SRI LANKA: Brandix takes new steps to encourage innovation
Brandix wants to encourage innovation in the country's textile and apparel industry
Apparel export giant Brandix has signed another deal as part of its ongoing efforts to encourage innovation in the country's textile and apparel industry.
The MoU has been signed with the Sri Lanka Inventors Commission (SLIC) through Brandix's Disrupt Unlimited start-up.
SLIC will seek inventors with potential to commercialise their ideas in the fields of textile, apparel and accessories. Disrupt Unlimited will then review these inventors and select suitable candidates to go through its 'Incubator' or 'Disrupt-a-thon' programmes.
This could then lead to funding and additional mentoring to commercialise their ideas.
Speaking at the signing of the deal, Brandix director Udena Wickremesooriya stressed the importance of building and fast-tracking an ecosystem which encourages and nurtures start-ups.
"We are still in the infancy stages of this cycle. Therefore, we need to really go for it in the next five years to catch up to ecosystems that have been 25 years in the making."
He said the purpose of Disrupt Unlimited is to "take big ideas to the global market". Wickremesooriya advised inventors to "take the risks, make your ideas work, and deliver results".
He added: "If you successfully fail, Brandix will offer you an employment opportunity within its group of companies."
Launched earlier this year, Disrupt Unlimited is a seed accelerator that seeks to inspire, mentor and fund start-ups with solutions to disrupt products, practices, processes and business models in the apparel, textile and accessories sectors.
It aims to encourage innovators from across industries to develop technology-driven solutions that address challenges at every stage of the supply chain, leading to revolutionary changes in the way apparels, textiles and accessories are made, packaged, distributed and consumed.
Access is given to seed funding, advisors, practical workshops, networking opportunities, collaborative workspace and legal and administrative services, along with the opportunity to pitch ideas to venture capitalists and angel investors.
Click here to read more about the March launch of the US$1m 'Disrupt Unlimited' start-up.
- 2014: Year in review - Sourcing winners and losers
- COMMENT: The decline of the buying office
- 2014: Year in review - Brand winners and losers
- 2014: Year in review - Retail winners and losers
- Bangladesh: Raising the bar on apparel exports?
- Report urges overhaul of Cambodia factory safety
- Bangladesh knitting worker killed by faulty lift
- North Face debuts locally-grown "backyard" hoodie
- Bangladesh factory improvements “will take years”
- Apparel manufacturing leads US reshoring trend