Spanish retailer Mango has launched a new initiative in support of the IESE Business School, Barcelona, that will aid the school in screening processes for training and networking.
Additionally, Mango StartUp Studio will act as a fashion start-up accelerator, aimed at promoting innovation within the company and to further participate in the development of new technologies or business models.
In a release, the CEO of Mango, Toni Ruiz said that the accelerator “will allow Mango to learn first-hand about the start-up ecosystem, establish contacts with the main players in the sector and assess trends and new disruptive technologies, developing real cases together with start-ups, both because of the high value they can contribute and because of their future potential.”
Mango will be looking for innovative companies in Europe that are currently in the development phase to establish seed capital investments, prioritising sustainability and technology. The accelerator will have a budget of three million euros, with plans to invest in more than 50 companies in the medium term.
Mango also said it will be providing start-ups with the possibility of having a location in the company’s offices or conducting remote sessions when necessary.
A committee for the accelerator, consisting of Ruiz and other Mango executives and leaders, will be responsible for selecting the best start-ups to take part in the initiative.