Supply chain innovation is sorely needed. Who's going to fund it?
The fashion supply chain is in need of investment to scale up solutions in traceability, renewable energy, materials, and recycling, as companies face increasing pressure to become more efficient and comply with legislation. Despite the demand, manufacturers and logistics firms claim that available funding falls short. Regulatory requirements for transparency and traceability are driving the need for data-driven platforms. However, the complexity and cost of emerging supply chain innovations pose challenges, and securing financing for the right solutions remains a hurdle.
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Frequently Asked Questions
Supply chain innovation is sorely needed. Who's going to fund it?
There are several funding sources available to support supply chain innovation. Some of the notable sources include:
1. Asia-Pacific Economic Cooperation (APEC)
APEC provides funding for projects related to supply chain connectivity, free trade areas, and economic reform. For more information, visit the APEC Project Funding Sources.
2. CHIPS and Science Act
The CHIPS and Science Act in the United States includes $1.5 billion for promoting and deploying wireless supply chain innovation. Learn more about it in the FACT SHEET: CHIPS and Science Act.
3. Biden-Harris Administration
The Biden-Harris Administration has awarded grants from the Public Wireless Supply Chain Innovation Fund. Get more details from the Biden-Harris Administration Awards First Grants from Wireless Innovation announcement.
4. U.S. Department of Energy (DOE)
The DOE has announced its intent to fund projects that advance critical mineral innovation and efficiency in the domestic supply chain. Read the announcement on the DOE Announces Intent to Fund Projects That Advance Critical Mineral Innovation and Efficiency.
Please note that these are just a few examples of funding sources available for supply chain innovation.