Home / Knowledge / News / Fashion / H&M Conscious Foundation launches biggest innovation award
H&M Conscious Foundation launches biggest innovation award
26
Aug '15
Close the loop/Courtesy: H&M
Close the loop/Courtesy: H&M
The H&M Conscious Foundation has launched the first ever Global Change Award - one of the world's biggest challenges for early stage innovation and the first such initiative in the fashion industry. By catalysing green, truly ground-breaking ideas the aim of the challenge is to protect the earth's natural resources by closing the loop for fashion, the Swedish multinational retail clothing company said in a statement.

Five winners, chosen by an expert jury, will share a grant of 1 million euros and get access to a tailor-made innovation accelerator. The global public will be invited to distribute half of the total grant through an online vote. The result will be revealed at a grand award ceremony in Stockholm, in February 2016.

“The question for fashion is no longer “What is the new black?” but rather “What innovative ideas can close the loop?” The Global Change Award is looking for ideas that will protect the earth's natural resources, and I am excited to be part of it,” said Rebecca Earley, Professor in Sustainable Textile and Fashion Design at University of the Arts London, Director of its Textile Futures Research Centre and member of the Global Change Award Jury.

The H&M Conscious Foundation is a non-profit global foundation, funded by the Stefan Persson family - founders and main owners of H&M. The mission of the Foundation is to drive long-lasting positive change and improve living conditions by investing in people, communities and innovative ideas. The Global Change Award takes on one of the biggest challenges facing today's fashion industry – to create fashion for a growing population while reducing its impact on the environment. Neither the Foundation nor the company H&M will take any equity or intellectual property rights in the innovations.

“Ground-breaking, game-changing ideas can come from anywhere, so the challenge is open to anyone. Each year the Global Change Award aims to find the truly brave and bold ideas that make change. I'm also eager to see how the fashion industry as a whole will embrace the challenge of closing the loop,” said Karl-Johan Persson, board member of the H&M Conscious Foundation and CEO of H&M.

The innovation accelerator - a collaboration with Accenture and KTH Royal Institute of Technology in Stockholm - will give the five winners the support and knowledge they need to actualize their ideas. Starting off with an innovation boot camp in Stockholm, provided by KTH Innovation, it will be followed up by guidance from Accenture Strategy on how to develop the winning ideas further. This includes the provision of a one-year training and coaching programme with a particular focus on circular economy.

The innovation accelerator will also provide exclusive fashion industry access and offer possibilities to build networks and try out the ideas within the fashion value chain. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Weforum

Textiles | On 24th Oct 2018

US world's most competitive economy: World Economic Forum

The United States topped the rankings in the World Economic Forum’s...

Textile indsutry returning to fibres made of biomass

Textiles | On 24th Oct 2018

Textile indsutry returning to fibres made of biomass

The biobased textiles segment still remains handicapped by...

Accel invests $13.5 million in India's Universal Sportsbiz

Apparel/Garments | On 24th Oct 2018

Accel invests $13.5 million in India's Universal Sportsbiz

Universal Sportsbiz Pvt. Ltd has raised $13.5 million (₹100 crore) in ...

Interviews View All

Karan Suratwala, Key Textile Accessories Private Limited

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Jim Desai, Blaiva Fabricaa

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Nitin Soni, Dolphin Jingwei Machines

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Maya Simova,

Maya Simova

Inter Expo and Congress Center (IEC) is a prominent exhibition centre in...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Harmeet Singh,

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Justin Chan & Shyam Gollakota, University of Washington

Justin Chan & Shyam Gollakota
University of Washington

A fabric that can store data without any electronics or batteries has been ...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search