ASOS launches search for world’s “most innovative” ‘fashtech’ start-ups
Partnership with Wayra UK will see the e-commerce company offer investment, mentoring, and office space to select few start-ups
ASOS has partnered with Wayra UK to find and support mature start-ups in fashion technology (fashtech) to develop solutions that will enhance its e-commerce site for its users across the world.
The programme will award a select number of start-ups with direct investment, “intensive” mentoring from coaches for eight months, and office space at Wayra UK’s Central London headquarters.
Chosen businesses will also potentially be given access to ASOS’s networks and Telefónica’s customer base.
With some 11 million customers and claims of 3.2 million daily web visits, ASOS is looking for products and services that will compliment its offering and enable it to understand and reward customers. It has explicitly said that it is not looking for start-ups in the wearable tech, 3D printing, or fashion design space.
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ASOS CIO, Cliff Cohen, said of the programme: “ASOS has always been known as a digital leader and this partnership will help us continue to serve the needs of our customers as they evolve.
“The potential here, for ASOS, our customers and the companies we end up working with, is huge and Wayra UK is the perfect partner to work with on this search.”
Gary Stewart, Wayra UK director and Telefónica Open Future UK director, asserted that ASOS “is perfect for anyone interested in e-commerce, adtech, and fashtech”:
“To see ASOS – arguably one of Britain’s biggest start-up 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 start-up ecosystems.”
Entries for the programme close at 9am on Monday 23 May.