Farfetch has unveiled new startup incubator Dream Assembly to help encourage growth in the next wave of retail companies.
The luxury online shopping platform has developed the technology accelerator to aid promising startups by lending their own expertise.
Farfetch will also be tapping luxury know-how from Burberry and venture capital firm 500 Startups for the scheme.
In an interview with WWD, Farfetch chief strategy officer Stephanie Phair said the Dream Assembly approach was “entrepreneur first”, and that the program dovetailed with the company’s values around innovation and giving back.
The initiative will offer a 12-week biannual programme, allowing start-ups access to early-stage funding as well as mentoring and networking. Dream Assembly is now accepting applications until June, running for three months in Lisbon, with trip to London and San Francisco.
The news comes as speculation around a possible initial public offering (IPO) at Farfetch which could launch later this year continues.