FabricAID Wins World's Biggest Social Entrepreneurship Competition
The journey of FabricAID, a young, change-seeking startup, began in Beirut after they won first-place in a local competition organized by Berytech - GSVC's regional partner. Omar Itani - FabricAID co-founder, then travelled to the GSVC world finals held in Milan, Italy on April 12 -13 to pitch alongside 19 finalists chosen from across nine regional competitions and brought home the first prize of $40K.
FabricAID's mission is to offer underprivileged people good quality clothing at affordable prices while helping Lebanon reach zero fabric waste through maximizing the efficiency of second hand clothes collection, sorting and distribution.
FabricAID implements a creative model that optimizes the fabric waste value chain through smart collection, management, need base distribution, innovative clothing bin system, and social franchising. During its first year of operation, the startup benefited more than 1700 persons, selling more that 10K items. Beyond the financial prize, FabricAID also received mentoring, international acknowledgement and visibility, and access to an international support network through Berytech and the larger entrepreneurship ecosystem in Lebanon.
The Global Social Venture Competition (GSVC) was founded by MBA students at UC Berkeley’s Haas School of Business to empower the next generation of social entrepreneurs by providing them with mentoring, exposure, and cash in prizes to transform their ideas into ventures that address the world’s most pressing challenges.
Berytech, the Lebanese ecosystem for entrepreneurs, is one of the current 16 regional partners of the competition. For the last 7 years, Berytech has been organizing the GSVC in Lebanon giving local social entrepreneurs the mentorship, support and visibility needed to grow their startup into an international business.
Some of the success stories emerging from the local GSVC competition include: NARobots who developed a software solution for aerial platforms to prevent oil spills, Carpolo who created a car sharing platform to reduce traffic and pollution, Riego who innovated a smart irrigation system to reduce water waste, and Triple E who designed a smart water and waste water management solution.