Desigual is doing its half to assist the subsequent technology of entrepreneurs.
The Barcelona-based retailer has teamed with Plug and Play, an innovation platform that connects start-ups with established firms, to launch an accelerator program known as Awesome Lab. This is the primary program of its sort to be backed by a Spanish trend model, in accordance with the corporate.
Awesome Lab will supply rising firms in product improvement, design and buyer relations a monetary funding, together with mentoring and different sources and instruments to assist their progress. The firm is planning to speculate round 15 million euros over the subsequent three years in this system, a spokesperson mentioned.
“Since our very beginning, we have been committed to innovation,” mentioned Alberto Ojinaga, managing director of Desigual. “In 2019, we took the first step by committing to collaborations with artists and designers in the creation of our collections. With this initiative, we want to take this a step further and promote an innovation model that will allow us to incorporate the creative and enterprising spirit that lies beyond our organization and get closer to start-ups at an earlier stage so their technological solutions can be implemented in a more strategic manner in our own business.”
Between July 20 and Sept. 15, there will likely be an open name for start-ups to use for this system. Plug and Play, which has invested in firms together with Dropbox and PayPal, will then choose 150 candidates whose proposals will likely be assessed by a panel made up of Desigual’s founder Thomas Meyer, members of its steering committee, Plug and Play executives and others within the trend sector.
The panel is predicted to pick out between 5 and 7 tasks to hitch the acceleration program, which is able to start in September and run for between six and 9 months. Throughout the run of this system, the chosen start-ups will obtain coaching and assist from inner mentors who’re staff of Desigual, in addition to exterior mentors thought of specialists and profitable entrepreneurs of their fields. The manufacturers can even be supplied with financing, entry to Desigual’s Barcelona headquarters, supplies, key contacts and a community of suppliers and logistics companies.
In addition, Desigual can even supply a Demo Day, the place traders will likely be supplied an opportunity to satisfy the start-ups, in addition to an Innovation Day, the place the start-ups can meet with specialists of their sector.
Meyer mentioned Awesome Lab will enable Desigual to make use of collaborations “as a key and differentiating aggressive useful resource. The launch of Awesome Lab…permits us to get nearer to technological improvements at an earlier stage, thereby facilitating a extra strategic implementation of options and responding to the challenges now we have set ourselves at Desigual relating to continued progress. At Desigual, innovation permeates the whole lot we predict and do, in addition to the best way we do it.
“We chose this open innovation format because we want to set ourselves apart, in terms of creativity and innovation, as a unique, different and relevant brand that provides a superb value proposition to our customers,” Meyer added. “This is a long-term project because it is part of our business model and corporate culture, and requires the involvement of everyone who makes up Desigual. An open innovation format like Awesome Lab allows us to create a greater flow of knowledge and integrate trends, new ideas and the latest technologies in a collaborative manner.”
Seena Amidi, managing director and co-head of Plug and Play EMEA, mentioned Desigual is “one of the most prominent players in Spanish fashion and is perfectly aligned with our mission to create a smarter future. We believe that their disruptive and creative DNA, the brand’s relevance and its commitment to driving open innovation within the sector will underpin what will be a successful collaboration.”
Jaime de Borbón Dos Sicilias, director of Plug and Play Spain, added that the launch of Awesome Lab can even assist solidify Barcelona as “an innovation hub.”
