Hyphen SCS Co-founder Arun Pandit was glad to be a part of the judging panel at the campus round of the Hult Prize 2023.
This year, the theme is "Redesigning Fashion."
Today’s fashion industry is huge. It’s the world’s third-largest manufacturing sector, contributing $2.4 trillion to the global economy.
Over 150 billion articles of clothing are produced each year. Fashion employs 300 million people across its value chain
— a sixth of the world’s workforce
Unfortunately, all this comes at a terrible environmental and social cost.
The fashion industry is responsible for up to 8% of the world’s greenhouse gas emissions—more than all international flights and maritime shipping combined.
It consumes 215 trillion liters of water a year and accounts for 9% of the microplastics found in our oceans.
For the majority of workers, conditions are dangerous and exploitative.
Compensation is often below a livable wage, especially for women, who comprise 80% of the workforce.
The students were challenged to create a for-profit social venture in the fashion/clothing industry.
Their idea was expected to create a measurable positive impact on people and the planet and support the United Nations in meeting its Sustainable Development goals by the 2030 deadline.
The students came up with some wonderful and sustainable ideas.
The panel of judges
1) Arvind Chipa, Lead Designer & Manager, RK Derawala.
2) Vishakha Bansal, Assistant Professor at the Indian Institute of Management, Shillong.
3) Daniel Syiem, Co-Founder, of Daniel Syiem’s Ethnic Fashion House.
4) Sneha Bagrecha, FOUNDER - IndieGood.
shared very pragmatic feedback, food for thought, and invaluable suggestions to further improve their chances and take them to the next level.
Best of luck to the winners and all the participants for putting on such a wonderful show.