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The Circular Fashion Innovator’s Fund, which launched last week, is aimed at small businesses specialising in circular fashion technology in areas such as customer experience, circular inventory and services, and social commerce.
The British Fashion Council will identify and assess the circular solutions that are most likely to succeed.
Environmental charity Hubbub will support the judging process in an advisory role.
Applications will remain open from now until 3 November and each of the six winning businesses will be awarded a £15,000 grant, with the final overall winner receiving an additional £10,000.
Caroline Rush, CEO at the BFC, said: “Supporting excellence and innovation is at the core of what we do. We all have a part to play in creating a positive future for the fashion industry and now more than ever, it is crucial that the fashion community does its utmost to protect and nurture innovative start-ups and small businesses specialising in circular fashion solutions.
“Through our Institute of Positive Fashion, our main goal is to encourage global collaboration and local action through education and information sharing to help the British fashion industry to be more resilient and circular. The Circular Fashion Innovator’s Fund is an excellent initiative, and we look forward to seeing all the ideas that each applicant has to offer.”
Lucy Peacock, head of pre-loved at Ebay UK, said: “There’s widespread acceptance across the fashion world that circularity is key for the long-term success of the industry. Over the past few years, there have been so many brilliant start-ups and small businesses that are changing the way we think about a circular fashion economy.
“We hope that the Circular Fashion Innovator’s Fund will help scale these innovative start-ups in size and reach, and in turn make sustainable fashion practices more accessible to more people and businesses.”
In May this year, Ebay became the first pre-loved fashion partner to couple up with ITV’s Love Island.
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