by Apparel Resources News-Desk
17-August-2019 | 3 mins read
Lakmé Fashion Week’s Circular Changemakers has announced the 6 shortlisted start-ups.
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, Circular Changemakers is India’s first investment readiness programme for start-ups that promote circular fashion.
The select start-ups will compete by presenting scalable, post-prototype and revenue-generating solutions that must be less harmful and provide renewable inputs to the textile and apparel industry at Lakmé Fashion Week Winter/Festive 2019.
The finalists include 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.
These circular economy start-ups were chosen by IMG Reliance and CAIF through a scoring criteria, due diligence, further supported by the feedbacks of strategic investors that constituted the jury.
The business models will be pitched to the jury on the Sustainable Fashion Day of Lakmé Fashion Week Winter/Festive 2019, 22 August.
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 form the eminent jury.
Jaspreet Chandok, Vice President and Head of Fashion, IMG Reliance said, “This is the first edition of the Circular Changemakers programme, 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 enthusiasts undertook a CAIF-hosted bootcamp revolving around 3 modules Capital Raising’, ‘Business & Financial Modelling’ and ‘Investor Pitch Preparation’ that mentored them in the sustainable and circular fashion space. The platform will provide the changemakers an opportunity to receive strategic investments and partnerships through their pitch.
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