The Fashion Manufacturing Initiative (FMI) Grant Fund, the tentpole program under FMI, is entering its ninth round of funding to nurture, elevate and preserve local fashion manufacturers through financial grants for a myriad of business support areas.
Donor Name: Council of Fashion Designers of America (CFDA)
State: New York
Borough: Manhattan, Brooklyn, Queens, The Bronx or Staten Island
Type of Grant: Grant
Deadline: 03/01/2024
Size of the Grant: $100,000 to $500,000
Grant Duration: Grant Duration Not Mentioned
Details:
The Fashion Manufacturing Initiative (FMI), created in 2013 between the CFDA and Andrew Rosen, in partnership with the New York City Economic Development Corporation, celebrated its 10th anniversary last year, marking a decade of continuous support of local New York City fashion manufacturers.
The grant requests can include support for: upgrading machinery and/or equipment; acquiring new and innovative software and/or non-machinery technology; implementation of workforce training or upskilling; hiring consultants to strategize and implement business goals and evaluate current structures; investments to advance sustainable strategies and processes; capital improvements to support expansion; and relocation between NYC’s five boroughs.
Funding Categories
The FMI Grant Fund provides partially matching grants to NYC-based fashion manufacturers committed to improving their business and services related to following categories listed below:
Upgrade machinery and/or equipment
- Acquire new and innovative software and/or other non-machinery technology.
- Implement professional workforce training on the latest technology or upskill your workforce on the latest technology and equipment
- Hire a professional consultant to strategize and implement business goals and evaluate current business structure
- Investments to provide advancements in sustainability / sustainable strategies or processes
- Cover costs to relocate to a new location within the five NYC boroughs
- Capital improvements to your space to support expansion
Funding Information
The maximum amount that be requested for the total grant request is $300,000.
Eligibility Criteria
Qualifications for applying will include but are not limited to:
- Business must be headquartered in one of the five boroughs of New York City (Manhattan, Brooklyn, Queens, The Bronx or Staten Island)
- Business service is either:
- (a) A contract manufacturer that specializes in the development, sampling and/or production of fashion products (clothing, accessories or jewelry)
OR - (b) A manufacturer that specializes in the development and/or production of innovative fabrics/materials.
- NOTE: Brands with in-house production who do not do contract manufacturing for brands outside of their own do not qualify.
- (a) A contract manufacturer that specializes in the development, sampling and/or production of fashion products (clothing, accessories or jewelry)
- Must be an active business and generating revenue for at least two (2) years (i.e. your business has been operating since or before 2021).
- Business must be a small to medium-sized business with under $10 million in annual revenue.
- Business agrees to undergo a social compliance audit as well as a city compliance audit and financial review as part of the program requirements to be considered for a grant. More information on both audits can be found on the program brief.
For more information, visit CFDA.
