7th December 2022, Kathmandu
Clothing is a basic need. It keeps us warm and dry. It protects us against the sun. What we wear also fills a critical social need, helping us express our personal and cultural identity. Today’s fashion industry is enormous.
It’s the world’s third-largest manufacturing sector, contributing $2.4 trillion to the global economy. Over 150 billion articles of clothing are produced each year. Fashion employs 300 million people across its value chain*—a sixth of the world’s workforce.
Unfortunately, all this comes at a terrible environmental and social cost. The fashion industry is responsible for up to 8% of the world’s greenhouse gas emissions—more than all international flights and maritime shipping combined.
It consumes 215 trillion liters of water annually and accounts for 9% of the microplastics in our oceans. For the majority of workers, conditions are dangerous and exploitative. Compensation is often below a livable wage, especially for women, who comprise 80% of the workforce.
The industry must change. If not, the United Nations has little hope of meeting its Sustainable Development Goals by the 2030 deadline.
It’s time to rethink every stage of the fashion industry’s ecosystem, from how we source textiles and manufacture garments to how we buy and dispose of them. Innovation is the answer.
What can you do to help solve this issue?
Hult Prize 2022-2023 challenges you to create a for-profit social venture* in the fashion/clothing industry. Your idea must make a measurable positive impact on people and the planet and support the United Nations in meeting its Sustainable Development Goals by the 2030 deadline.
How does the Hult Prize Define Fashion?
Though today’s concept of fashion extends well beyond clothing to accessories, cosmetics, and home goods, the focus of this challenge is on the apparel industry. The U.N. Alliance for Sustainable Fashion defines this as clothing and footwear made from natural or synthetic textiles, leather, and other wearable materials.
The problem
Today’s apparel industry is not sustainable. Every stage of its value chain harms both people and the planet. Fashion is the world’s second-most polluting industry, after oil. Much of its ecosystem is troubled by inhumane working conditions and inadequate social protection*.
The challenges
The following pages take you step-by-step through competing in this year’s challenge. First, you’ll need to brainstorm a game-changing social venture that aligns with the U.N. Sustainable Development Goals and positively impacts one or more critical stages of the fashion value chain. Then you’ll need to build a winning team to research the potential of your fantastic idea and shape it into a thriving, for-profit business with high impact.
Step 1: Align with one or more of the United Nations Sustainable Development Goals.
Step 2: Choose an area of impact in the fashion industry’s value chain that you feel passionate about.
Step 3: Build your team
Step 4: Explore your idea with Design Thinking.
Step 5: Develop your
Step 6: Create your pitch. Business plan.
Step 7: Compete!
