H&M is stepping up its efforts to close the loop. H&M Conscious Foundation, funded by the Stefan Persson family, announced the launch of the Global Change Award. The award will continue the work of H&M’s Close the Loop movement, attempting to change the way garments are designed, produced, shipped, bought, used and recycled.
The Global Change Award is calling for applicants to submit “bold and disruptive early stage ideas” that will ultimately bring new approaches to garment manufacturing. The five best ideas will be selected by the H&M Conscious Foundation together with a panel of professors and organization heads in sustainability and design, as well as Franca Sozzani of Vogue Italia and supermodel Amber Valletta.
Each winner is guaranteed €100,000 of the €1 million grant, and will receive access to a tailor-made innovation accelerator, in collaboration with Accenture and KTH Royal Institute of Technology. Winners will begin with an innovation boot camp in Stockholm, followed by guidance on how to develop their winning ideas further. The prize will include one-year training and coaching with a particular focus on circular economy.
The public will be invited to distribute the other half of the total grant through an online vote. The results will be revealed at an award ceremony in Stockholm in February 2016.