The H&M Conscious Foundation, a nonprofit global foundation funded by the Stefan Persson family— founders of Swedish fashion company H&M—has launched the Global Change Award to encourage innovative ideas that can help close the loop for fashion by changing the way garments are designed and produced, shipped, bought, used or recycled.

Five winners, chosen by an expert jury, will share a grant of €1 million and get access to a tailor-made innovation accelerator—a collaboration with Accenture and KTH Royal Institute of Technology in Stockholm that will give the winners support and knowledge to actualize their ideas. The global public will be invited to distribute half of the total grant through an online vote. The result will be revealed at a grand award ceremony in Stockholm in February 2016.

Visit the Global Change Award website to learn more about how to apply for a grant. Applications will be accepted through Oct. 31, 2015.

Source: H&M Conscious Foundation