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eBay announced expansion of its “Circular Fashion Fund” to Germany, a move that underscores the company’s commitment to promoting sustainability in the fashion industry. By 2025, eBay will invest $1.2 million globally in fashion startups that develop innovative solutions for the circular economy, helping to revolutionize the way fashion is produced, consumed, and recycled.
The Circular Fashion Fund aims to help fashion startups scale circular solutions, from production to the end of the life cycle, including rental and repair services. Applications are open now until November 15, 2024. Innovative tech startups and small businesses can apply through the eBay website.
Since its launch in the UK in 2022, the Circular Fashion Fund has supported 15 companies in scaling their circular solutions, including “The Seam,” which enables large-scale care and repair services for clothing to extend their lifespan, and “RCYCL,” which has developed an innovative recycling program for worn-out clothing at home. The Circular Fashion Fund, now in its third year in the UK, is being introduced for the first time in the US and Germany after a successful expansion to Australia last year.
As part of eBay’s commitment to the circular economy, the global expansion of the Circular Fashion Fund allows for greater reach to invest in companies that bring new technologies and services to market, helping people rethink how they shop. eBay is changing the buying and selling experience, enabling more brands, sellers, and buyers to participate in the circular economy.
The Circular Fashion Fund will invest $1.2 million in startups across global markets by the end of 2025 and provide over 200 hours of mentoring and networking support for applicants through industry experts.
Collaboration with Fashion Council Germany and Industry Experts
In Germany, the Circular Fashion Fund will be launched for the first time in 2024, in collaboration with the Fashion Council Germany. The winner will receive a prize of €50,000, while the two runners-up will each receive €25,000. All three finalists will benefit from tailored mentoring sessions, workshops, and networking opportunities.
The winners will be selected by a jury of industry experts in fashion, science, and sustainability. They combine extensive knowledge from these sectors, ensuring that the most innovative and impactful concepts will be supported.
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