Earlier this year we told you how global fashion destination ASOS and world-leading startup accelerator program Wayra (part of Telefónica Open Future_) had partnered up to launch an accelerator program. Some great fashion tech startups were accepted into the program – read on for an update!
Why did ASOS and Wayra create an accelerator program?
With more than 85,000 products on ASOS, 4,000 new items added every week and an average of 3.6 million visits daily, ASOS and Wayra UK have searched for smart technologies to accelerate the pace of innovation within the fashion technology space, making the customer experience easier, more enjoyable, and more personalized.
One of the key motivators behind the partnership is the fit with Telefónica as a global digital telecommunications company. With mobile now accounting for 51% of ASOS’s sales, Wayra UK’s dedicated business development team will work closely with Telefónica’s operating businesses to find product market fit for the start-ups selected.
The start-ups that were selected were:
- action.ai – This London-based startup makes smart chatbots that “transform experiences and revolutionize interactions.”
- Wishround – A social payments and group purchasing engine for e-commerce based in Ukraine. “A new way to get perfect gifts for your friends spending a reasonable amount of money.”
- Xpreso – This Dublin-based startup’s “SaaS solution allows delivery companies to increase first-time delivery success rate by offering online shoppers dynamic tracking and accurate arrival times.”
These three startups will join the ASOS and Wayra UK Accelerator program where: they will have access to investment funding, office space, dedicated mentors and coaches, masterclasses, one-on-one meetings, and access to Wayra’s investor network and ASOS and Telefónica’s local and global networks. Congratulations to the chosen startups!
Third Wave Fashion has been your fashion tech think tank since 2011. We publish the first ever printed fashion tech magazine, Third Wave. Follow us on Twitter or subscribe to our newsletter to stay on top of the latest in fashion tech + wearables. Xpreso photo from web.expreso.com, Wishround photo from wishround.com, action.ai photo from action.ai. Feature image from from Telefónica and ASOS.