National, October 14, 2024: Sanjay Nigam, founder of the Fashion Entrepreneur Fund (FEF), has officially launched India’s first fashion venture studio focused on fashion, with plans to invest ₹500 crore over the next five years in emerging fashion entrepreneurs. The initiative, which has attracted over 25,000 applicants in the first call for entry registrations, is now in its second phase, offering aspiring fashionpreneurs a unique opportunity for investment and mentorship.
Nigam explained “During the COVID-19 pandemic, the fashion industry was overlooked in terms of financial support. We realized there was a need for an ecosystem offering both funding and mentorship to those in the fashion sector.
FEF is designed to foster an entire fashion ecosystem by offering financial support, mentorship from industry experts, branding and PR assistance, business acumen, and industry-specific skills. “Our goal is to guide fashionpreneurs to become leaders who can make a global impact. The passion and drive we’re seeing through regional representation is truly inspiring’, Nigam added.
The enthusiastic response from applicants nationwide, with 23% from the North-East and 38.5% from Southern India, has been encouraging for the FEF team.