Hult Prize Challenge on Redesigning Fashion for All

Hult Prize Challenge on Redesigning Fashion for All

The 2023 Hult Challenge is now open for applications to create a for-profit social venture in the fashion/ clothing industry.

Every year, one team receives $1M USD in funding to make their idea a reality.

Today's fashion industry is huge. It's the world's third largest manufacturing sector, contributing $2.4 trillion to the global economy.

Over 150 billion articles of clothing are produced each year.

Fashion employs 300 million people across its value chain - a sixth of the world's work force.

The fashion industry is responsible for up to 8% of the World's greenhouse gas emissions - more than all international flights and maritime shipping combined.

It consumes 215 trillion a year and accounts for 9% of the microplastics found in our oceans.

For the majority of workers, conditions are dangerous and exploitative.

Compensation is often below a livable wage, especially for women who comprise 80% of the workforce.

The industry must change. If not, the UN has little hope of meeting its Sustainable Development Goals by 2030 deadline. It's time to rethink every stage of the fashion industry's ecosystem from how we source textiles and manufacture garments to how we buy them and dispose of them.

Application Procedure

Step 1: Align with one

or more of the UN's Sustainable Development Goals

Step 2: Choose an area of impact in the fashion industry's value chain that you feel passionate about

Step 3: Build your team

Step 4: Explore your idea with design thinking

Step 5: Develop your Step 6: Create your pitch. Business plan.

Step 7: Compete

Competition Details

You'll need to make it through three qualifying rounds to compete in Finals in Paris for the $1million prize.

Round 1: On Campus: Year-round Compete with other teams at university or apply independently through the general application.

Round 2: Summits June and July Campus finalists choose one of multiple cities worldwide where they compete alongside other teams worldwide for a spot at our 4-week Global Accelerator program.

Round 3: Global Accelerator September Semi Finalists transform their business ideas into investment ready social ventures with four intensive weeks of mentorship and preparation at a thrilling world class destination.

Round 4: Finals September Only a few select teams will be chosen as finalists to pitch before globally renowned judges in Paris.

Deadline: 31st October 2022

How to Apply

For more information and job application details, see: Hult Prize Challenge on Redesigning Fashion for All

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