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STOCKHOLM – H&M Foundation has put one million Euros up for grabs as part of its fourth annual innovation challenge. The non-profit is keen to welcome innovations with a focus on digitisation this year, in an in initiative which has seen more than 8,000 entries from 151 countries since 2015. The initiative provides powerful funding and yearlong coaching to innovators who come up with solutions to help the move towards a circular fashion industry. The applications period is open until 17 October.

The Global Change Award was initiated in 2015 by H&M Foundation, in collaboration with Accenture and the KTH Royal Institute of Technology in Stockholm.

Said Karl-Johan Persson, board member of the H&M Foundation and CEO of H&M: “New ideas are the foundation for change, but scaling them is an enormous challenge for every innovator. Together with our partners Accenture and the KTH Royal Institute of Technology, we’ve seen previous winners cut years off their timeline through our accelerator program. Now, we are eager to welcome five new circular heroes and encourage everyone who wants to reinvent one of the world’s largest industries to apply.”

The top five countries with the highest number of entries to the award since 2015 are India, US, Italy, Nigeria and UK. Criteria assesses entries on areas such as circularity potential, impact and scalability, that the idea is novel and economically sustainable and that the team is suited to make a difference.

Steven Kolb, president and CEO The Council of Fashion Designers of America & member of the Global Change Award 2019 Expert Panel: “Innovation and collaboration lead fashion’s shift to circularity and a more sustainable future. The Global Change Award’s support to material and systems innovators not only helps to accelerate the success of each individual awardee but also impacts the progress of the global fashion industry.”

See more at https://globalchangeaward.com/

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