At Stockholm City Hall, the site of the annual Nobel Prize banquet, 10 fashion startups received their due on Wednesday: 200,000 euros ($224,564) apiece, a bevy of plaudits and a place in the yearlong Global Change Award Changemaker Program, an accelerator run by the H&M Foundation in collaboration with Accenture and KTH Royal Institute of Technology.

The Global Change Award , now in its 11th year, has been referred to as the Nobel Prize of fashion. This year’s early-stage innovations range from AI-powered smartglasses that detect factory-floor defects in real time to spider-silk-inspired fibers produced by microorganisms and biodegradable leather alternatives made from seaweed.…