eBay has introduced the Circular Fashion Fund, with a primary focus on promoting the circular economy by supporting innovations that extend the lifespan of clothing. This fund is designed to back start-ups that are actively reshaping customer behaviour within the fashion industry.
The competitive grant program includes a substantial AUD$100,000 cash investment for the winner, while each of the two runner-up winners will receive AUD$50,000 for their business.
Key Dates:
- Applications open September 25, 2023, and close November 10, 2023.
- Shortlist announced November 17, 2023.
- Shortlisted applicants will have the opportunity to present their proposals to a panel of experts and eBay leadership during the week starting November 27, 2023.
- The three finalists will embark on a comprehensive program comprising mentoring, training, and networking opportunities, culminating in a showcase event to announce the overall winner during the week commencing February 26, 2024.
Applications will be evaluated based on the following criteria:
- The ability to leverage emerging technologies to create products or services which advance the fashion circular economy.
- Having a unique value proposition that has game-changing advantages over other alternatives.
- The business model is commercially viable and economically desirable.
- The business or its created works or services addresses a need and solves a problem.
- The business has an immediate and longer-term positive impact on people and the planet.
Innovations dedicated to improving clothing’s longevity, reusability, and recyclability could be a game-changer in waste reduction. The Australian Fashion Council estimates that an average Australian buys 27 kilograms of new clothing each year while disposing of a staggering 23 kilograms.
Businesses investing in reshaping the future of fashion and sustainability can submit their applications here!
If you want to know more about research and development or need help with it, just reach out to us. We’re here to share what we know about grants, tax benefits, discounts, and other opportunities.
