Global – Apparel retailer H&M is highlighting the funding gap for sustainable innovators through a virtual fashion collection.
Building on its annual Global Change Award, led by its non-profit Foundation, the collection provides a creative format for quantifying the investment needed to scale up entrepreneurial innovations within the sustainable fashion space. Dubbed the Billion Dollar Collection, this digital garment range represents 10 start-ups – all previous winners of the award who were selected based on their breakthrough material innovations.
Each item in the collection comes with a price tag ranging from £43,000–£86.2m ($60,000–$120m, €50,000–€100m), reflecting the estimated funding that H&M believes is needed to scale up the various technologies – which range from algae-based thread to textiles made from stinging nettles. ‘We have worked with innovators for many years now and their biggest hurdle to realis[ing] their ideas is funding and support to build scalable technology solutions,’ says Diana Amini, global manager of the H&M Foundation. ‘They also need collaboration partners like fashion brands and suppliers.’
H&M is highlighting the importance of funding and partnerships in the sustainability sector. To discover more actions shaping the future of sustainability, explore our dedicated vertical.