STAND Up! launches a call for applications for textile and fashion entrepreneurs to develop their financial literacy skills
STAND Up! launches a call for applications for ventures in the textile and clothing sector to develop their financial literacy skills, get knowledge on how to raise funds and get chances to meet with local and regional investors to potentially secure funding opportunities. The ‘Call for Access to Finance’ will select a minimum of 50 entrepreneurs from the 5 partner countries in Lebanon, Egypt, Italy, Spain and Tunisia. It means that each country will target at least 10 entrepreneurs.
As a supporting element for circular and sustainable business models, the 10 selected entrepreneurs per country will participate in a 10-days-long training that will focus on building the financial projections of the start-ups, understanding their readiness, trends and opportunities in the investment landscape. The training program, that will be held in each country, will be followed by two events organized by each country to provide investment feedback to the entrepreneurs and to receive local and regional exposure with potential investors.
The call is open for textile and fashion start-ups that meets the following criteria:
- Early-stage/Growth-stage start-ups in the textile and clothing industry
- Venture with a potential scalability, innovative and economically viable
- Venture with a prototype or product/service ready in the market
- Venture with an environmental and social impact
- Venture with a unique value proposition and sustainable business model with clear revenue streams
Among the selected participants, at least 50% should have participated in the capacity building phase and incubation phase. The ‘Access to Finance’ training, which will be given in a virtual format in English, will review of revenue streams in the business model canvas and develop of the investment teaser. It will also focus on identifying the sources of revenues and setting the cost and pricing strategy. In addition to that, it will give tools to entrepreneurs to build financial forecast based on assumptions.
Besides, the training will share knowledge on what investors are more interested to know and to see and the concepts of ‘investable’ or ‘investment ready’. Finally, it will help ventures to find funding options and the type of investors in the markets. This capacity building training will be followed by two pitching events. During the first matchmaking event, the entrepreneurs will get the chance to pitch their ideas in front of an internal jury and investors to receive feedback on their investment teaser.
During the second matchmaking event, ventures will pitch their investment teasers in front of potential investors in order to get the chance to secure investments and potential funding opportunities. The two events will be organized from July until September 2022. The application forms must be filled in through The Switchers.org platform, a free-to-use tool that entrepreneurs have used along the capacity building program. Applicants must register in the platform in order to be able to apply!
Deadline to submit applications: 21st March 2022
Link below to get more information about the calls. You will also find the link to TheSwitchers.org platform in order to be able to apply!
- Egypt - SEKEM Development Foundation: http://bit.ly/Access2FinanceEgypt CALL CLOSED
- Italy - Prato Textile Museum Foundation: https://www.museodeltessuto.it/news/avviso-standup-bandi/ CALL CLOSED
- Lebanon - Berytech Foundation: https://berytech.org/programs/standup/access-to-finance/ CALL CLOSED
- Spain -TEXFOR, Textile Industry Confederation: https://www.texfor.es/es/stand-up-abre-la-convocatoria-acceso-a-financiacion-para-emprendedores-textiles/ CALL CLOSED
- Tunisia - CETTEX Textile Technical Centre and CITET Tunis International Centre for Environmental Technologies: http://citet.nat.tn/Portail/doc/AGENDA/396 CALL CLOSED