Luxury goods firm Kering has launched a sustainable-innovation award in collaboration with global innovation platform Plug and Play.

The sustainable-innovation award is designed to promote sustainable innovation within the luxury and apparel sectors in China, rewarding local startups and technologies that show promise to bring about positive reform in the industry, disrupting the textile value chain to create positive environmental and social impact.

Businesses will be awarded for their use of alternative raw materials, green supply chain and the circular economy, and be granted access to key networking contacts and funding opportunities. The first place winner will receive a prize of €100,000 for development purposes.

Kering’s chief sustainability officer and head of international institutional affairs Marie-Claire Daveu said Kering is excited to extend its collaboration with Plug and Play to China where the company recognises that the entrepreneurial and innovative spirit of Chinese start-ups can offer endless solutions to fashion’s sustainability challenges.

“Innovation and smart problem solving are critical to reinvent luxury’s business model as sustainable and through our dedicated Kering Sustainable Innovation Award we hope to catalyse new ideas and solutions in the Greater China region to help us in our mission to do so.”

Three award winners will be selected in September.