ASOS and Wayra UK launch their accelerator program

Dedicated to fashiontech start-ups

in brief

Last 3rd of May, the internationally known british e-retailer Asos and Wayra UK, (the Spanish telecom Telefónica Open Future’s start-up accelerator), launched their business accelerator. This program aims to look for the most innovating fashtech start-ups in the world to support them in order to develop new e-commerce solutions. Famous digital leader, ASOS is trying to improve the shopping experience offered to its around 11 million customers, to make it smoother, more enjoyable and more personalized; in brief to evolve at the same time than its customers needs change.

Earlier this month, the internationally known british e-retailer Asos and Wayra UK, (the Spanish telecom Telefónica Open Future’s start-up accelerator), launched their business accelerator. This program aims to look for the most innovating fashtech start-ups in the world to support them in order to develop new e-commerce solutions. Famous digital leader, ASOS is trying to improve the shopping experience offered to its around 11 million customers, to make it smoother, more enjoyable and more personalized; in brief to evolve at the same time than its customers needs change.

Identikit of these ideal start-ups: mature and with a proven track record to show they can develop technologies, products and/or services able to complete what ASOS offers in terms of buying experience (and not another start-up about wearable techs or 3D printing).

Wayra

Awarded with £34,000 of direct investments for an equity stake in the range of 5 to 10%, the most promising projects will also have access to office space within Wayra UK’s academy in London. Additionally, they will be provided intensive coaching for eight months, including mentoring, masterclasses and business development support. The chosen start-ups will also have potential access to Telefónica’s customer base (more than 300 million) and ASOS’s networks locally and globally.

Although Wayra UK is a skilled business accelerator, it is the first time they work with a company that is not part of the Telefónica group. This partnership has a clear strategic interest for both firms : ASOS takes advantage of Wayra UK’s knowledge in managing start-ups. Regarding Wayra UK, ASOS is a great partner to appeal any young company interested in e-commerce, adtech and fashtech. Its experience in these fields and its skills in biz dev are important assets ASOS brings to the table to offer to the lucky selected start-ups an effective mentoring.

Start-ups can apply on Wayra.co.uk/ASOS on until 9am (GMT) on Monday May 23.

Subscribe
There's always more to discover. Subscribe to our newsletter to explore the unfound.