H&M has announced that the applications for its Global Change Award (GCA) have now opened, as it calls on innovators and entrepreneurs to apply for a chance to win their share of a one million euro grant.
Five winners will ultimately be selected and will also gain access to the company’s one-year long GCA Impact Accelerator, with the grant to be provided by the H&M Foundation.
Initially launched in 2015, the award has seen several former winners go on to scale up their businesses, H&M said in a release, as they are provided with freedom to collaborate and look to make a major industry change.
For 2023, the retailer said it had updated its scope to cover more ground, with winning innovations or solutions to fall in one of three categories; Regenerate, Repurpose and Reimagine.
A panel of experts from the H&M Foundation, Accenture, KTH Royal Institute of Technology, The Mills Fabrica and a further international jury, will select the final winners.
The organisations involved in the panel will also be driving the GCA programme, supplying support to the winners on developing their businesses.
The application period runs from October 20 to December 8, with recipients to be announced in June 2023.