Five pioneering companies have been awarded a share of €1 million in the H&M Foundation’s Global Change Award. The overall winner, GALY, walked away with €300,000, for its Incredible Cotton product made using biotech processes in the lab.
“Winning the Global Change Award validates the recognition and belief in our vision as a company and open new doors for partnerships, technology and call to action for the entire industry. We are going to work hard to make our vision come true and we believe this award is one of the most important steps for this accomplishment,” said Luciano Bueno, Founder and CEO of GALY.
All five companies will join the year-long Innovation Accelerator Program, supported by Accenture and KTH Royal Institute of Technology.
“H&M Foundation continues to support entrepreneurs and innovators for long-term sustainability. Every year I am amazed by the ideas submitted to the Global Change Award. The innovations are in themselves challenging the way we think about fashion. We are moving away from the old, linear ways of thinking, and move faster towards a planet positive and sustainable model. The winning innovations will help our industry reinvent itself and hopefully also inspire even more great minds out there,” says Karl-Johan Persson, board member of H&M Foundation.