Implementation of the FashionNet market concept to require no public funding

    24 October 2017
    PHOTO: Taras Baziluk |

    In the nearest future, the FashionNet market concept will be presented to the project office of the National Technology Initiative (NTI) for consideration by an interdepartmental working group. Projects implemented in this market will require no public funding, according to the participants in the meeting of the FashionNet working group, which was held on October 22 in Moscow during the Mercedes-Benz Fashion Week Russia.

    “As part of the implementation of the National Technology Initiative, the government will provide funding for seven of eight roadmaps adopted. The roadmap that uses virtually no public funding is EnergyNet. Their main demand is reducing administrative barriers and providing organizational support to projects. Based on the concept presented for discussion, FashionNet pretends to be the second NTI market that expects to do without public funding. We understand that there are many commercial players here, who are ready to participate in its development,” stated Oleg Teplov, the Co-Chairman of the NTI’s Committee for Project Coordination and Control.

    The FashionNet market concept provides for creating a site to bring together manufacturers of clothing, accessories, jewelry; designers and creative players of the industry.

    It is expected that by 2035 the annual volume of the FashionNet network market will reach $ 2.8 trillion. According to the authors of the concept, the main added value in the new market will be due to generating a creative and technological product. The FashionNet working group believe that one of the key tasks will be creating a new generation of design entrepreneurs.

    “The fashion market is highly competitive: those manufacturing companies who cannot survive without state support are the least viable in this industry. That’s why, we consider the budget funding the least important part of support in the new market. The key object of our interest is creativity. FashionNet is an open site; we are working with all stakeholders, including the beneficiaries of the suggested program: designers, brands, factories, and universities,” explained by Aleksandr Shumsky, the Chairman of the Russian Chamber of Fashion, a Co-Director of the FashionNet working group.

    Source: Website Editorial