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The Queensland University Technology (QUT) is inviting budding fashion entrepreneurs to apply for the QUT Creative Enterprise Australia's Fashion Accelerator program.

The initiative aims to offer students hands-on experience in the industry with access to high-tech facilities, networking events, mentoring and individual workspaces at a diminished cost.

Successful applicants will pay $550 a month for the program with the estimated industry value totalling $3500 per month.

QUT Creative Enterprises Australia CEO Anna Rooke believes that the scheme can help develop key business skills needed to succeed in the market.

"The intensive program encompasses critical business components including technical and development, business and finance, range development and branding, marketing and public relations.

“We have an excellent track record of Fashion Accelerator alumni who have continued to achieve outstanding results and awards for their work.”

Previous participants include Christie Murray and Hayley Elsaesser who have both showcased their designs at Mercedes-Benz Fashion Week Australia (MBFWA).

Students can apply for the program online with applicatons closing on January 15, 2016.

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