The non-profit H&M Foundation launched the Global Change Award back in 2015 with a vision to accelerate the process of creating a sustainable future for fashion and thereby protect our planet.
It has been called the Nobel Prize of fashion is one of the biggest innovations challenges in the world for early stage innovation.
With the Global Change Award we want to find and support game-changing innovations that can break the linear traditions of fashion. We look for innovations which are aligned with the UN Sustainable Development Goals and address the five global commons: biodiversity, climate, land, ocean and water.
Every year we invite innovators and entrepreneurs from all over the world to submit their early stage ideas on how to improve the sustainable footprint of the fashion industry. The five most promising innovations share a grant of 1 million euros and participate in a one-year tailor-made Innovation Accelerator Program, provided by the H&M Foundation in partnership with Accenture and KTH Royal Institute of Technology.
Neither H&M Foundation or H&M Group will take any shareholder equity or intellectual property rights in the innovations. The winners can collaborate with whomever they want, the aim is to find innovations that allow major change for the entire industry.