Through the initiative, the brand will drive the development of technological solutions that respond to the biggest challenges faced by the fashion industry through an open innovation model that will allow it to promote an innovation culture in the heart of the company, Desigual said in a press release.

The launch of Awesome Lab represents Desigual's commitment to digital innovation and to boosting the flow of knowledge and ideas for identifying opportunities and swiftly implementing responses. To accomplish this, the company has partnered with Plug and Play that has invested in companies like Dropbox and PayPal, and whose mission is to connect the most innovative startup-created technologies with large organisations.

The initiative is an acceleration programme which will support startups with outstanding potential through mentoring and the provision of resources and tools, thereby boosting their growth and the development of solutions that are essential to the transformation of the sector.

"Since our very beginning, we have been committed to innovation: an inherent characteristic of Desigual and one that is essential to transforming ourselves as a company. Now we are laying the foundations for an open Desigual through which we will realise one of our ambitions: becoming a company that translates collaboration into a key and differentiating competitive resource. Launching this accelerator marks the beginning of a new stage of growth,” said Desigual's managing director Alberto Ojinaga.

As well as taking an active role in supporting the chosen startups, the company will also include the Digital Innovation Department, along with professionals from various areas, in the assessment and selection process.

"At Plug and Play we are true believers in the potential of Awesome Lab, and we are confident that this collaboration with Desigual will profoundly boost innovation within the fashion sector," said Jaime de Borbón Dos Sicilias, director of Plug and Play Spain.

Alongside the acceleration programme, a financial investment device will be set up to identify the startups the company will choose to invest in. The call for startups will start internationally on July 20 when the company will launch around 10 challenges related to product design and development as well as customer relations. Plug and Play are expected to select up to 150 startups as candidates to join the programme.

The panel is expected to select between five and seven projects to join the acceleration programme, which will commence in September and run for between six and nine months. Throughout the programme, the startups will receive training and support from internal as well as external mentors.

Two types of events will be organised as part of the programme: Demo Day, which will serve as a meeting place for investors and the startups participating in the accelerator, and Innovation Day, a space for reflection and discussion on innovation with participation from experts in the sector.

Fibre2Fashion News Desk (KD)