FAQS
Application Related Questions
What are the basic requirements to apply?
Company must be female-founded, meaning there must be a female founder or co-founder OR women on the management team with significant equity stake. She will serve as the lead representative for the company and will be the point of contact for the program. Please have this company representative complete the application.
Founder/Co-Founder should plan to be in New York City for the 12 week program (March - June)
The Lab is open to any innovation at the intersection of fashion, retail, and technology. Our fashion and retail partners want to see companies pioneering technology solutions from this list: http://www.nyftlab.com/whoshouldapply/
Companies must (at least) have a robust, functional beta and possess a solid founding team with one technical member.
Is there a fee for applying or joining the program?
For those companies accepted into the program, there is a $2,500 participation fee. In support of our mission to promote women-led ventures and to fuel the growth of Springboard's Global network, we also encourage you to make a commitment to provide a 1% warrant donation. Please contact info@nyftlab.com for a copy of the commitment letter or a template for donating warrants.
There is also a $250 non-refundable application fee to apply and ensure quality of review by our team and senior, decision-making executives at our Lab Partners.
We do not currently live in the United States. Can we still apply?
Yes, you can still apply. However, you must have eligibility to work in the United States and/or obtain visas on your own. The NYFTL will not sponsor visas.
Member(s) of senior management work for one of the participating organizations (Partnership Fund for NYC, Springboard Enterprises, a retail or fashion partner, venture capital portfolio company, etc.), can we still apply to the NYFTL?
Yes, but you must disclose your affiliation on your application form.
Our company has received funding already. Can we still apply to the NYFTL ?
Yes, you can apply to the program if you have received funding. Please be sure to include details regarding past rounds of financing on your application.
What is the NYFT Lab's policy regarding privacy and conflicts?
Please refer to our Privacy Policy.
What if our company has concerns for competitive reasons about one or several of the participating fashion retailers reviewing our application?
Please note this concern in the "additional information" section at the end of the application along with the name of the company/fund with which there is a potential conflict. That company/fund(s) will not have access to your application during the initial review process. However, they will have access to the elevator pitch and basic corporate info (i.e. company name, address, contact, etc).
What happens if we turn our application in late?
We will not accept late applications under any circumstances.
General Questions
What stage of companies does the Lab focus on?
The NYFTL focuses on early to growth-stage companies with at least a beta technology/product, especially those which will benefit from the senior access and relationships at the Lab's participating retail institutions.
We are also interested in growth-stage companies that have a product being deployed outside fashion retail that are interested in entering the fashion retail vertical.
If our company is chosen for the NYFTL, how long do we have to stay in New York City?
Your company's founder/co-founders should be in New York City during the 12-week program.
If our company is chosen for the NYFTL will we be provided space after the end of the program?
No, space is available only for the duration of the program. However, we will assist all Lab companies with the process of finding office space in New York City.