With the rapid technological development reshaping the global fashion industry, we are witnessing various European countries adopting the fusion of cutting-edge technologies and fashion. One of those countries is Sweden. Mainly known for flat pack furniture, meatballs, ABBA and H&M, the Swedish fashion world is now embracing new algorithms, materials and ideas that challenge the existing industry. As part of our 5- part series on Sweden’s innovative approach to the fashion industry and how they are utilising technology, we first look at Borås Ink, an incubator that has been attracting disruptive entrepreneurs in technology, textiles and fashion since 2010.
Borås Ink: From Concept to Market
Since it started, Borås Ink’s startups have so far attracted SEK 350 million in growth capital from both private and public financiers. It’s success is mainly thanks to Borås Ink’s network that offers young companies the best development opportunities out there.
Working with experienced and committed business developers who bring to the table business-oriented and custom-made coaching, the incubator, which is located in the Textile Fashion Center, considered to be “one of the country’s coolest innovation centres”, also offers startups access to office space, studio and machinery. Encouraging innovation, collaboration and growth Borås Ink has been designed to help startups customise their business development efficiently by giving them access to finance, technical and commercial networks in a creative growth environment.
The Swedish incubator currently offers two business areas; BusinessInk and FashionInk. BusinessInk primarily works with technology-based growth companies with local roots in Borås and the surrounding area. FashionInk, Sweden’s only pure incubator in textile and fashion, creates conditions for innovators and entrepreneurs to establish themselves in both the Swedish and international fashion market.
“Encouraging innovation, collaboration and growth Borås Ink has been designed to help startups customise their business development efficiently.”
Attracting the kind of business ideas that would benefit from the opportunities offered by
The fourth step is when iterative development of the business model takes place. This involves constant verification of the hypotheses with the market in parallel with the development that the startup offers to the customer. The fifth step is all about scaling and planning for expansion in order to achieve positive cash flow through repetitive sales and better efficiency in the work. The sixth and final step of the programme is the exit. This involves making sure that the company is both stable and viable so it can continue to grow by its own stamina. Once this has been established the startup becomes alumni.
So far Borås Ink has worked with startups like T-Studio (FashionInk), an online platform that offers a 3D software that reproduces the true-to-life design of clothing and
DeFINE x Borås: Discovering The World of Fashion Tech
Borås Ink is part of a consortium of 10 European partners set to deliver the DeFINE Project which is co-funded by the European Commission’s COSME programme. The collaborative project, which is set to run for three years, 2018 until 2021, has been designed to deliver a Europe-wide programme that will build a European fashion-innovation network that supports, shares and encourages new ideas.
As a series of events take place around Europe, Borås is organising its very own event in Sweden. Taking place on Thursday 21st March 2019, the event will be discussing the future fashion technology and solutions for production, materials, design, retail and marketing. Fashion and technology experts that have been invited include the likes of Matthew Drinkwater, Head of Fashion Innovation Agency at London College of Fashion and Fredrik Timor, Innovation Manager at Swedish Fashion Council.
Overseen by Simon Hjelte, the free event will be held this week at the Textile Fashion Center in Borås.