Styleit accelerator: closing of the 2024 scouting phase of the accelerator dedicated to FashionTech & LuxuryTech startups
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Business
The 2024 scouting phase of Styleit has come to an end. Styleit is the accelerator program dedicated to startups developing B2B solutions or services for the FashionTech & LuxuryTech market. It is part of the CDP Venture Capital National Accelerator Network, a network present throughout the country to support the growth of new companies specializing in the markets with the greatest potential.
Styleit is an initiative of the CDP Venture Capital SGR National Accelerator Network, in collaboration with program operators Startupbootcamp and GELLIFY, notable corporate partners such as Brunello Cucinelli, Fondazione del Tessile Italiano, Gucci, MICAM Milano, Ratti S.p.A. Società Benefit, YHub, and which also sees on board Crédit Agricole Italia as Co-Investor, Polimoda as Educational Partner, Manifattura Tabacchi as Local Partner and Open Seed as Ecosystem Partner.
The project also sees the involvement of the Azimut Digitech Fund, Azimut Libera Impresa SGR, which confirms its support for the seed innovation ecosystem for the development of new innovative enterprises, and the advisory company FNDX, which has guaranteed its contribution to the selection and evaluation of startups to invest in.
On May 30th, the second Selection Day of the accelerator took place: an exclusive event marking the culmination of the selection process for the second cycle of the Accelerator, where 21 of the most promising FashionTech & LuxuryTech startups were invited to present their innovative solutions to an esteemed audience of promoters, corporate partners, investors, mentors and industry experts.
Selection Day represents the final stage of an intensive scouting process that began in January 2024. This rigorous process identified over 1600 startups, received more than 400 applications for innovative solutions, conducted 167 discovery calls, and held 90 negotiations. The solutions presented address all the accelerator's focus areas: Customer Engagement (8%), Supply Chain Evolution (13%), Unified Commerce (12%), New Materials & Processes (5%), Smart Product Development (8%), Product Interaction (13%), Circular Business Models (7%), and CSR (3%).
Of the 21 participants, only 10 will be selected to advance to the next phase of the acceleration program, which will begin in early July 2024. For approximately 14 weeks, the selected startups will benefit from one-on-one mentorship and coaching sessions, business training workshops, masterclasses with industry experts and professionals from the fashion, luxury and innovation sectors, business development support activities and collaborative sessions with corporate partners, coordinated by the Styleit team. The primary goal is to accelerate the growth of the startups and thoroughly prepare them for engagement with investors and customers.
The program will culminate in the Demo Day, scheduled for November 2024, where the startups will present their progress to the accelerator partners, investors and key stakeholders in the international fashion and luxury industry, demonstrating the progress achieved with the resources provided by Styleit.
The headquarters of the program, which will host the operational team, the selected startups and the main events, is located at Via delle Cascine 35, within the innovative hub of Manifattura Tabacchi in Florence. This facility offers over 11,000 square meters of efficient and green office and workspace dedicated to contemporary art, fashion and design.
Matteo Levi, Program Director of Styleit, commented: "The last four months have been an intense period of scouting, during which our team has evaluated 400 new applications, and enriched the Styleit database, which now includes over 2000 startups in the Fashion and LuxuryTech sectors. Compared to the first edition of the program in 2023, we have seen a significant increase in both the number of proposed solutions and the number of identified startups. In particular, we have seen a significant increase in solutions focused on optimizing industrial processes, an area of great interest to both brands and our entrepreneurial and manufacturing ecosystem. In addition, many of the solutions mapped make use of artificial intelligence, a topic of growing importance in the fashion and luxury sectors that will have a significant impact in the future."