DURBAN – Truworths and Startup Hatchery have collaborated on a fashion incubator called the Truworths Fashion Incubator and it will benefit aspiring and existing fashion entrepreneurs.
The Fashion Incubator will mainly focus on the developing the business skills of fashion entrepreneurs. The incubator was developed by Startup Hatchery to immerse designers and entrepreneurs in a community designed to equip and propel upcoming fashion businesses.
Startup Hatchery is a virtual business incubator for entrepreneurs and they provide a hands-on learning experience through online entrepreneurship, training, mentorship and business support that can be accessed anywhere and at any time.
The entrepreneurs that will be a part of the incubator will go through a 12-week structured online entrepreneurship training programme. After 12 weeks the entrepreneurs will then have the opportunity to pitch their businesses.
If they complete the pitching process they will move on to the second phase of the programme where they will be mentored by industry experts.
In terms of funding, he/she will receive R20 000 worth of Business Development Support if they complete a one-year programme. The entrepreneurs will also have the chance to pitch to investors for funding.
For membership into this exclusive programme individuals must meet the following criteria:
1. Applicants must have fashion business idea or an existing fashion that has not been in operation for more than 12 months.
2. Applicants must be in their final year of studies or completed their studies.
3. Applicants must submit the online form which will then be reviewed.
Applicants who have made it through will be notified in writing and will be invited to a pitching event at the end if the month.