Since launching in November 2019, the Foundry Powered by IFA Paris team has been on an international mission to scout out the inaugural cohort of fashion technology startups to join the Startup Program. The selected startups will embark on a 6-month intensive incubation journey inside the newly formed fashion technology innovation lab based at IFA Paris’ Paris campus. The pre-seed and seed stage companies will be taken through a program of workshops, mentorship and will be exposed to industry heavyweights in the bid to secure their first clients and rounds of funding. In addition, the entrepreneurs will have the opportunity to work with our partners such as IBM, Lectra and TG3D Studio to refine their solutions and businesses.
The first cohort covers a wide variety range of themes ranging from design solutions, cloud-based retail solutions, through to certification. The Foundry team saw many applications with a huge emphasis on solving issues surrounding sustainability, which is an indication of where the fashion industry should be investing their innovation resources on. The first round of startups include:
- Biz Bride, Pakistan, a marketplace for buying and selling of Pakistani womenswear.
- Court Folio, France, a sustainable fashion technology brand.
- The Good Brands, London, a verification platform for sustainable fashion.
- Project Style, France, a digital fashion platform.
- The Retouch, France, an online garment maintenance service. (IBM Future Innovation Award winner).
- Scizzor, London, creates 3D avatars, experiences and clothes.
- Speetra Design Studio, Lebanon, a 3d printing platform and innovation design studio.
Each startup was selected for the size of their ambition and vision to disrupt the fashion industry. Especially in uncertain times amidst the Coronavirus pandemic, the industry needs more startups that will help to revolutionise the fashion system.
Take that of Project Style’s ambition to spearhead the availability of digital fashion, or, The Retouch’s aim to remove the friction points of getting clothes repaired. Startups such as these will be changing the conversations that the industry will be having. The Foundry team and partners will be nurturing the entrepreneurs with a very hands-on approach.
“I’m excited to embark on an inspiring journey with the entrepreneurs inside our new fashion technology innovation lab. Ultimately cultivating fashion technology talent in Paris and pioneering fashion technology as a serious category in France.” – Peter Jeun Ho Tsang, Director of the Startup Program and Foundry Powered by IFA Paris.
For more information, please visit: Startup Program at Foundry