- eBay partners with the Australian Fashion Council (AFC) to launch the Circular Fashion Fund (CFF) for the second year in Australia
- Since starting in 2022 in the UK, the CFF is set to deliver a total investment of $1.2 million USD globally by the end of 2025
- New for the Fund, eBay Ventures will reward one ‘Circular Fashion Innovator of the Year’ with an extra investment of $300,000 USD**
- This year, CFF expands into Germany and the US after successfully coming to Australia last year
October 2024, Australia: eBay Australia, the original marketplace for recommerce, has today announced a global expansion of its Circular Fashion Fund (CFF) to help fashion start-ups scale circular solutions, from production to end-of-life, including rental and repair services. Applications for eBay’s CFF are open from now until 15 November 2024, and innovative tech start-ups, small businesses, social enterprises and charities can apply* via eBay’s site here.
Since it launched in the UK in 2022, the CFF has helped 15 businesses scale their circular solutions, including the three funding recipients of the inaugural CFF in Australia. The Australian recipients included the overall winner, Dempstah, a design practice that recycles Australian textile waste into spun yarn, and runners-up RCYCL and The Very Good Bra.
The CFF will provide a global investment of $1.2 million USD 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. To further amplify its impact, eBay Ventures, eBay’s venture capital arm, will select one winner from the global selection of market winners to become “Circular Fashion Innovator of the Year” and receive an investment of $300,000 USD.**
eBay Australia’s Fashion Lead, Anne-Marie Cheney, said: “At eBay, we’re committed to creating economic opportunity for all while driving positive change in the fashion industry. 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 Fund will enter its second year in Australia in partnership with the Australian Fashion Council (AFC). The winner will receive a $100,000 AUD cash prize, whilst the two runner-ups will receive $50,000 AUD each. All three finalists will receive bespoke mentoring sessions, educational workshops and networking opportunities. A judging panel of industry experts across fashion, academia, and sustainability will choose the winners. This panel includes:
- Jaana Quaintance-James, CEO Australian Fashion Council
- James Chin-Moody, Founder and CEO of Sendle
- Dr Lisa Lake, Director of the Centre of Excellence in Sustainable Fashion & Textiles, UTS
- Rosanna Iacono, CEO, The Growth Activists
- Danielle Kent, General Manager Industry Transformation, Seamless
- Liandra Gaykamangu, Founder, Liandra
- Bernadetter Olivier, Founder and CEO, The Volte
- Henri Jaanimagi, Global Head of eBay Ventures & Strategic Partnerships
- Rebecca Newton, Chief Marketing Officer & Director of Category at eBay Australia
- Anne-Marie Cheney, Fashion Lead eBay Australia
Founder of Dempstah and 2024 CFF winner in Australia, Guy Dempster, commented: “The last six months have been incredible since we won the Circular Fashion Fund. The Fund has enabled us to attend major industry events worldwide, kickstart new collaborations and invest in our own manufacturing machinery. 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."
CEO of the Australian Fashion Council, Jaana Quaintance-James, said: “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. 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.”
eBay’s Circular Fashion Fund is a global initiative that began in the UK in 2022. Now in its third year in the UK, the CFF is set to launch in the US and Germany for the first time, having successfully expanded to Australia last year. eBay Australia, along with the global markets, will run the Fund with the goal of forming an international alumni of circular fashion businesses, helping to pave the way for a more circular future.
Notes to editors:
To be considered for the eBay Circular Fashion Fund, applicants should meet the following criteria:
- *Applicants must have an established business that has been trading for a minimum of six months and a maximum of six years.
- The applicant’s company must be based in Australia, hold an ABN, and can be a charity, social enterprise, or registered company.
- The Fund is open to both eBay and non-eBay sellers.
- Full T&Cs are available here.
Judging process:
- Applications close on 15 November, 2024.
- Applicants will be informed if they have been shortlisted on 27 November, 2024
- Shortlisted applicants will be contacted by the eBay team. The next process will be to pitch their proposals to a panel committee of industry experts and eBay leadership on 6 December, 2024.
- The three finalists will be notified on the 19th of December.
- The Australian market winner will be announced on 12 March, 2025 in Sydney at the Finale Showcase.
- At the end of March, all market winners will pitch to a global panel, where one global finalist will be awarded 'Circular Fashion Innovator of the Year’ with an extra investment of $300,000 USD from eBay Ventures.
**The currency exchange rate for the $300,000 (USD) investment will vary depending on the time of payout.
For further information, please contact:
Emily Fookes, Pulse
PH: +61 438 854 883 I E: emily.fookes@ogilvy.com
Sophie Bishop, Pulse
PH: +61 406 136 192 I E: sophie.bishop@ogilvy.com
About eBay:
eBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects millions of buyers and sellers in more than 190 markets around the world. We exist to enable economic opportunity for individuals, entrepreneurs, businesses and organizations of all sizes. Founded in 1995 in San Jose, California, eBay is one of the world's largest and most vibrant marketplaces for discovering great value and unique selection. In 2023, eBay enabled more than $73 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com
About the Australian Fashion Council:
The Australian Fashion Council (AFC) is a not-for-profit and the peak body for the Australian fashion and textile industry, representing the sector for over 70 years. AFC members are Australian founded or majority owned businesses involved in producing fabric, clothing, footwear or accessories, including individuals that contribute creatively and economically to the Australian fashion and textile industry. The AFC champion and advocate for a prosperous and creative Australian fashion and textiles industry, with the purpose of building a vibrant, inclusive ecosystem for our member community through education, collaboration and innovation. Find out more here: https://ausfashioncouncil.com/
About Dempstah:
Dempstah is an Australian design practice exploring textile waste circularity. Founded in 2020 by Guy Dempster and Otis Ng, we specialise in mechanical fibre recovery – uniting international manufacturers with local mills, brands and designers to transform Australian-sourced textile waste into spun yarn for knitwear and knitted textiles.