The Swedish fashion company, second in the world by revenue, gives a one-million-euro reward to the best innovation to make the sector more sustainable.
H&M keeps the lookout to speed sustainability. The Swedish fashion retailer, second by revenue, summons the fifth edition of its Global Change Award, that gives a one-million-euro reward.
The group will reward five projects thorough the H&M Foundation. Besides the economic reward, the prize includes the participation of the winners in an innovation project, with one year of duration, in Stockholm, New York and Hong Kong, with the support of H&M Foundation, Accenture and the
Real Institute of Technology of Stockholm.
The goal is to provide funds and knowledge to the winners to make its projects scalable and launch them to the market as fast as possible to maximize its impact in the industry.
“This year, we are especially looking for innovations that make it easier for us as consumers to act more sustainably, ideas that use technology and data that make the fashion industry smarter and solutions that facilitate design with a circular intention”, stated Erik Bang, lead of innovation for H&M Foundation.