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H&M Foundation opens entries for Global Change Award
13
Sep '17
Courtesy: H&M
Courtesy: H&M
Beginning September 13, H&M Foundation is opening entries for Global Change Award, one of the world’s biggest challenges for early stage innovation and an initiative in the fashion industry. The 5 winners will share a €1 million grant, along with a one-year innovation accelerator programme providing tailor-made support and access to the fashion industry.

The annual Global Change Award aims to protect the planet and living conditions by accelerating the shift from a linear to a circular fashion industry. The candidates can apply for the third round till October 31, 2017.

"Now in its third year, the Global Change Award has really become a positive force in the fashion industry. It has proven to be a true catalyst for the winners, giving them support and access to a valuable network so they can bring their innovations to the market quicker and better prepared. I’m really curious to see what disruptive innovations we will receive this time," said Karl-Johan Persson, board member of the H&M Foundation and CEO of Hennes & Mauritz AB.

An expert panel with extensive knowledge within fashion, environment, circularity and innovation will select the five winners. Besides sharing the grant, the winners are provided with a one-year Global Change Award Accelerator Program that will speed up the development of their innovations and maximise the impact on the industry. The program will take the teams to Stockholm, New York and Shanghai.

This year, the competition will look out for five new radical ideas within digitisation, waste and climate positive.

"Sustainable and responsible consumption is the way forward. We must find better ways to make what we use, and wisely use what we have. The Global Change Award is an important initiative to drive this forward. By intentionally and thoughtfully reusing, recycling, and repurposing, we can drive significant and radical improvements to our world," said professor Edwin Keh, chief executive officer, The Hong Kong Research Institute of Textiles and Apparel and member of the expert panel.

"Winning the Global Change Award opens a lot of significant doors and provides a powerful boost through funding, coaching, access and validation that you probably can’t find elsewhere. If you want to reinvent one of the largest industries in the world, this is the place to go," said Erik Bang, program manager Global Change Award, H&M Foundation. (RR)

Fibre2Fashion News Desk – India


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