Future Fashion Factory is a £5.4 million R&D partnership exploring and developing new digital and advanced textile technologies to boost the design of high-value creative products. Read more here.
Fashion, Textiles, Technology, SME Research & Development Programme is a £2m programme that is aiming to establish approximately 15 FTT R&D SME Support Programme Partnerships. The project is looking to support SMEs in the development of the next generation of products,services and experiences in the fashion, textiles and technology sectors – with sustainability at their core. SMEs with innovative concepts, or companies already working at the early stages of testing a prototype product or service in the market place are eligible to apply. Read more information in the downloads in this section or here.
Funding for specific projects may also be available through:
Much has been written about how easy or difficult it is for UK companies, especially designer start-ups, to access finance. While access to trade finance and investment remains an issue for the industry, several of the high street banks regard our industry as being of great interest and have extensive dealings with fashion companies in particular.
Raising business finance is complex and needs to be done carefully. The fashion, accessories and textile industries have often suffered from a negative perception as potential investors have felt that the industry is a difficult one in which to run profitable businesses. There have been many stories about companies whose relationships with private backers have turned sour, usually because the backer has failed to understand the cash-flow implications of running a fashion brand and expected a faster return. And yet, there are plenty of companies in this industry running profitable businesses and many companies in this sector potentially represent good potential for investors.
At any stage of raising business finance, good financial discipline and access to accurate legal and financial information are essential. A number of UKFT’s Associate Members will be happy to offer their services to UKFT members, often at preferential rates. UKFT can also link members at varying stages of the process to make sure that members are able to ask questions of companies in the sector which have been through the process. In addition, UKFT runs seminars on this and other important topics throughout the year.
The download is intended to help companies to consider whether they could be a potential candidate for investment and what they need to look out for.