Call for Applications: AfDB’s Fashionomics Africa Online Incubator and Accelerator Programs
The African Development Bank ( AfDB) has announced the launch of the Fashionomics Africa Online Incubator and Accelerator Programs, which gives participants the opportunity to pitch their projects and receive US $20,000 in seed funding.
The Bank, through the support of the Youth Entrepreneurship and Innovation Multi-Donor Trust Fund (YEI-MDTF) and the Fund for African Private Sector Assistance (FAPA), is scaling up the Fashionomics Africa Masterclass approach by turning the existing curricula into an online format.
The curriculum and content of the Fashionomics Africa Masterclasses will be structured into an incubator program and an accelerator program: the incubator program will support early-stage fashion entrepreneurs and businesses to grow their projects, build sustainable business models and access financing opportunities; the accelerator program will focus on growth-stage fashion businesses that are working to build a customer base, maintain cash flow and expand their product lines or markets.
The programs, which come in four languages – English, French, Portuguese, and Arabic – are open to all African fashion entrepreneurs, startups or micro, small and medium enterprises (MSMEs) operating in the fashion ecosystem, including but not limited to fashion, textile and accessories design and making, fashion illustration, fashion photography, technology-enabled fashion businesses, and service providers whose main sector of focus is fashion.
The 8-week online training will provide African fashion entrepreneurs with the necessary entrepreneurial skills, financial acumen and sector-specific market intelligence to strengthen their businesses in an increasingly digitalized economy. Participants will also be supported to build sustainable and circular business models in a context where the environmental and social challenges are high. All training modules will be made available on the Fashionomics Africa Digital Marketplace and Mobile App.
Upon completion of the online courses, top fashion entrepreneurs will receive personalized support to develop their business models and access pitching and networking opportunities. They will also get a chance to pitch in front of industry experts and investors during the Fashionomics Africa Pitching Days where four winners will be rewarded with prizes of up to $20,000 each to scale up their operations.
To learn more about the Fashionomics Africa online incubator and accelerator programs or to submit an entry, click here. Applications must be received by 23 October 2022 at 23:59 GMT. To apply, participants are required to fill out an online form which takes a few minutes to complete.