2023 AfdB Fashionomics Incubator and Accelerator Programs For Young Africans
AfdB Fashionomics Incubator and Accelerator Programs is for African Fashion, Textile, Apparel and Accessories entrepreneurs and businesses to apply and benefit from the Fashionomics Africa Online Incubator and Accelerator programs.
The programs’ duration will be 8-weeks each and the content will be available in English, French, Arabic and Portuguese.
Through a competitive process, the most promising fashion entrepreneurs will be invited to pitch their business ideas at the online Fashionomics Africa Pitching Days Competitions, resulting in 12 finalists each from the incubator and accelerator programs, who will vie/compete for the top 2 prizes of 20,000 USD each to scale up their operations.
Details:
Fashionomics Africa is an initiative of the African Development Bank that aims at increasing Africa’s participation in the global textile, apparel, and accessories value chains. The objective is to support the growth of micro-small and medium-sized enterprises that dominate this industry, equipping them with the necessary business skills, financial acumen, access to markets, market intelligence, and financing opportunities to scale up their businesses in an increasingly digitalized economy.
The initiative is launching the Fashionomics Africa incubator and accelerator programs to build sustainable business models and access financing opportunities. The curriculum and content will be structured in separated incubator and accelerator programs, focused on improving the marketability of early stage (incubator) and growth-oriented start-ups (accelerator) to financiers through an emphasis on strengthening business and financial models, investment readiness, branding, marketing, digitization, sustainability and circular economy actions applied to the industry, and outlining preparations for the capital raising process through detailed coursework on entrepreneurial finance.
Requirements:
To be considered for the program, you must:
- The competition is open to participants who can provide an identification document like a passport, national ID card or voters card issued in an African country, and/or domiciled in African countries.
- Applicants should be 18 years of age and above. Priority will be given to youth (18-35) and women-led fashion businesses.
- Any fashion 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.
- Applicants should have an existing account on the Fashionomics Africa Platform or create one here.
Duration and Reward
The programs’ duration will be 8-weeks each and the content will be available in English, French, Arabic and Portuguese.
Through a competitive process, the most promising fashion entrepreneurs will be invited to pitch their business ideas at the online Fashionomics Africa Pitching Days Competitions, resulting in 12 finalists each from the incubator and accelerator programs, who will vie/compete for the top 2 prizes of 20,000 USD each to scale up their operations.
Timelines
- Call for applications: 6-22 February 2023
- Selection and onboarding: 23-28 February 2023
- Online incubator and accelerator programs: 9 March – 28 April 2023
- Shortlist of 12 fashion entrepreneurs: May 2023
- Pitching/demo day: End of May 2023
- Award ceremony: June 2023
Method of Application
Interested and qualified applicants should apply using the link below.
To apply for the programs:
- Log in to your Fashionomics Africa account if not done yet.
- Select your prefered language below.
- Complete the field “how old is your business?”
- Click on “start my application” and complete the questionnaire that will appear.
