Winners include Algreen, a London startup converting food waste into polyurethane for foams appropriate for shoes and fabric coatings; Alt Tex, which uses food waste to produce polymers that can then be spun into yarn; KBCol, a startup developing biodegradable dyes from microorganisms; Phycolabs, a Brazilian firm making fabric from seaweed; and Rethread Africa, which converts corn and sugarcane waste into polyester.
H&M Foundation is a nonprofit funded by the Stefan Persson family together with the main owners of global fast-fashion retailer H&M. Christiane Dolva, strategy lead at the H&M Foundation, tells Fast Company that the Global Challenge Awards have provided startups with grants and mentorship for the past 8 years.