The Mills Fabrica celebrated its fifth birthday with an impact report detailing how the solutions platform has fostered, accelerated and supported innovators in pursuit of planet-positive change.
Those details include incubating, propelling and supporting fashion technology startups like Renewcell, Reflaunt and Unspun. In particular, the report reveals how brands can utilize the nine planetary boundaries framework (as outlined by the Stockholm Resilience Center and the IRIS+ framework) to measure the impact that The Mills Fabrica’s portfolio companies generate.
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The Nan Fung Group-owned VC and incubator—which serves as the innovation arm of a techstyle hub situated inside old fabric mills known as The Mills— works with budding businesses looking to bring more environmentally friendly options and outcomes to the industry.
By “employing a unique approach” in its efforts to support startups, its scope of work is quite broad. The “one-stop shop” consists of a venture capital fund, a startup incubator, Impact Retail Store Fabrica X, an innovation gallery as well as labs and co-working spaces in its headquarters cities, Hong Kong and London.
“We are proud to mark five years of driving positive change for the planet and people with our vast network of stakeholders,” said Cintia Nunes, general manager and head of Asia at The Mills Fabrica. “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.”
Since its 2018 inception, The Mills Fabrica has strategically invested in over 20 startups and eight funds operating in the techstyle and agrifood industries, made possible by its “innovation framework” that underpins the organization’s “innovation platform.” That framework consists of three phases: the idea-development phase, the core innovation process, and the process of making and measuring planet-positive change. The Mills Fabrica makes its investment decisions based on this framework with the ultimate goal of avoiding carbon tunnel vision.
“This approach empowers us to invest in innovations that address not only climate change but also other crucial socio-environmental challenges of equal significance,” the report reads. “By broadening our focus, we can drive holistic solutions that create a positive impact across multiple dimensions.”
That said, The Mills Fabrica’s expanded portfolio now encompasses innovations in upstream, midstream and downstream supply chains. In 2023, the platform focused on cultivating its commitment to “generating positive impact” by targeting upstream innovations—which rethink products at the design stage—and integrating a “tailored impact management process throughout its investment lifecycle.”
As for that expanded portfolio, The Mills Fabrica’s direct and fund investments went to relevant next-gen players including Circ, Colorifix, Mango Materials and the Good Fashion Fund. Those investments are already paying off, per the platform. For example, Mango Materials—a company transforming methane into biodegradable pellets—displaced 1.4 metric tons of plastic with its PHA-based bits and avoided releasing over 1,800 pounds of greenhouse gas equivalent.
“The Mills Fabrica has unique expertise and connections to crucial stakeholders from all over the world to collectively safeguard our planet,” Nunes said. “We look forward to bringing more innovations to life as a result of these mutually beneficial collaborations with our ecosystem partners.”
Over the years, the Modern Synthesis incubator has partnered with over 170 educational institutions around the world. Its two competitions—the Central Saint Martins x The Mills Fabrica Innovation Award and the flagship Techstyle For Social Good—have received 600-plus applications with total prizes amounting to 1.9 million Hong Kong dollars (about $245,000).
The Mills Fabrica’s commitment to fostering innovation goes beyond the classroom as well. The platform’s Fabrica Happenings has hosted over 360 events with more than 45,000 guests discussing all things planet-positive like alternative materials and textile innovation.
“Whether you’re 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,” Nunes said.
