Value Chain Investment Programme
FashionTT has just closed off its Value Chain Investment Programme Open Call to designers. This programme is aimed at providing designers strategic assistance to improve their business performance at varied stages of development.
During the interview process, designers will be assigned to different programmes based on the expert panel assessments of their needs. All designers interested in obtaining funding from FashionTT during the fiscal are required to participate in the interview process.
To hear what past participants of VCIP have to say click their name: Wadada Movement, Charu Lochan Dass, Janelle Forde, Shari Cumberbatch, Ted Arthur, Pulchritude Designs, Adrian Foster, The Hideout Clothing, Bene Caribe, IsayU Clothing and Ecliff Elie.
About the Value Chain Investment Programme
The Fashion Value Chain Investment Programme (VCIP) is one of the core projects of the Strategic Plan for the Fashion Industry. This programme assesses local firms by an independent international panel who will categorize firms into one of the four levels of the VCIP:
- The Global Value Chain (GVC) Support Programme
- Non-Global Value Chain (non-GVC) Support Programme
- Incubator Programme for New/Young High Potential Companies or Partnerships
- Firms that are Earmarked for Future Support
The VCIP is a landmark initiative that began in July when the Trinidad and Tobago Fashion Company Limited (FashionTT) convened a three-member international panel to interview twenty-one designers in Trinidad and Tobago. Each candidate was scored based on their responses to a series of questions related to fifteen VCIP criteria:
- Brand Story/Relevance
- Market Experience | Brand Positioning/Clarity
- Design Know-how and Capabilities
- Consumer Knowledge
- Commercial Viability
- Retail Understanding
- Sales Capability/Processes
- Export Production Capacity
- Product Quality | Based on Samples Presented
- Brand Presence
- Marketing Strategy
- Equipment/Operational Capabilities
- General Management
- Financial Health
- Financial Compliance
- Tie-breaker | Total Value of Orders Received, Shipped, Invoiced and Collected
In 2016, based on their scores, five designers were accepted into the Non-GVC Programme – Millhouse, Ecliff Elie, J Angelique, Charu Lochan Dass and Ted Arthur Leather Collections – in the 2016 programme. These firms received support in improving up to two elements of their value chain by refining their in-house performance or outsourcing some steps locally. This support was provided by Professor at the Fashion Institute of Technology and consultant, Vincent Quan over a one-year period who worked closely with these designers to harness their most significant value chain potentials.