2017 FMI Grant Application Outline - Amazon Web...

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2017 FMI Grant Application Outline

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FMI was created to nurture, elevate, and preserve garment production in New York City. In addition to the FMI Grant Program, FMI includes an NYC Production Directory on CFDA.com, Professional Development & Collaborations, and Workforce Development opportunities.

The FMI Grant Program is a partially matching grant fund, which allows fashion production facilities to grow and elevate their businesses through the acquisition of innovative equipment, advanced technology, workforce training, business consulting services, relocation costs, and capital improvements.

Since 2013, the FMI Grant Program has awarded $2.3 million to 22 different NYC Production Facilities through 27 individual investments. Grants range from $10K to $300K.

The CFDA works closely with each FMI Grant Recipient to track and assist their successes throughout the year following grant approval. Each factory is required to submit updates that are reviewed and analyzed to better assist each existing grant recipient and to further develop the program for maximum success in future. With grant funding, factories have introduced new and innovative hardware into their production lines, as well as specific action plans for sustainable long-term growth.

Grant Program Background

Fashion Manufacturing Initiative

The Fashion Manufacturing Initiative (FMI) was initiated by Andrew Rosen of Theory and the Council of Fashion Designers of America (CFDA) in partnership with the New York City Economic Development Corporation (NYCEDC).

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New York City-based factories can apply for grants that can be used to:

• Upgrade to state-of-the-art machinery and equipment• Invest in new, innovative technologies and software• Implement professional workforce training on the latest fabrication

technologies and equipment• Hire a professional consulting service to implement business goals and

evaluate current business structure• Cover relocation costs based on the current/future lease agreements

(should not exceed 25% of total grant)• Make capital improvements to support expansion (should not exceed 20%

of total grant)

Criteria, Eligibility & ProcessGrant Investment Request Criteria

In order to apply, factories must:

• Have been in business for a minimum of two (2) consecutive years;• Be a factory/production facility within the fashion industry;• Be located in one of the five (5) boroughs of New York City;• Have support/business (i.e., orders) from key designers/brands;• Have professional staff that can devote the time and effort required to

accomplish the stated aims of an applicant’s plans.

To receive an FMI Grant, production facilities undergo a rigorous selection process in which the applicants detail their service offerings, capacities, clients, and, most importantly, their vision for their business’s future and the future of garment manufacturing in NYC.

The steps on the following page outline the selection process in greater detail.

Business Eligibility Requirements

Application and Selection Process

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Step 1: Call for ApplicationsThe FMI Team makes a formal call for applications through CFDA.com and through external media outlets. The Team also conducts extensive outreach to CFDA Membership for production references and engages in personalized outreach to potential factory applicants.

Step 2: Application DeadlineFactories complete the FMI Grant Program Application by detailing their company’s history and providing an initial request for funds within any of these five categories: equipment, technology, workforce training/consulting services, capital improvements, and moving expenses. Applicants must also submit an Impact Statement detailing how the Grant will positively affect their operations and the NYC fashion industry.

Step 3: Semi-Finalist SelectionThe FMI Selection Committee, including members from NYCEDC and the CFDA, meet to screen applications and select SEMI-FINALISTS. Semi-Finalists must submit supplementary information regarding their requests, including further clarity on their financial asks, verification of ability to match fund requests, and letters of recommendation.

Step 4: Finalist SelectionThe FMI Selection Committee meets to carefully review each application request and supplementary information packet in its entirety. The FMI Selection Committee then votes on which applications will move to the next round as Finalists.

Step 5: Factory Site VisitsEach Finalist must undergo a site visit by members of the FMI Team and FMI Selection Committee. The purpose of the site visits is to gain further clarity and background on the applicant factory and their request.

Step 6: Finalist InterviewsEach Finalist must complete an in-person interview with the FMI Selection Committee at CFDA Headquarters. The purpose of the interview is to provide the FMI Selection Committee and the Applicant the opportunity to ask clarifying questions about the grant request.

Step 7: Social Compliance and Financial AuditsAs part of the FMI Grant Program’s due diligence process, each prospective Grant Recipient must undergo a social compliance audit and a financial audit in order to receive grant funding.

Step 8: Grantee Announcementand Award DistributionEach facility that successfully completes the requirements of the social compliance audit and the financial audit is then confirmed as a Grant Recipient. The FMI Team and NYCEDC make an official announcement through CFDA.com and external media channels. Internally, the FMI team works to complete official contracts, distribute grants, and verify matching funds.

Step 9: Program EvaluationThroughout the following the year, Grant Recipients must check-in with the FMI Team to provide periodic updates on the progress of their grants. The FMI Team uses this feedback to refine and update the application process for continued success.

Application and Selection Steps

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2017 - 2018 Application TimelineFMI Grant Application Submission DeadlineAugust 24, 2017

Semi-Finalists SelectedSeptember 2017

Finalists Selected + Facility Site Visit by the FMI TeamOctober 2017

Finalist Interview with FMI Selection CommitteeNovember 7, 2017

Third-party Social Compliance and Financial AuditsNovember 13 - 30, 2017

Year 5 FMI Grant Recipient Announcement Jaunary 2018

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• The maximum Total Investment amount that may be requested is $300,000.

• FMI Grant provides TWO THIRDS (2/3) of the Total Investment amount in the form of cash and in-kind support.

• Each FMI Grant Recipient must match 33 cents to each dollar of the Total Investment amount requested.

• FMI Grants are considered taxable income. Therefore please be advised that, at the end of the calendar year, the value of any prizes, awards, goods, services and/or valuable consideration you have received (or may hereafter receive) in connection with your participation in FMI may be reported for tax purposes to the IRS as required by law. It is solely your responsibility for reporting and paying any and all applicable taxes and expenses related to any and all such consideration received by you.

Application Details

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Bestec ConceptCoyote Leather & SuedeCreate-A-MarkerDavid Wolfson & AssociatesDesign IncubatorDyenamixDynotexFour Seasons MFGFuntastic FursHC ContractingHigh ProductionsInStyle USA

Le Studio AnthostMartin Greenfield ClothiersNew York Binding Co.New York Embroidery StudioOomaru Seisakusho 2Rainbow LeatherSunrise StudioVogue Too Pleating, Stitching & EmbroideryWerkstattZoila Sample Room

2013 - 2017 FMI Grant Recipients

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“FMI was very helpful and easy to work with in helping us to obtain these new technologies and making it all possible.” - David Wolfson and Associates, FMI Grant Recipient 2015-16

In Their Own Words: FMI Grant Recipient Experience

David Wolfson and Associates

“We feel very grateful for the support that the grant and CFDA has given us both from a funding and networking perspective. Without the grant, we would not have been able to upgrade our CAD system, which has been one of our largest concerns these past couple of years. Also, being able to participate in the events and meetings has broadened our relationships with designers, vendors and other organizations which we would not have been able to meet without the CFDA.” - Oomaru Seisakusho 2, Inc., FMI Grant Recipient 2014-15

Oomaru Seisakusho 2, Inc.

“Without the funding, we would have never been able to acquire high tech equipment like this. With proper training and management, system like this will help to improve our quality and also efficiency.” - Dynotex Inc., FMI Grant Recipient 2014-15

Dynotex, Inc.

“The FMI grant was instrumental in allowing our factory to remain competitive in a congested manufacturing field. The process was amazing.”- Four Seasons Fashion Mfg., FMI Grant Recipient 2015-16

Four Seasons Fashion Manufacturing

2017 FMI Grant Application Outline - Amazon Web...

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