15 small to medium retailers in Sydney will have the opportunity to elevate their businesses, after the City of Sydney partnered with early-stage investment group Investible.
In a first for Sydney, the Retail Innovation Program will inspire retailers to think differently about their businesses to help them innovate, accelerate and future-proof it.
A bootcamp beginning in March will kick the eight week program off and retailers will engage in both face-to-face learning and mentoring as well as online modules to help them transform their businesses.
The program will centre on idea validation and testing, solution design, data analytics, financial modelling, scale strategy, growth marketing and customer traction analysis.
Each of the involved businesses will be able to share their journey on social media, with the aim to inspire other businesses to refresh their model.
Sydney Lord Mayor, Clover Moore, said that the program shows the commitment the City of Sydney has to reinvigorating the retail sector.
“We are looking forward to partnering with Investible to bring this new and innovative retail program to Sydney.
“The partnership reflects our commitment to supporting our retail businesses to remain competitive in the digital age and maintaining our billion dollar economy,” she said.
Cofounder of Investible, Creel Price, said that Investible is excited to work with local retailers to help them prepare for the future of retail.
“Where I see an industry in turmoil I see opportunity.
“The old world order of retail is changing at a rapid pace – yet people are consuming more than ever. Investible is excited to work with The City of Sydney to future proof local business owners.”
Applications to take part in the program are open until 01 March 2019.
For more information, click here.