Recommerce platform eBay Australia has partnered with local peak body the Australian Fashion Council (AFC) as part of the marketplace’s second instalment of its Circular Fashion Fund.
As part of the partnership, a selection of AFC members and leaders will join the judging panel for 2024.
Applications for eBay Australia’s CFF are open from now until November 15, 2024, with a total of $200,000 up for grabs this year.
Designed to help fashion start-ups scale circular solutions, the fund was initially launched in the United Kingdom in 2022 and was rolled out into Australia last year.
Globally, the fund has funded 15 businesses to scale circular solutions, including three funding recipients of the inaugural CFF in Australia - Dempstah, RCYCL and The Very Good Bra.
The CFF will provide a global investment of US$1.2 million (~A$1.8 million) to start-ups in the global markets by the end of 2025 and over 200 hours of mentoring and networking support for applicants from industry experts.
In addition, the platform’s venture capital arm eBay Ventures will select one winner from the global selection of market winners to become ‘Circular Fashion Innovator of the Year’ and receive an investment of US$300,000.
“At eBay, we’re committed to creating economic opportunity for all while driving positive change in the fashion industry,” eBay Australia fashion lead Anne-Marie Cheney said.
“The Circular Fashion Fund exemplifies the power of collaboration and innovation between companies like eBay and fashion start-ups. By uniting our resources and expertise, we’re scaling circular fashion businesses to help build a more sustainable future and reduce clothing going to landfill.”
The winner of this year’s CFF in Australia will receive a $100,000 cash prize, with the two runner-ups receiving $50,000 each.
Similar to last year, all three finalists will receive mentoring sessions, educational workshops and networking opportunities.
The judging panel consists of 10 industry leaders, including AFC CEO Jaana Quaintance-James, The Growth Activists CEO Rosanna Iacono, Seamless GM of industry transformation Danielle Kent and the UTS director of the Centre of Excellence in Sustainable Fashion & Textiles Dr Lisa Lake.
Other judges include Liandra founder Liandra Gaykamangu, Sendle founder and CEO James Chin-Moody, The Volte co-founder and CEO Bernadette Olivier, global head of eBay Ventures and strategic partnerships Henri Jaanimagi, eBay Australia CMO and director of category Rebecca Newton and Cheney herself.
“Building on the success of the inaugural Circular Fashion Fund in Australia, we’re excited to see the innovative solutions this year’s applicants propose,” Quaintance-James said. “Initiatives like this fund help accelerate innovation and support the Australian industry to create more sustainable and circular business models. By fostering creativity and resilience within our industry, we can pave the way toward a more sustainable future for fashion.”
Last year’s winner Guy Dempster, founder of Dempstah, said the last six months have been a whirlwind since winning the top prize.
“The fund has enabled us to attend major industry events worldwide, kickstart new collaborations and invest in our own manufacturing machinery,” Dempster said. “We've also connected with key stakeholders in both government and the Australian textile industry, keen to support our work and guide us towards further funding and development opportunities."
Following successful iterations in the UK and Australia, the CFF is set to launch in the United States and Germany for the first time.