- What are the goals of the program?open
Program goals and strategies are not a one size fits all – we tailor services and strategies to a company’s needs. Earlier stage companies with a completely ready-for-market product or service, positive early feedback, and a base level of support will need to grow clients and revenues. In this case, we will assist heavily in brand positioning and product proofing, and provide the fundamental support necessary to build revenues. Later stage companies, with revenues but a shallow client base, face the basic problem of achieving sustained growth. For these companies, we will focus on fine tuning the offerings and positioning the company to raise capital, make deals, and ultimately to grow.
- How does the program aim to achieve these goals?open
We specialize in market development services and provide go-to-market services, market validation, and market recognition. We will help you generate revenues and connect your company with prospective partners and key customers, so you can build relationships that accelerate the growth of your business.
- How does the program work to achieve these goals?open
When you arrive on the first Monday, you will meet one or both the principals of the Fashion Technology Accelerator (FTA) team for an in-depth, one-on-one, meeting. During this initial meeting, we mutually create goals, develop an individual plan for achievement, and determine how we can add maximum value.
We will also make regular progress checks against the plan at least every two weeks to ensure you are on track to meet your goals and to make any changes necessary. Twice a week (Tuesdays and Thursdays), we will focus heavily on developmental business of FTA attendees.
Another day will have intensive, individual company meetings with the principals of the FTA team and our advisers. The remainder of the week will be dedicated to individual business activities and the execution of assignments and projects necessary to advance the respective businesses.
- Can I anticipate a significant amount of collaboration with the other selected companies?open
Each company is encouraged to collaborate with the rest of the group. The goal is to deliver and maintain open sharing, honest critique, and mutual support. Collaboration will also be possible at frequently scheduled events, lectures and speeches from selected guests, advisers and other outside experts.
- How I will divide my time? open
Along the way, there will be work you must do by yourself. Ultimately, we aim to build your self-confidence and skills so that you can deal effectively with the prospective partners. If you need and/or want it, we have extensive coaching experience in this regard. Additionally, there is “work” that you will do with the other entrepreneurs. We fully expect that you will build friendships, make great business connections, and share knowledge and views with similar entrepreneurs that may prove priceless.
In general, you will divide your time between:
Attending to your existing business
Spending time with the Advisory Team
Continuing to work towards milestones on your individual plan
Preparing for meetings with potential partners
Interacting with other companies in residence at the Accelerator
- What does my individual plan look like?open
This answer depends on the initial plan we agree on. In most cases, the primary goal is to gain customers who can help your company, gain initial market traction, and to secure business and technology partnerships.
The initial part of the program focuses on packaging and positioning your business. In the second phase, you receive go-to-market help. Our principals and advisers will discuss with you the best strategy to create connections with retailers, strategic partners, etc. and work hard with you to open doors of potential strategic partners and key customers.
- Do you plan to organize events?open
Yes. The principals of the FTA team and advisers invite strategic partners and potential investors to meet you at the accelerator or prepare a meeting for you at the potential strategic partner HQ.
However, the events are only a part of the story. The Accelerator also attracts entrepreneurs, investors, and brands from all over the world to exchange ideas with our selected companies about the present and future of fashion technology.
- What if a strategic partner or a potential investor wants to meet me in person?open
Whether the strategic partner or potential investor would like to come to the Accelerator to meet you or have you meet at their office, we will prepare you for that meeting. If the meeting is at the Accelerator, we will make sure the meeting space is prepared and ready to make a good impression.
- What happens at the end of the Accelerator?open
The final phase of the Accelerator is to conduct an assessment and valuation of your participation, where our principals and advisers will check your progress and results and prepare a list of to do’s. In the end, your company will be introduced to potential investors.
Please note: the end of the program is not the end of your relationship with the accelerator and, more important, your relationship with our senior advisers.
We will continue to help your company through ongoing events and leveraging our network on your behalf. We consider membership in this community to be long term and anticipate continuing to have a mutually beneficial role with your company long after you have left the FTA Accelerator.