Saudi Arabia’s Ministry of Culture is all set to launch the second phase of its Fashion Incubation program to promote the fashion sector and cultural entrepreneurship in the Kingdom.
Entrepreneurs and talent in the fashion industry will take part in a 5-day virtual boot camp which will focus on the fundamentals of the fashion industry, including product design, marketing, brand management and retail.
The program will empower the participants on leadership skills, team building, innovation and flexibility in entrepreneurship while introducing them to the initial concepts of intellectual property and the sustainability concept in the fashion industry.
The Ministry of Culture mandates the participants to be early entrepreneurs, practitioners, or freelancers with less than two years of experience who have a clear presentation of a product, service or brand they want to develop.
Applicants are also expected to present a business model with a clear and promising target market size and potential revenue.
Other than learning which involves developing ideas into business models, entrepreneurial skills to build an influential and sustainable business and discover client-centered business models, the initiative also supports the participants in assessing the market, identifying internal efficiencies, planing strategic partnerships, and prototyping, among other business skills.
Once completing the second phase, participants can apply for “Babysitter”, the third, 5-month long-term program that will begin in April. The third phase will provide participants with the guidance and support necessary to “help support and establish a solid foundation to help strengthen their products.”
Phase 1 of the holistic program, held in December last year was a three-day virtual “fashion hackathon that included 33 teams.
The Saudi Ministry of Culture has associated with various public entities such as Saudi Arabia’s General Authority for Small and Medium Enterprises (Monshaat) and the Saudi Authority for Intellectual Property (SAIP) to organize this program.