Here is good news for bright minds in fashion industry from H&M Foundation, announcing a hefty amount of one million euros for its Global Change Award to find, support, and scale innovative ideas helping in the protection of the planet and turning the fashion and textile industry eco-friendly.
According to the Foundation, the momentum to transform the industry has never been stronger in the past, as it has become relevant to modern-day requirements. Therefore, it has taken the initiative of encouraging new ideas on how to make the industry planet positive by changing the prevailing mindset of key players in the sector.
The Foundation, while inviting brilliant brains from around the world, has made it clear that it would neither take any shareholder equity or intellectual property rights of those participating in the competition. Instead, the winners will be free to collaborate with whomever they desire, as the sole objective of the exercise is to let the industry change its behavior with the help of any agent of change from across the globe.
Three categories have been set for the winning ideas, including regenerate, repurpose, and reimagine while the Foundation would consider the ideas on the touchstone of their planet’s positive impact, ability to scale, experience, capacity, and novelty. Besides the cash prize, the Foundation will also offer coaching and support of its partners
