Hang Seng Bank and The Hong Kong Polytechnic University (“PolyU”) have partnered to launch the Hang Seng x PolyU Sustainable Future Challenge: Textile and Fashion ("the Challenge"). Young creatives are especially encouraged by the Challenge to use their "sustainability-centric" imaginations to help envision the future of the industry.

PolyU is devoted to developing young people's technological and inventive skills and encouraging them to adopt an innovative and entrepreneurial mentality in order to bring about change for the betterment of society.

The Challenge accepts participation from tertiary students, academics, business leaders, and the general public. They are able to impart their expert expertise and know-how to advance the sector. Participants will concentrate on topics like changing and reusing used clothing and recycling textile waste before developing their concepts further to seek sustainable development.

Dr Miranda LOU, Executive Vice President of PolyU, said that as part of PolyU's innovation and entrepreneurship development framework, the University is organizing a series of thematic ideation competitions with the purpose of tackling the ever-changing difficulties faced by diverse industries. They consider it an honor that Hang Seng will work with them to hold the inaugural Sustainable Future Challenge in Textile and Fashion, which will allow participants to co-create and investigate ways to further improve the sustainability of the sector through innovation and technology. The Challenge will also provide the public a chance to learn more about the textile and apparel industries' sustainable production and consumption practices. PolyU is dedicated to developing young people's technological and inventive skills and encouraging them to adopt an innovative and entrepreneurial mentality in order to bring about change for the betterment of society.

Hang Seng has a long history of actively supporting projects and programs for youth development that seek to improve societal awareness of and response to climate change challenges.

Ms Betty LAW, Head of Communications and Corporate Sustainability at Hang Seng, said that successfully tackling climate change will need imaginative, 'out-of-the-box' thinking and the active engagement of individuals and organizations across our community. The Challenge intends to promote this by offering rewards and assistance to help transform innovative concepts into practical, implementable realities. As part of the larger social objective of a greener future for everyone, the winning teams will receive funds to begin the development of their ideas for developing a more sustainable textile and apparel sector.

Tertiary Student Category and Open Category are the two categories available for the challenge. All participants will go through a series of "ideation galas" where they will explore their ideas further and establish teams with other people. Following this first round, 16 teams will be selected, and they will undergo a few weeks of training and mentoring from leaders in the business. The concepts of the teams who were chosen for the shortlist will be completely developed into workable business proposals through proof-of-concept programs and market validation training. At the Grand Finale event, these suggestions will be made.

The top three winning teams will each get a cash prize for their start-up costs, ranging from HK$100,000 to HK$300,000. Teams in the Tertiary Student Category are also eligible for the Tertiary Student Innovation Awards, which provide the top three teams extra cash prizes of between HK$5,000 and HK$10,000. The winning teams may also get further financing and other entrepreneurial help from PolyU, subject to specific qualifying restrictions.