The Retail Innovation Program will return in 2020, developed by early-stage investment firm Investible in partnership with the City of Sydney, with an expanded program and capacity to support more local retailers.
Designed to help future-proof Australia’s retail sector, the intensive 12-week accelerator will provide business owners the opportunity to innovate, scale and grow – free of charge and with the support of more than 20 innovation leaders and expert partners, leading businesses and Retail Innovation Program alumni.
The inaugural program featured 15 retailers including Citizen Wolf, Courtesy of the Artist, Koskela and The Cruelty Free Shop. The new program, launching in February, has been expanded to accommodate up to 20 retailers.
More than 15 partners have also signed on to support the businesses including Amazon Launchpad, Google, Afterpay,EY, Digivizer and Fishburners.
Lord Mayor Clover Moore says the City of Sydney was eager to expand the program, following a successful first run.
The Retail Innovation Program is developed by entrepreneurs for entrepreneurs. It’s based on Investible’s tried and tested methodology which has been used to train thousands of entrepreneurs – a methodology originally designed by co-founder Creel Price for Richard Branson’s Centre for Entrepreneurship in South Africa.
The program includes a combination of in-person learning and mentoring with virtual delivery coaching modules designed to transform traditional businesses into innovative entrepreneurial teams.
“There’s no doubt the retail sector is facing significant challenges, but these challenges also create exciting opportunities for retailers who are prepared to innovate and adapt. This program is specifically designed to cater to the unique needs of local retail businesses and empowering them to act on those opportunities,” said Elisa-Marie Dumas, Head of Programs & Partners, Investible.
Alumni from the first Retail Innovation Program will take an active role in mentoring the new cohort, leading tailored workshops and sharing the insights gained by overcoming similar challenges. Participants can also take advantage of regular post-program support from Investible, with opportunities for regular catch-ups and collaboration.
“This program has been invaluable. Being able to work with Investible on breaking down each facet of the business and understanding what we can and can’t scale has been so important. This program has really helped us understand what we need to focus on and to future proof our business,” said Nina Cueva, Founder, Courtesy of the Artist.
“For me, I was never lacking the ideas, this has been about now having the framework to put those ideas through and validate them,” said Russel Koskela, Founder, Koskela.
“The Retail Innovation Program has changed my life. It exceeded far beyond my expectations and is an absolutely essential program for any existing business or those on their tip toes ready to launch,” said Scott Gault, Founder, Rara Redfern.
The Retail Innovation Program is designed to suit business owners who are:
- Running a small or mid-sized business
- Working in the fashion, furniture, homewares, services, music or food and drink sectors
- Operating day and/or night
- Focused on the future of your industry and excited about the opportunities ahead
- Searching for new tools, information and technology to grow your business
- Deeply passionate about what you do even on the bad days
- Bringing consciousness around sustainability practices into your business.
Business owners who are interested can now apply at: https://www.retail.investible.com/