The Hong Kong fashion tech incubator that is looking to make the industry green
- Nan Fung’s The Mills Fabrica incubator provides a 12-month incubation programme for start-ups and invests in early stage companies
- Greenhouse-gas emissions by the fashion industry accounted for about 4 per cent of the global total, according to a McKinsey report
“The mission is to accelerate innovation for sustainability,” said Alexander Chan, co-director of The Mills Fabrica. “The goal is really to help these companies grow, then make an impact on the industry.”
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The fashion industry can reduce around 61 per cent of the carbon emissions by making changes to the production cycle and supply chains, McKinsey said.
One of the areas that The Mills Fabrica has zeroed in on for innovation is the supply chain. Besides providing a 12-month incubation programme for start-ups, it also makes direct investments in early stage companies, from seed to series B funding, through the Fabrica Fund set up by Nan Fung. Investments typically range from US$100,000 to US$2 million, according to its website.