H&M’s non-profit foundation is kicking off the third round of its annual Global Change Award, a €1m (£902m) grant and coaching initiative designed to encourage “innovative” sustainability.
The grant will be shared among five winners following an annual online vote on applicants’ innovations, which will open on 27 March.
The award will also include a one-year “innovation accelerator” programme to speed up the development of their ideas.
The programme, provided by the H&M Foundation in partnership with consulting company Accenture and the KTH Royal Institute of Technology in Stockholm, will take the winning teams to Stockholm, New York and Shanghai.
Karl-Johan Persson, chief executive at H&M and a board member at its foundation, said: “Now in its third year, the Global Change Award has really become a positive force in the fashion industry. It has proven to be a true catalyst for the winners, giving them support and access to a valuable network so they can bring their innovations to the market quicker and better prepared.”
It will be decided by a judging panel including Dame Ellen MacArthur, The Council of Fashion Designers of America chief executive Steven Kolb and The Hong Kong Research Institute of Textiles and Apparel chief executive Edwin Keh.
The ceremony will be held on 20 March next year in Stockholm, Sweden.
More than 2,800 applications from 130 countries were submitted last year. Last year’s winning innovations included leather made from wine-making leftovers, digital threads weaved into garments and climate-positive nylon made from water, plant waste and solar energy.