Business EconomyPosted at: Sep 5 2023 7:57PM


Fund launched for budding Fashion entrepreneurs

New Delhi, Sep 5 (UNI) Aspiring entrepreneurs in the world of fashion and lifestyle can now look forward to fulfilling their dreams, with a fund being launched to help them in the budding times.
The Fashion Entrepreneur Fund (FEF) has been launched by India Fashion Awards (IFA), a prominent non-profit organisation.
Established by Fashionpreneur Sanjay Nigam, FEF's primary objective is to offer vital financial support and mentorship, fostering a collaborative and sustainable entrepreneurial ecosystem.
This initiative is backed by renowned film director Karan Johar and business luminaries from the fashion and business domain such as Naveen Jindal, Robin Raina, J.K. Lalwani, Sandeep Jain, Vagish Pathak, Idha Pathak, Vinod Dugar, Gaurav Dalmia and Samir Modi.
The Fashion Entrepreneur Fund's website was launched here by Karan Johar, marking a groundbreaking initiative that empowers emerging fashion and lifestyle entrepreneurs with essential resources, investment, education, mentorship and networking.
The event also saw the presence of Bollywood superstar Ranveer Singh..
“Young entrepreneurs in India's fashion and lifestyle realm are igniting a global movement, reshaping entire industries with their innovative ideas. With this venture studio, we're not just writing cheques, we're writing success stories,” the blockbuster movie director said.
“By providing both financial support and essential mentorship, we're empowering the next generation to confidently make their mark with authenticity… To all the budding trailblazers stepping onto the Indian business stage: Embrace your unique vision, infuse it with authenticity, and fearlessly sculpt a radiant future ahead,” Karan Johar added.
The inauguration ceremony of the Fashion Entrepreneur Fund website paved the way for a surge of exceptionally talented individuals equipped with tools and knowledge to thrive in the industry.
This initiative will invest Rs 20 crore in fashion and lifestyle start-ups, which will be selected based on their business acumen and creativity, presented by Karan Johar., said a press statement by the organisers.
Through this initiative, FEF is not only celebrating individual achievements but also nurturing a vibrant community of fashion and lifestyle entrepreneurs uniquely positioned to shape and guide the future, it said.
Vagish Pathak, Chairperson, Fashion Entrepreneur Fund said, “Let us remember that fashion is not just about what we wear; it's a reflection of our individuality, creativity and our commitment to sustainability. Together, we embark on a journey where style meets purpose and our investments in the future of fashion and lifestyle will not only shape trends but also drive positive change in our world.”
Sanjay Nigam, the founder of Talent Factory, the India Fashion Awards, and the Fashion Entrepreneur Fund, expressed his gratitude and vision.
"I feel deeply privileged to witness the convergence of creativity, innovation and limitless opportunities within the dynamic fashion and lifestyle industry,” he said.
“The Fashion Entrepreneur Fund represents far more than a mere financial investment; it embodies an unwavering commitment to nurturing dreams and unlocking the potential of aspiring entrepreneurs,” Nigam said.
“Through our comprehensive approach, we not only empower individuals but also possess the profound ability to reshape the very essence of the industry itself. Together, guided by our shared vision, we are poised to ignite an unprecedented wave of entrepreneurial spirit that will redefine the benchmark of success within the fashion realm,” he said.
“The journey ahead is exhilarating, and I am excited to see the transformative impact of the Fashion Entrepreneur Fund on the lives of those it touches,” he added. UNI XC SSP
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