What you win
The five winners share a 1 million euro grant, and – perhaps more important than the financial contribution – get access to a one-year long Innovation Accelerator Program.
Each year, five winning teams and an Early Bird winner, are selected through a detailed scoring process. This is carried out by the H&M Foundation, our partners Accenture and KTH Royal Institute of Technology in Stockholm (KTH), an industry sounding board, as well as the international expert panel.
All partners work pro bono, and they invest substantial time in their commitment to the Global Change Award.
The winners are revealed at a Grand Award Ceremony in Stockholm. This is also the first time the winners meet the team at H&M Foundation and our partners Accenture and KTH. From then on, we work closely with the winners throughout the year, to give support, pinpoint opportunities and connect the winners with the industry.
The H&M Foundation also stays in touch with previous winners, supports and follows their developments and successes with great interest.
The use of the grant is carefully followed up through discussions and reporting, to make sure it’s used in the way it’s intended.
“The Global Change Award helped us open doors to build a network and access such confidential information in different points in the supply chains, that has been critical for us to develop the concept from an idea to actual business case. It has also helped us to grow our minds to think much bigger than we would have dared otherwise,” Ann Runnel, Reverse Resources, winner of Global Change Award 2016.
The innovation accelerator
The Grand Award Ceremony marks the beginning of the Innovation Accelerator Program. The aim of the program is to take the innovations to the next level, bring them to scale and out on the market as quickly as possible, to maximise their impact on the industry.
In addition to the financial grant, the Innovation Accelerator provides the teams with tailor-made support, tools, access and exposure to leverage and develop their innovations in the best and quickest way.
Throughout the year, Accenture and KTH coach the teams based on their needs and goals, ranging from business development to communication training and management.
To connect the teams with the industry, boost their exposure and confidence, we take them on three intensive immersion weeks in Stockholm, New York and Hong Kong.
Through the H&M Foundation the teams get industry access across the value chain to fully leverage the momentum provided by being named a winner of Global Change Award.
The teams also support each other through the Innovation Accelerator, sharing key insights and experiences as they all have the common goal of reinventing the fashion industry.
“The Global Change Award is the first of its kind challenge for early stage innovation in fashion and we are impressed by the level of bold creativity and disruptive innovation shown by the award winners. We are passionate about helping them further develop their inspiring ideas through the Accelerator Program, to support them in driving the change towards a circular fashion industry,” says Jill Standish, Senior Managing Director of Retail at Accenture.
Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions – underpinned by the world’s largest delivery network – Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With 449,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Learn more at accenture.com
KTH Royal Institute of Technology (KTH) is one of Europe’s leading technical and engineering universities, as well as a key centre of intellectual talent and innovation. It is home to students, researchers and faculty from around the world dedicated to advancing knowledge and to integrating environmental and sustainable development perspectives into education, research and collaborations.
With around 50 teams working within the fields of environment and sustainable development research, KTH acts as a driving force for the development of sustainable technical and social systems. Adding extensive experience in innovation development, KTH Innovation supports KTH researchers and students in successfully bringing new technology to the market. Learn more at kth.se.