The India Fashion Awards (IFA), a well-known non-profit group dedicated to supporting the fashion sector, recently unveiled the website for the much-anticipated Fashion Entrepreneur Fund (FEF) on September 3, 2023, at The Claridges in New Delhi.
The FEF, created by the forward-thinking entrepreneur Sanjay Nigam, aims to provide essential financial assistance and guidance, encouraging a united and enduring business environment.
The new business hub has the support of prominent figures in the film and business sectors, including film director Karan Johar and business leaders like Naveen Jindal, Robin Raina, J.K. Lalwani, Sandeep Jain, Vagish Pathak, Idha Pathak, Vinod Dugar, Gaurav Dalmia, and Samir Modi, the statement said.
Karan Johar launches FEF Website
Karan Johar launched the transformative Fashion Entrepreneur Fund’s website, marking a groundbreaking initiative that empowers emerging fashion and lifestyle entrepreneurs with essential resources, investment, education, mentorship and networking during the inaugural ‘Alliance Dinner’ at The Claridges Hotels and Resorts in New Delhi.
“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,” said Karan Johar.
“By providing both financial support and essential mentorship, we’re empowering the next generation to confidently make their mark with authenticity. I am incredibly enthusiastic about being a part of this vision aimed at propelling the industry to unprecedented heights. 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.”
The Fashion Entrepreneur Fund aims to nurture entrepreneurs
The Fashion Entrepreneur Fund (FEF) also unveiled an initiative aimed at nurturing the next generation of entrepreneurial talent in the fashion and lifestyle sector.
According to a statement, the initiative includes the launch of a never-before-seen OTT series, spearheaded by the respected Karan Johar, which plans to invest Rs 20 crore in promising fashion and lifestyle startups. The selection of these startups will be based on their business savvy and innovative approaches.
Vagish Pathak, Chairperson of the 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, said, “I feel deeply privileged to witness the convergence of creativity, innovation and limitless opportunities within the dynamic fashion and lifestyle industry. 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.
“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. 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,” Sanjay Nigam said.
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