A business bootcamp challenge will kick off a new Retail Innovation Program to help traditional retailers get a foothold in the fast moving digital economy.
The City of Sydney's new eight-week program offers 15 small to medium retailers face-to-face learning, mentoring and online training to build a strong business model and accelerate business growth.
Lord Mayor Clover Moore said the free program will challenge Sydney businesses to think differently.
"Bricks and mortar retailers are increasingly facing new challenges to stay competitive in today's digital economy," the Lord Mayor said.
"Our new program to support the local retail sector will help local businesses be more dynamic, innovative and sustainable, and build capacity to overcome contemporary challenges."
The City has partnered with Investible to create the program. Investible has worked with entrepreneurs and startups around the world to help accelerate their business growth.
"The experts delivering the program are recognised as leaders in Sydney's entrepreneurial business landscape. Having worked with leading retail including Westfield, David Jones and Glue Store they understand the challenges and issues faced by the retail sector," The Lord Mayor said.
Investible is an early-stage investment group that provides high potential founders the financial, human and intellectual capital needed to scale.
The Retail Innovation Program is based on methodology first designed by Investible's co-founder Creel Price for Richard Branson's Centre for Entrepreneurship in South Africa. Mr Price said the program will help future-proof local businesses.
"We'll be able to identify and support founders who have a business problem they're committed to solving or a market opportunity they're keen to explore," Mr Price said.
"Starting the program with our outdoor bootcamp is a great way for businesses to kick start their understanding of their own business and set them up for the intensive immersion learning program that draws on our community of advisors, mentors, investors and customers to help maximise business traction."
Kelly Slessor, a digital and mobile marketing strategist and founder and CEO of Shop You, is the Investible program mentor. Having completed an Investible course in 2016, Ms Slessor brings a unique insight to the training.
"The program was a life-changing experience," Ms Slessor said.
"Learning from proven entrepreneurs and investors and the Investible team accelerated our development within weeks.
"The team at Investible really question your why and the problems that you are solving. They give honest and sometimes tough feedback with a real motivation of improving your product and helping you advance quicker."
The Retail Innovation Program is looking for local retail businesses to take part in this exciting program.
Successful businesses will be passionate about their business, seeking to actively grow, open to innovating and have an interest in sustainability.
To find out more or apply for the program, visit https://investible.com/retail-innovation-program/. Applications close Monday 1 March 2019.
For media inquiries or images, contact Belinda Wallis. Phone 0467 810 160 or email bwallis@cityofsydney.nsw.gov.au
For interviews with Lord Mayor Clover Moore, contact Julia Lenton. Phone 0410 748 039 or email jlenton@cityofsydney.nsw.gov.au