UK-based clothing e-commerce company Asos has partnered Wayra UK, the local accelerator for Spain-based telecommunications firm Telefónica, to create an accelerator program for fashion technology startups.
Asos and Wayra are seeking mature startups that can improve customer experience by simplifying and personalising the process of buying fashion items online.
Possible investment areas include fulfilment, consumer loyalty and mobile app development, but startups developing wearables, 3D printing and fashion design technology will not be eligible.
Selected startups will receive office space at Wayra’s space in London for eight months, where they will benefit from help with business development, mentorship and access to Asos’s network and Telefónica’s customer base.
The corporate partners will also make direct investments in some of the startups, though further details have not been revealed. Applications for the program can be submitted until May 23, after which startups will be selected through semi-finals on May 26 and finals on June 2.
Gary Stewart, director at Wayra UK and Telefónica Open Future UK, said: “To see Asos – arguably one of Britain’s biggest startup success stories – itself embrace open innovation in this way is truly inspiring and shows why the UK has evolved into one of the world’s best startup ecosystems.
“Asos is the perfect co-investor for anyone interested in e-commerce, adtech and fashion tech.”