The Spanish clothing supplier Mango wants to provide targeted support for young companies in the industry in the future. The Mango StartUp Studio was founded for this purpose, the company said on Thursday. “The project involves an investment of three million euros and envisages participation in more than fifty companies in the medium term,” says a statement. The Mango StartUp Studio is therefore technically supported by the IESE Business School, which also participated in the founding.
In the future, companies that are active throughout Europe and that “are mainly in an early stage of development or have only recently introduced their product” are to be funded. A particular focus is on innovations that affect “sustainability and technology as well as all links in the value chain, from product manufacture to sourcing and sales,” explained the clothing supplier. In addition to financial and content-related support, the start-ups are also offered the opportunity to use the company’s facilities at several Spanish locations and to work with Mango’s development teams there.
Mango CEO Toni Ruiz will chair the project. With Jonathan Andic, Elena Carasso, Margarita Salvans and Belén Rallo, other executives from the clothing supplier belong to the committee. Paula Sancho represents the IESE Business School there.