Ebay UK has announced the launch of a Circular Fashion Innovator’s Fund alongside the British Fashion Council (BFC) in a bid to support small businesses.
The fund will offer 100,000 pounds to handpicked businesses, with Ebay set to provide expertise on scalable companies and BFC to leverage its network to identify and assess potential circular solutions.
Applications for funding are open until November 3, with those interested able to apply via a dedicated site.
A shortlist of 10 businesses will be invited to pitch to a panel of industry experts from Ebay and other organisations, who will then choose six overall recipients of the funding.
Each of the winners will be granted 15,000 pounds, with a final winner to receive an additional 10,000 pounds.
Alongside financial support, winners will also participate in a six-week mentoring programme, complete with one-on-one sessions with business leaders and networking opportunities.
In a release, Lucy Peacock, head of pre-loved at Ebay UK, said: “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.”