Wednesday, July 26, 2017
Kering, Plug and Play, and fashion for good see first edition of start-ups graduate from accelerator programme and unveil second batch
The Plug and Play—Fashion for Good Accelerator announced the graduation of its inaugural batch of start-ups and unveiled the innovators that will join the programme’s second edition. A collaboration between Fashion for Good (with C&A Foundation as founding partner), Plug and Play and corporate partners Kering, Galeries Lafayette Group and C&A, the Accelerator identifies innovative start-ups in sustainable fashion and supports them in scaling-up their technologies, methodologies and business models. As such, the partners aim to stimulate disruptive innovation, transform conventional production processes and thus enable the widespread adoption of sustainable and circular practices across the textile industry.
Over the past twelve weeks, the inaugural batch of start-ups was housed at Fashion for Good’s hub in Amsterdam, where they followed a robust curriculum including mentorship and training by Kering and C&A senior management, deal flow sessions with potential strategic partners and links to investors. Through this holistic programme, the Accelerator aims to ensure that the innovators’ solutions are market-ready. In addition, select start-ups are eligible to receive between $25,000 to $75,000 in funding to support the scale-up of their sustainable innovations. Marking their graduation, the first batch of start-ups presented their developed business models to an audience of investors and corporate partners at a Demo Day event held in Amsterdam last week.
Following this successful inaugural edition, a second batch of start-ups will join the Plug and Play—Fashion for Good Accelerator in September. From over 200 applicants and a shortlist of nineteen, ten start-ups from around the world – representing varied fields and backgrounds – have been awarded a place in the Accelerator: Carcel, Circular Systems, Colorifix, Ecofoot, Eon ID, LiteHide™ by LeatherTeq, Nature Coatings, Norman Hangers, Spindye, and A Transparent Company. The Accelerator’s partners will work with these start-ups to improve the textile industry’s approach to water use, energy use, waste, chemical use and labour practices, for this, the Accelerator’s second twelve-week programme.
A global Luxury group, Kering develops an ensemble of luxury houses in fashion, leather goods, jewelry and watches: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Boucheron, Dodo, Girard-Perregaux, Pomellato, Qeelin and Ulysse Nardin. Kering is also developing the Sport & Lifestyle brands Puma, Volcom and Cobra. By ‘empowering imagination’, Kering encourages its brands to reach their potential, in the most sustainable manner. The Group generated revenue of €12.385 billion in 2016 and had more than 40,000 employees at year end. The Kering share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).