The Mills Fabrica Releases New Impact Report to Mark 5 Years of Catalyzing Environmental and Social Change
Having partnered with 100+ global brands, its second Impact Report highlights how the power of collaboration fosters impactful techstyle and agrifood innovations
HONG KONG SAR - Media OutReach Newswire - 22 October 2024 - The Mills Fabrica launches its latest Impact Report to celebrate five years of fostering, accelerating and supporting techstyle and agrifood innovators to catalyze planet-positive change.In line with its inaugural report, this year's report showcases how companies can leverage the nine planetary boundaries framework as outlined by the Stockholm Resilience Center and the IRIS+ framework, to measure the impact generated by The Mills Fabrica's portfolio companies.
Over the past five years, The Mills Fabrica has proudly incubated, propelled, and supported innovators actively making a tangible difference for the planet. Employing a unique approach that covers the various phases of the innovation development process, The Mills Fabrica's scope of work encompasses a venture capital fund, startup incubator, Impact Retail Store Fabrica X, and an innovation gallery, labs, events and co-working spaces in Hong Kong and London. This enables it to tailor its various business streams to cater to each phase, maximizing the chances of realizing impactful innovations.
"We are proud to mark five years of driving positive change for the planet and people with our vast network of stakeholders. As we look to the next five years, we are calling on like-minded partners to join us in our mission to build a future where innovation, sustainability, and conscious consumption intersect. Whether you are an innovator or a corporation new to sustainability, The Mills Fabrica's global platform with extensive on-the-ground knowledge is ready to support your sustainability efforts in Asia and beyond," says Cintia Nunes, General Manager and Head of Asia at The Mills Fabrica.
Fabrica Investment Fund: Accelerated 20+ high-potential innovators
Since inception in 2018, The Mills Fabrica has strategically invested in over 20 pioneering startups and eight funds operating in the techstyle and agrifood industries. Covering upstream, midstream, and down-stream supply chains for both industries, this comprehensive approach enables The Mills Fabrica to support a diverse range of innovations, allowing them to scale their solutions and generate environmental and social impact. Most recently, it strengthened its commitment to generating positive impact by targeting upstream innovations and integrating a tailored impact management process throughout its investment lifecycle.
These investments have already shown considerable promise in generating impactful change for the planet. For example, Mango Materials, a portfolio company that transforms methane into biodegradable materials, has displaced 1.4 tonnes of plastics with its PHA-based pellets, avoiding the release of 836 kg of greenhouse gas equivalent.
Incubation Program: Nurtured 15+ startups into their next phase of growth
To accelerate sustainable innovation in Hong Kong and the U.K., The Mills Fabrica has provided tailored support to over 15 innovators, encompassing access to co-working spaces, network opportunities, curated expert workshops, and showcasing opportunities through its Impact Retail concept Fabrica X. Taking its incubatee IXON as an example, their advanced sous-vide aseptic packaging (ASAP) technology and product generated considerable interest with the help of The Mills Fabrica's network. By hosting tasting events for chefs, investors, and media, IXON successfully commercialized its ASAP technology. The Mills Fabrica also facilitated introductions to investors and corporate partners, expanding IXON's network and contributing to its growing recognition.
Empowering young innovators and inspiring consumer curiosity
With a strong belief that innovation often starts within educational institutions, The Mills Fabrica has established two student competitions: the Central Saint Martins x The Mills Fabrica Innovation Award and its flagship Techstyle For Social Good to unlock the entrepreneurial spirit of students and recent graduates.
Over the years, The Mills Fabrica has partnered with more than 170 educational institutions worldwide to identify promising young innovators who have developed or are close to developing an early prototype of a technological innovation. The two competitions have received over 600 applications globally, with total prizes amounting to HKD 1.9 million. Apart from the prize fund, winners receive an extensive array of support, ranging from brand collaborations to showcasing opportunities at Fabrica X, aimed at transforming their innovative ideas into game-changing solutions.
In particular, to connect up-and-coming sustainable brands to consumers, Fabrica X, an Impact Retail concept in Hong Kong and London, serves as a touchpoint to educate consumers on key sustainability issues and showcase and sell sustainable products. Its Plastic Circularity campaign in Hong Kong brought together 47 like-minded innovators and brands, attracting over 45,000 visitors, with 88% of participants reporting that they are more willing to buy items made from recycled materials after attending the workshops.
Unlocking opportunities by curating a collaborative ecosystem across all sectors
Marking five years since inception, The Mills Fabrica remains firm in its belief that industry collaboration is key to support innovation for sustainable development. Through partnership initiatives and curated Fabrica Happenings, The Mills Fabrica has created opportunities for innovators to connect with manufacturers, retailers, and investors from all sectors. Having hosted over 360 events that engaged more than 45,000 individuals, these events continue to be invaluable in furthering its mission of driving planet-positive change.
"The Mills Fabrica has unique expertise and connections to crucial stakeholders from all over the world to collectively safeguard our planet. We look forward to bringing more innovations to life as a result of these mutually-beneficial collaborations with our ecosystem partners," Nunes adds.
The Mills Fabrica's 2023 Impact Report can be downloaded here: https://bit.ly/ir23-press
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The issuer is solely responsible for the content of this announcement.
About The Mills Fabrica
The Mills Fabrica is a go-to solutions platform accelerating techstyle and agrifood tech innovations for sustainability. Officially launched in Hong Kong in December 2018, The Mills is a landmark revitalization project by the Nan Fung Group, transforming their old textile factories into a new heritage, experiential retail, and innovation centre. With its business incubator, investment fund, spaces in Hong Kong and London, and community-building initiatives, The Mills Fabrica aims to create success stories of collaborations between innovators, entrepreneurs, and corporates, that together, will drive positive change for future generations. http://www.themillsfabrica.com/
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