Online luxury platform Farfetch is from today taking applications for a new start-up accelerator programme, called Dream Assembly, which it has launched in partnership with Burberry and global venture capital firm 500 Startups.
The 12-week programme for high potential start-ups will be run from Farfetch’s Lisbon, Portugal offices with trips to London to see Burberry and San Francisco where 500 Startups is based. As part of the programme, start-ups will be offered mentoring, networking opportunities and access to early stage funding.
Farfetch plans to offer two programmes a year with each programme comprising up to 10 start-ups. Farfetch founder and CEO José Neves, started his business in London 10 years ago, and is now looking to “give back” to the industry.
“For us it’s really about how do we bring the industry of dreams, which is the fashion industry, and the tech industry [together] and that it why Dream Assembly came together. And how can we mobilise everything and put together this sort of service of the best, most innovative start-ups out there,” he explained.
Chief operating officer Stephanie Phair added that the programme would enable start-ups to “get access to the best expertise and mentorship that Farfetch can offer whether that’s in ecommerce, technology, logistics, fashion, operations, there’s so much to learn from Farfetch, and we’re at the point that we want to give back to start-ups.”
Farfetch will invest €30,000 in each participating company, though participants will need to cover some expenses and accommodation for the duration of the programme. Applications open from today and will close on 10 June at dreamassembly.com.
Luxury conglomerate LVMH recently unveiled its start-up accelerator programme for luxury innovators, called “La Maison des Startups”, at the Station F campus in Paris, which is taking on 50 international start-ups.