MUMBAI, 17th AUGUST 2019 (GPN) : Circular Changemakers, India’s first investment readiness program for circular fashion start-ups is a program created by Intellecap’s Circular Apparel Innovation Factory (CAIF) in partnership with Circular Design Challenge that was launched by LFW, R Elan’s Fashion For Earth and UN Environment – has announced a shortlist of six start-ups. These circular economy start-ups will present their scalable, post-prototype and revenue-generating solutions which must be less harmful and provide renewable inputs to the textile and apparel industry at Lakmé Fashion Week Winter/Festive 2019.
The finalists – Stylumia Intelligence Technology Pvt Ltd by Ganesh Subramanian, Reverse Resources by Ann Runnel, JSP ENviro Pvt. Ltd by V T Fidal Kumar, Saathi Eco Innovations by Tarun Bothra, Canva Fibre Labs by Shikha Shah and Greensole by Shriyans Bhandari were chosen by IMG Reliance and CAIF through a scoring criteria, due diligence as well as inputs from strategic investors who will be on the jury. The changemakers will pitch their business models to an eminent jury on the 22nd August, Sustainable Fashion Day of Lakmé Fashion Week Winter/Festive 2019.
The jury comprises strategic investors who are experts from across fields – Priyanka Khanna, Lead – International Expansion, Fashion for Good, Kartik Desai, Executive Director, Asha Impact, Vineet Rai, CEO & Managing Director, Aavishkaar Venture Management Services, Erik Karlsson, Head of H&M Co:Lab, Manasi Kirloskar – UN in India Young Business Champion for SDGs, and Radhika Nath – President of IMC Ladies Wing.
Jaspreet Chandok, Vice President and Head of Fashion at IMG Reliance said, “This is the first edition of the Circular Changemakers program which aims to evolve mindsets, create conversations and support circular fashion enterprises through strategic collaborations and investments. We have seen innovative prototypes ranging from alternative fibres and building efficiency in waste management to using big data to decode consumer demand of fashion. We’re extremely excited for our Changemakers to pitch their models which will help them build their prototypes into sustainable solutions.”
The shortlisted changemakers underwent a rigorous bootcamp by CAIF which focused on three modules Capital Raising’, ‘Business & Financial Modelling’ and ‘Investor Pitch Preparation’ which provided mentoring in the sustainable and circular fashion space. Changemakers will get the opportunity to receive strategic investments and partnerships through their pitch to a group of potential strategic investors from reputed impact investment funds. ENDS