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Foundry IFA Paris and IBM launch the Future Innovation Award

By Aileen Yu

5 Feb 2020

Foundry Powered by IFA Paris, a Paris-based fashion tech innovation lab, and IBM announced the launch of the Future Innovation Award. The two organisations are strengthening their ongoing partnership to pioneer fashion tech in France by offering support to startups and entrepreneurs that demonstrate high potential to disrupt the fashion industry.

The recipient of the award will secure a place in the newly launched Startup Program based at Foundry which consists of a six-month intensive incubator program to help establish new fashion tech businesses. The startups will also receive personal coaching from the IBM Studios Paris team, dedicated co-working (makerspace) facilities and the opportunity to have their solution piloted with some of the fashion industry’s biggest brands. This high-value prize is fully sponsored by Foundry together with IBM and is aimed at opening new doors for emerging startups.

“Digital transformation and innovation have become more and more important in the world of fashion by contributing to the improvement of the user experience of clients and associates. IBM makes a point of supporting promising startups and brilliant students who will participate in the acceleration of this transformation by bringing up disruptive ideas,” Arnaud Pelletier, Director of IBM Studios Paris stated in a press release.

Peter Jeun Ho Tsang, Director of Foundry Powered by IFA Paris added, “It’s important that the barriers for market entry are lowered as much as possible for truly innovative fashion tech startups and we are really excited to be working with IBM to help achieve this goal. By doing so, we can unleash ambitious talent and show the industry the possibilities for positive change.”

Photos: courtesy of Foundry Powered by IFA Paris