plans need to be submitted by 11 January 2023. For this type of funding, we recommend you develop a concept design and create a roadmap showing how you plan to get from your concept to a working prototype, including cost estimates. Book a confidential idea review if you would like our help developing your product for this opportunity or to be ready for the next one.
Creator tip – think high-end
For the creators out there, the recession might see a reduction in consumer spending in certain markets, but the luxury market may continue to buck the trend and see sales increase. Consider creating a high-end version of your product made from premium materials with an expensive price tag. You may find your most expensive product generates the most profit in the short term.
Fashion and textile products are in demand
What’s your idea?
If you have a fashion or textile-based product idea we can help you develop your product, place manufacturing orders and create a website to sell your products from. Book a confidential idea review with one of our innovation advisers to find out more.