Hong Kong’s Leading Social Startup to Compete for a Share of $1 Million in Los Angeles
16 January 2016 BYT has been selected as one of 30 startups from across the world to be a finalist of Chivas Regal’s The Venture competition; a global search to find and support the next generation of startups that want to succeed while creating a better future for society.
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Michelle Bang, CEO of BYT has been chosen to represent Hong Kong in the upcoming Chivas The Venture global final in Los Angeles in July 2017. The 30 finalists from across six continents will have a chance to pitch for a share of a $1 million fund in front of an expert panel of judges who are looking for businesses that can offer scalable and sustainable solutions to real world issues.
Formerly the COO of successful Hong Kong non-profit, Redress, Michelle is now utilizing her fashion background and her Harvard Business School MBA to launch BYT. The idea behind BYT is to address the issue of textile waste in the fashion industry by up-cycling discarded designer fabrics, which are provided for free by multiple fashion brands, into sophisticated designer-quality apparel for women at an affordable price point.
BYT was selected by an esteemed panel of judges including Patricia Dwyer (Founder + Director The Purpose Business), Ming Wong (Founder + CEO Asia Community Ventures + Giinseng), Leong Cheung (Co-founder + Chairman RunOurCity), Jennifer Liu (Founder + CEO Sir Hudson International [The Coffee Academics]), and Frantz Hotton (Managing Director Pernod Ricard Hong Kong and Macau).
“While we had a plethora of inspiring applicants this year, we ultimately chose BYT to represent Hong Kong at The Venture global finals because the global fashion and textile industry is currently one of the major environmental polluter and BYP is poised to make serious and meaningful global impact. This company is addressing environmental, social, and economic concerns with a global vision,” said Frantz Hotton, MD of Pernod Ricard Hong Kong and Macau who served on the local judging panel for Chivas Venture.
Ahead of the global final, the competitors will take part in the Chivas The Venture Accelerator Week hosted at the University of Oxford by The Skoll Centre for Social Entrepreneurship. Embedded within the world-renowned Saïd Business School at the University of Oxford, The Skoll Centre has created an inspirational and transformative programme featuring opportunities for the finalists to develop leadership skills, take part in practical workshops and be inspired by global experts on critical topics that affect social enterprises.
With over $1 million in funding and resources, Chivas The Venture inspires entrepreneurs seeking to make positive change to pursue their ambitions and realise their potential. For more information about Chivas Regal’s ongoing support for entrepreneurs, visit https://www.chivas.com/theventure.[pt id=’21764′ size=’large’]