Bonus of $200,000! The platform will reward such sellers

The Australian Fashion Council and eBay Australia have just announced a $200,000 fashion fund for startups specialising in eco-friendly fashion solutions and sustainability in the fashion industry .

According to recent statistics, Australians buy 27 kilograms of new clothes every year and throw away about 23 kilograms.

Statistics from Earth.org also show that Australia generates 92 million tonnes of textile waste every year - a shocking figure.

With this in mind, the Eco- Fashion Fund aims to reduce this number by leveraging emerging technologies from startups to change consumer behavior.

“ We understand that eBay can play a role in sustainable fashion by leveraging our scale and expertise . We are committed to supporting small businesses in driving positive change in the fashion industry through innovation, ” said Brooke Eichhorn, head of fashion at eBay Australia .

“These initiatives will help revolutionize the way fashion is created, consumed and recycled, making sustainable fashion more accessible to everyone . ”

According to eBay research , secondhand fashion purchases have risen 45% in the past two years, and one-third of respondents said half of their wardrobes are secondhand .

This result is not particularly surprising given the current cost of living crisis and growing interest in sustainability .

“To achieve a green economy by 2030 , the Australian fashion industry needs to fundamentally change the way clothing is designed, produced, consumed and disposed of, ” said Australian Fashion Council chief executive Leila Sibley.

" For decades, eBay has been a leader in selling used products and driving a greener economy through its resale marketplace , particularly in the fashion sector . "

Applications for the fund are now open and will close on November 10, 2023. The six finalists will pitch their ideas to a panel of judges, with the winner receiving $100,000. The two runners-up will each receive $50,000.

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