The Global Change Award is a competition that looks for innovative ideas to revolutionize the fashion industry. The H&M Foundation chooses and assists the top five ideas that have the most significant impact on creating a fashion future that benefits the planet. This year, the H&M Foundation has increased the number of winners and grant amounts to accelerate the transformation.
“We have an urgent opportunity to support innovations that could transform the entire fashion industry – that’s why we’re doubling the grant and the number of winners. We’re giving these innovators a total of 2 million euros and access to our accelerator program – but we’re also giving the industry an opportunity to connect with these brilliant innovators. I’m excited to see the impact these innovators will make on the industry.” – Karl-Johan Persson, H&M Foundation board member and chairman of H&M Group.
The H&M Foundation has launched the GCA program to support early-stage innovations in moving from idea to scale quickly. Each winner of the program receives €200,000 and a year-long GCA Impact Accelerator, where they receive tailored coaching and support from core partners Accenture, KTH Royal Institute of Technology, and The Mills Fabrica. Christiane Dolva, Strategy Lead of H&M Foundation, believes that this year’s winners have the potential to transform the fashion industry and create a positive impact. Neither the H&M Foundation nor the H&M Group claim any shareholder equity or intellectual property rights in the innovations, and the winners are free to collaborate with anyone.
