A new space is opening in the borough, where budding designers and entrepreneurs can launch their ideas and get the mentoring they need to create a successful business.

The Brooklyn Fashion and Design Accelerator was opened by the Pratt Institute. They turned the 21,000-square-foot space in the old Pfizer building into a workspace and a production facility for design students and fashion start-up businesses.

Each designer then pays between $300 and $600 a month to use the facility. With that fee, they get access to office space, equipment and mentoring from seasoned designers.

The goal of the space is to help start-ups get on their feet and create successful, money-making businesses.

So far, there are 16 start-ups in the space that holds 30. The program is currently accepting new applications.