CAMBRIDGE, Mass. — April 10, 2018 — Advanced Functional Fabrics of America (AFFOA) announced today that it has partnered with MIT-Venture Mentoring Service (MIT-VMS) to launch the Advanced Fabric Entrepreneurship Program (AFEP). The first 24 venture teams have been selected to join the program, with the goal of starting innovative advanced fabric businesses in the United States.
AFFOA’s mission is to catalyze a domestic manufacturing-based revolution, converting traditional fibers, yarns, and textiles into highly sophisticated, integrated and networked devices and systems, facilitating the transformation of the textile industry into a value-added, high-tech industry. Recognizing that entrepreneurs and start-ups are a crucial part of any technology revolution and growing economy, AFFOA has partnered with MIT-VMS to launch this year-long program aimed at supporting entrepreneurs and providing them with the foundation necessary for commercial launch of an innovative fabric-based venture.
The program aims to lower the barrier to innovation and commercialization in the advanced functional fabric space. The training and support offered to the fabric entrepreneurs builds on 17 years of experience that MIT-VMS has had supporting hundreds of ventures and start-ups. The program seeks to develop fabric entrepreneurs by combining IP, knowledge and entrepreneurship from universities, rapid prototyping through AFFOA’s Fabric Innovation Network (FIN), consumer insights, and funding from industry and resources from public and private sectors in order to accelerate product and business model innovation in Mass. and across the country.
Posted April 15, 2017